Is Bank of New York Mellon Corp’s Latest Move For Real? The Stock Was Sold By Option Traders Today

 Is Bank of New York Mellon Corp's Latest Move For Real? The Stock Was Sold By Option Traders Today

In today’s session Bank of New York Mellon Corp (BK) recorded an unusually high (1,540) 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 1,540 contracts traded and 22824 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: BK161021P00039500 closed last at: $0.93 or 106.7% up. About 1.71 million shares traded hands. Bank of New York Mellon Corp (NYSE:BK) has risen 4.89% since March 14, 2016 and is uptrending. It has underperformed by 0.72% the S&P500.

Analysts await Bank of New York Mellon Corp (NYSE:BK) to report earnings on October, 18. They expect $0.80 earnings per share, up 8.11% or $0.06 from last year’s $0.74 per share. BK’s profit will be $862.35 million for 12.27 P/E if the $0.80 EPS becomes a reality. After $0.76 actual earnings per share 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. The company was maintained on Friday, January 8 by Deutsche Bank. The firm has “Buy” rating given on Thursday, September 17 by Bank of America. The rating was maintained by Argus Research with “Buy” on Tuesday, July 21. On Monday, July 11 the stock rating was maintained by Jefferies with “Hold”. On Friday, May 27 the stock rating was maintained by Deutsche Bank with “Buy”. The firm has “Overweight” rating by JP Morgan given on Thursday, January 7. The firm has “Buy” rating given on Friday, September 9 by Deutsche Bank. The firm earned “Outperform” rating on Wednesday, August 5 by Bernstein. The firm earned “Hold” rating on Wednesday, October 7 by Jefferies. Deutsche Bank maintained Bank of New York Mellon Corp (NYSE:BK) rating on Thursday, June 16. Deutsche Bank has “Buy” rating and $48 price target.

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 fall, 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.
Country National Bank & Trust accumulated 581,803 shares or 1.22% of the stock. Markston International Ltd Liability Company accumulated 0.47% or 129,327 shares. Bb&T Corporation reported 19,036 shares or 0.02% of all its holdings. Strategic Advsr Limited Liability Co has 0.16% invested in the company for 10,818 shares. Chicago Equity Prns Lc, a Illinois-based fund reported 308,710 shares. Moreover, Bnp Paribas Invest Prtnrs has 0.12% invested in Bank of New York Mellon Corp (NYSE:BK) for 361,821 shares. Mathes Inc holds 0.15% or 6,573 shares in its portfolio. Envestnet Asset has 0.03% invested in the company for 177,042 shares. Bb&T Secs Ltd Co accumulated 0.02% or 35,684 shares. Moreover, Gabelli Secs has 0.11% invested in Bank of New York Mellon Corp (NYSE:BK) for 21,000 shares. Lba Wealth Mngmt Ltd has 80 shares for 0% of their US portfolio. Cadinha Limited Liability Corp has 0.15% invested in the company for 18,235 shares. Endeavour Capital last reported 0.86% of its portfolio in the stock. Nuveen Asset Mgmt Limited Co has invested 0.08% of its portfolio in Bank of New York Mellon Corp (NYSE:BK). Moreover, Baltimore has 2.21% invested in Bank of New York Mellon Corp (NYSE:BK) for 191,260 shares.

The Bank of New York Mellon Corporation is an investments company. The company has a market cap of $42.32 billion. The Firm operates businesses through two divisions: Investment Management and Investment Services. It has a 14.06 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: Reuters.com which released: “MOVES- BNY Mellon Investment, Pimco, State Street Corp” on October 17, 2016, also Reuters.com with their article: “MOVES-BNY Mellon Investment Management hires Olivier Cassin” published on October 17, 2016, Marketwatch.com published: “BNY Mellon CEO calls on central banks to be ‘more bold’ with rates” on October 13, 2016. More interesting news about Bank of New York Mellon Corp (NYSE:BK) were released by: Bloomberg.com and their article: “BNY Mellon CEO: Bank Embraced Criticism From Activist Investors” published on September 19, 2016 as well as Bloomberg.com‘s news article titled: “BNY Mellon President Karen Peetz to Retire at End of the Year” with publication date: September 26, 2016.

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