What’s Ahead for Bank of New York Mellon Corp After Today’s Bearish Options Activity?

 What's Ahead for Bank of New York Mellon Corp After Today's Bearish Options Activity?

In today’s session Bank of New York Mellon Corp (BK) recorded an unusually high (1,550) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious BK decrease. With 1,550 contracts traded and 7044 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: BK161021P00039500 closed last at: $0.57 or 72.7% up. About 1.35M shares traded hands. Bank of New York Mellon Corp (NYSE:BK) has risen 8.81% since March 10, 2016 and is uptrending. It has outperformed by 1.30% the S&P500.

Analysts await Bank of New York Mellon Corp (NYSE:BK) to report earnings on October, 18. They expect $0.80 EPS, up 8.11% or $0.06 from last year’s $0.74 per share. BK’s profit will be $857.75M for 12.12 P/E if the $0.80 EPS becomes a reality. After $0.76 actual EPS reported by Bank of New York Mellon Corp for the previous quarter, Wall Street now forecasts 5.26% EPS growth.

Bank of New York Mellon Corp (NYSE:BK) Ratings Coverage

Out of 12 analysts covering The Bank Of New York Mellon Corporation (NYSE:BK), 8 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 67% are positive. The Bank Of New York Mellon Corporation has been the topic of 32 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained Bank of New York Mellon Corp (NYSE:BK) on Friday, May 27 with “Buy” rating. maintained the shares of BK in a report on Monday, October 10 with “Hold” rating. The firm earned “Overweight” rating on Friday, January 22 by Barclays Capital. The stock of Bank of New York Mellon Corp (NYSE:BK) earned “Buy” rating by Deutsche Bank on Thursday, June 16. The stock has “Buy” rating given by Deutsche Bank on Friday, August 5. The rating was maintained by Jefferies on Wednesday, October 7 with “Hold”. The company was maintained on Friday, September 9 by Deutsche Bank. Standpoint Research maintained the shares of BK in a report on Sunday, August 9 with “Hold” rating. On Wednesday, September 9 the stock rating was upgraded by Deutsche Bank to “Buy”. The stock has “Buy” rating given by Bank of America on Thursday, September 17.

According to Zacks Investment Research, “Bank of New York is a bank holding company and one of the world’s larger financial institutions. They provide comprehensive financial services to individuals, small and mid-sized businesses, multinational corporations, financial institutions, governments and public agencies worldwide. Their products and services are organized into five business lines: Securities Servicing and Global Payment Services, Private Client Services and Asset Management, Corporate Banking, Global Markets and Retail Banking.”

Insitutional Activity: The institutional sentiment decreased to 0.82 in 2016 Q2. Its down 0.07, from 0.89 in 2016Q1. The ratio dropped, as 64 funds sold all Bank of New York Mellon Corp shares owned while 287 reduced positions. 46 funds bought stakes while 243 increased positions. They now own 852.69 million shares or 3.83% less from 886.64 million shares in 2016Q1.
Westchester Mgmt accumulated 205,393 shares or 3.54% of the stock. Eagle Capital Management Ltd Co last reported 0% of its portfolio in the stock. Dixon Hubard Feinour & Brown Va has 27,238 shares for 0.34% of their US portfolio. Meiji Yasuda Asset Management Ltd last reported 0.17% of its portfolio in the stock. Jfs Wealth Advisors Limited Liability Corp holds 0.15% or 13,963 shares in its portfolio. Flippin Bruce Porter last reported 1.07% of its portfolio in the stock. Livforsakringsbolaget Skandia Omsesidigt, a Sweden-based fund reported 116,689 shares. Pub Employees Retirement Association Of Colorado holds 0.57% or 1.77M shares in its portfolio. Paloma Mngmt holds 0.05% of its portfolio in Bank of New York Mellon Corp (NYSE:BK) for 119,293 shares. Employees Retirement Systems Of Texas accumulated 64,000 shares or 0.03% of the stock. Hightower Lc, a Illinois-based fund reported 94,301 shares. Clinton Gp last reported 0.01% of its portfolio in the stock. King Luther last reported 0.02% of its portfolio in the stock. Boyar Asset Management Inc accumulated 84,177 shares or 2.59% of the stock. Minneapolis Port Management Gru Ltd Limited Liability Company accumulated 641,615 shares or 4.48% of the stock.

The Bank of New York Mellon Corporation is an investments company. The company has a market cap of $41.60 billion. The Firm operates businesses through two divisions: Investment Management and Investment Services. It has a 13.89 P/E ratio. The Firm also has an Other segment, which includes credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

BK Company Profile

The Bank of New York Mellon Corporation (BNY Mellon), incorporated on February 9, 2007, is an investments company. The Firm operates businesses through two divisions: Investment Management and Investment Services. The Firm also has an Other segment, which includes credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead. The Firm has over $1.6 trillion in assets under management.

More notable recent Bank of New York Mellon Corp (NYSE:BK) news were published by: Finance.Yahoo.com which released: “BNY Mellon Appointed as Depositary Bank by Banco Santander S.A.” on October 11, 2016, also Bloomberg.com with their article: “BNY Mellon CEO: Bank Embraced Criticism From Activist Investors” published on September 19, 2016, Bloomberg.com published: “BNY Mellon President Karen Peetz to Retire at End of the Year” on September 26, 2016. More interesting news about Bank of New York Mellon Corp (NYSE:BK) were released by: Bloomberg.com and their article: “BNY Mellon Accused of Unfair Competition by Lyell Wealth” published on September 22, 2016 as well as Post-Gazette.com‘s news article titled: “New York company buys William Penn Place, as BNY Mellon moves out” with publication date: September 29, 2016.

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