Ancora Advisors Lowered Its Bank New York Mellon (BK) Holding by $331,250 as Share Value Declined; Home Depot (HD) Holder Suncoast Equity Management Has Upped Its Stake by $5.48 Million

February 23, 2018 - By Clifton Ray

Ancora Advisors Llc decreased its stake in Bank New York Mellon Corp (BK) by 13.44% based on its latest 2017Q3 regulatory filing with the SEC. Ancora Advisors Llc sold 6,250 shares as the company’s stock declined 1.27% while stock markets rallied. The hedge fund held 40,267 shares of the major banks company at the end of 2017Q3, valued at $2.14M, down from 46,517 at the end of the previous reported quarter. Ancora Advisors Llc who had been investing in Bank New York Mellon Corp for a number of months, seems to be less bullish one the $56.65 billion market cap company. The stock decreased 0.97% or $0.55 during the last trading session, reaching $55.9. About 4.28M shares traded. The Bank of New York Mellon Corporation (NYSE:BK) has risen 13.98% since February 23, 2017 and is uptrending. It has underperformed by 2.72% the S&P500.

Suncoast Equity Management increased its stake in Home Depot (HD) by 79.31% based on its latest 2017Q3 regulatory filing with the SEC. Suncoast Equity Management bought 33,604 shares as the company’s stock rose 9.30% with the market. The institutional investor held 75,974 shares of the consumer services company at the end of 2017Q3, valued at $12.43 million, up from 42,370 at the end of the previous reported quarter. Suncoast Equity Management who had been investing in Home Depot for a number of months, seems to be bullish on the $216.58B market cap company. The stock increased 1.32% or $2.41 during the last trading session, reaching $185.47. About 5.65M shares traded or 4.76% up from the average. The Home Depot, Inc. (NYSE:HD) has risen 18.65% since February 23, 2017 and is uptrending. It has outperformed by 1.95% the S&P500.

Ancora Advisors Llc, which manages about $3.12B and $1.73B US Long portfolio, upped its stake in Kimball Electronics Inc (NASDAQ:KE) by 14,415 shares to 147,691 shares, valued at $3.20 million in 2017Q3, according to the filing. It also increased its holding in Valvoline Inc Com by 13,095 shares in the quarter, for a total of 124,530 shares, and has risen its stake in Versum Matls Inc.

Among 25 analysts covering The Bank Of New York Mellon Corporation (NYSE:BK), 12 have Buy rating, 3 Sell and 10 Hold. Therefore 48% are positive. The Bank Of New York Mellon Corporation had 74 analyst reports since July 22, 2015 according to SRatingsIntel. The company was downgraded on Monday, April 24 by Credit Suisse. Sandler O’Neill maintained the stock with “Hold” rating in Thursday, January 18 report. RBC Capital Markets maintained it with “Hold” rating and $58.0 target in Wednesday, August 30 report. The rating was maintained by RBC Capital Markets on Monday, November 13 with “Hold”. The stock of The Bank of New York Mellon Corporation (NYSE:BK) has “Overweight” rating given on Thursday, January 7 by JP Morgan. The stock of The Bank of New York Mellon Corporation (NYSE:BK) has “Overweight” rating given on Friday, February 2 by Morgan Stanley. The company was maintained on Thursday, July 20 by Keefe Bruyette & Woods. The rating was maintained by Deutsche Bank on Friday, May 27 with “Buy”. The stock has “Hold” rating by Jefferies on Monday, July 11. The rating was upgraded by Bernstein on Wednesday, August 5 to “Outperform”.

Analysts await The Bank of New York Mellon Corporation (NYSE:BK) to report earnings on April, 19. They expect $0.96 earnings per share, up 20.00% or $0.16 from last year’s $0.8 per share. BK’s profit will be $972.90 million for 14.56 P/E if the $0.96 EPS becomes a reality. After $0.91 actual earnings per share reported by The Bank of New York Mellon Corporation for the previous quarter, Wall Street now forecasts 5.49% EPS growth.

Investors sentiment increased to 1.01 in Q3 2017. Its up 0.12, from 0.89 in 2017Q2. It increased, as 34 investors sold BK shares while 306 reduced holdings. 90 funds opened positions while 254 raised stakes. 832.75 million shares or 0.16% more from 831.44 million shares in 2017Q2 were reported. Marco Investment Mgmt invested in 72,000 shares. Peapack Gladstone Financial holds 0.03% or 9,818 shares. Artisan Prtn Limited Partnership holds 1.3% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK) for 13.32M shares. Bollard Group Limited Co invested in 658 shares. Stevens Ltd Partnership accumulated 416,191 shares. Motco has invested 0.59% in The Bank of New York Mellon Corporation (NYSE:BK). Carret Asset Mgmt Llc invested in 0.35% or 40,441 shares. Oakworth Inc has invested 0.01% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK). State Of Tennessee Treasury Department, a Tennessee-based fund reported 929,309 shares. Madison Investment Hldg invested 0.36% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK). Tiedemann Wealth Management Ltd Liability Corp, New York-based fund reported 13,572 shares. Blackrock Incorporated reported 0.15% of its portfolio in The Bank of New York Mellon Corporation (NYSE:BK). Kanawha Llc has 38,858 shares for 0.31% of their portfolio. St Johns Mgmt Comm Limited Company owns 0.69% invested in The Bank of New York Mellon Corporation (NYSE:BK) for 17,782 shares. Pineno Levin And Ford Asset Management Inc holds 2.34% or 96,272 shares in its portfolio.

Among 33 analysts covering The Home Depot Inc. (NYSE:HD), 24 have Buy rating, 0 Sell and 9 Hold. Therefore 73% are positive. The Home Depot Inc. had 113 analyst reports since August 19, 2015 according to SRatingsIntel. The stock of The Home Depot, Inc. (NYSE:HD) has “Buy” rating given on Tuesday, January 30 by Guggenheim. The firm earned “Buy” rating on Monday, September 18 by RBC Capital Markets. SEB Equity Research maintained The Home Depot, Inc. (NYSE:HD) on Tuesday, August 25 with “Sell” rating. As per Friday, July 21, the company rating was maintained by Jefferies. The stock has “Outperform” rating by RBC Capital Markets on Wednesday, November 15. Citigroup maintained it with “Buy” rating and $188 target in Thursday, November 16 report. The company was maintained on Wednesday, August 16 by Bank of America. The stock has “Hold” rating by Cantor Fitzgerald on Monday, August 17. The stock has “Neutral” rating by Atlantic Securities on Thursday, May 11. Raymond James upgraded The Home Depot, Inc. (NYSE:HD) on Wednesday, August 16 to “Outperform” rating.

Since September 7, 2017, it had 0 insider purchases, and 3 sales for $14.57 million activity. Roseborough Teresa Wynn sold $1.97M worth of stock.

- Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


>