Bank of The West boosted its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 30.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,058 shares of the bank’s stock after buying an additional 6,060 shares during the period. Bank of The West’s holdings in Bank Of New York Mellon Corporation (The) were worth $1,329,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Hudock Capital Group LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Hudock Capital Group LLC now owns 2,549 shares of the bank’s stock worth $120,000 after buying an additional 7 shares in the last quarter. Kistler Tiffany Companies LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Kistler Tiffany Companies LLC now owns 4,142 shares of the bank’s stock worth $196,000 after buying an additional 13 shares in the last quarter. Alpha Windward LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.4% in the first quarter. Alpha Windward LLC now owns 5,648 shares of the bank’s stock worth $267,000 after buying an additional 24 shares in the last quarter. Cpcm LLC raised its stake in Bank Of New York Mellon Corporation (The) by 0.4% in the first quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock worth $458,000 after buying an additional 35 shares in the last quarter. Finally, Rehmann Capital Advisory Group raised its stake in Bank Of New York Mellon Corporation (The) by 0.7% in the first quarter. Rehmann Capital Advisory Group now owns 5,236 shares of the bank’s stock worth $247,000 after buying an additional 36 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (NYSE BK) traded up 0.83% during trading on Friday, hitting $52.38. 2,930,481 shares of the company’s stock were exchanged. The stock has a market cap of $54.12 billion, a P/E ratio of 15.53 and a beta of 1.15. The firm has a 50-day moving average price of $52.35 and a 200-day moving average price of $48.43. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating the consensus estimate of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the previous year, the business posted $0.76 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. Equities research analysts expect that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

Bank Of New York Mellon Corporation (The) announced that its board has approved a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $3.10 billion in shares. This repurchase authorization allows the bank to buy up to 5.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.96 annualized dividend and a dividend yield of 1.85%. This is a positive change from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. Bank Of New York Mellon Corporation (The)’s payout ratio is currently 28.40%.

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BK has been the subject of a number of research reports. Credit Suisse Group reissued a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, April 21st. Rafferty Capital Markets reissued a “buy” rating and issued a $53.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 25th. Jefferies Group LLC reissued a “hold” rating and issued a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Wednesday, May 17th. Bank of America Corporation reissued an “underperform” rating and issued a $49.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, May 26th. Finally, BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Bank Of New York Mellon Corporation (The) has a consensus rating of “Hold” and an average price target of $53.12.

In other Bank Of New York Mellon Corporation (The) news, CEO Charles W. Scharf purchased 186,900 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Tuesday, August 8th. The stock was acquired at an average price of $53.82 per share, for a total transaction of $10,058,958.00. Following the acquisition, the chief executive officer now owns 73,640 shares in the company, valued at approximately $3,963,304.80. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $53.95, for a total transaction of $9,947,301.00. Following the completion of the sale, the insider now owns 455,927 shares of the company’s stock, valued at approximately $24,597,261.65. The disclosure for this sale can be found here. Insiders own 3.60% of the company’s stock.

Bank Of New York Mellon Corporation (The) Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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