Stewart & Patten Co. LLC lifted its position in shares of Bank of New York Mellon Corp (NYSE:BK) by 4.4% during the third quarter, Holdings Channel reports. The firm owned 288,001 shares of the bank’s stock after acquiring an additional 12,164 shares during the quarter. Bank of New York Mellon makes up about 2.3% of Stewart & Patten Co. LLC’s portfolio, making the stock its 22nd largest holding. Stewart & Patten Co. LLC’s holdings in Bank of New York Mellon were worth $13,021,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of BK. Longview Partners Guernsey LTD increased its position in shares of Bank of New York Mellon by 31.4% during the second quarter. Longview Partners Guernsey LTD now owns 26,407,419 shares of the bank’s stock worth $1,165,888,000 after purchasing an additional 6,313,870 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Bank of New York Mellon by 14,319.7% during the second quarter. Nuveen Asset Management LLC now owns 4,289,149 shares of the bank’s stock worth $189,366,000 after purchasing an additional 4,259,404 shares in the last quarter. Macquarie Group Ltd. increased its position in shares of Bank of New York Mellon by 8.2% during the second quarter. Macquarie Group Ltd. now owns 15,625,495 shares of the bank’s stock worth $689,865,000 after purchasing an additional 1,190,481 shares in the last quarter. Invesco Ltd. increased its position in shares of Bank of New York Mellon by 17.3% during the second quarter. Invesco Ltd. now owns 7,626,951 shares of the bank’s stock worth $336,730,000 after purchasing an additional 1,126,449 shares in the last quarter. Finally, Balyasny Asset Management LLC increased its position in shares of Bank of New York Mellon by 11,850.1% during the second quarter. Balyasny Asset Management LLC now owns 753,813 shares of the bank’s stock worth $33,281,000 after purchasing an additional 747,505 shares in the last quarter. Institutional investors and hedge funds own 82.39% of the company’s stock.

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut their target price on Bank of New York Mellon from $47.00 to $45.00 and set an “underweight” rating on the stock in a research report on Thursday, October 10th. Wolfe Research upgraded Bank of New York Mellon from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods upgraded Bank of New York Mellon from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $46.00 to $47.00 in a research report on Thursday, July 18th. Deutsche Bank dropped their price target on Bank of New York Mellon from $47.00 to $45.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Finally, UBS Group dropped their price target on Bank of New York Mellon from $49.00 to $45.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $48.50.

BK traded up $0.01 during trading on Thursday, reaching $44.45. The company’s stock had a trading volume of 102,224 shares, compared to its average volume of 6,094,028. Bank of New York Mellon Corp has a 52-week low of $40.52 and a 52-week high of $54.27. The company’s fifty day moving average price is $44.18 and its 200-day moving average price is $45.60. The company has a market capitalization of $41.39 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 1.35 and a beta of 1.12. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, October 16th. The bank reported $1.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.08. Bank of New York Mellon had a return on equity of 10.74% and a net margin of 19.93%. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the company earned $1.06 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts predict that Bank of New York Mellon Corp will post 3.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Monday, October 28th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Friday, October 25th. Bank of New York Mellon’s dividend payout ratio is presently 29.45%.

Bank of New York Mellon announced that its Board of Directors has approved a stock buyback program on Thursday, June 27th that permits the company to buyback $3.94 billion in outstanding shares. This buyback authorization permits the bank to buy up to 9.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other Bank of New York Mellon news, Vice Chairman Thomas P. Gibbons sold 318,556 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $46.72, for a total value of $14,882,936.32. Following the sale, the insider now owns 539,052 shares of the company’s stock, valued at approximately $25,184,509.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.71% of the stock is currently owned by insiders.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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