CENTRAL TRUST Co raised its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 14.5% during the second quarter, Holdings Channel reports. The firm owned 5,933 shares of the bank’s stock after buying an additional 750 shares during the period. CENTRAL TRUST Co’s holdings in Bank Of New York Mellon Corporation (The) were worth $303,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Hudock Capital Group LLC increased 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 valued at $120,000 after buying an additional 7 shares during the period. Kistler Tiffany Companies LLC increased 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 valued at $196,000 after buying an additional 13 shares during the period. Alpha Windward LLC increased 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 valued at $267,000 after buying an additional 24 shares during the period. CHICAGO TRUST Co NA increased its stake in Bank Of New York Mellon Corporation (The) by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock valued at $307,000 after buying an additional 29 shares during the period. Finally, Cpcm LLC increased 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 valued at $458,000 after buying an additional 35 shares during the period. 82.02% of the stock is currently owned by institutional investors and hedge funds.

Bank Of New York Mellon Corporation (NYSE BK) traded down 0.040% during trading on Wednesday, reaching $53.129. 1,623,280 shares of the company’s stock traded hands. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The stock has a market cap of $54.89 billion, a P/E ratio of 15.756 and a beta of 1.15. The firm’s 50 day moving average price is $52.63 and its 200-day moving average price is $48.67.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, topping the consensus estimate of $0.84 by $0.04. The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The business’s revenue was up .4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. On average, equities analysts anticipate that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

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

The business also recently announced a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were given a dividend of $0.24 per share. This is a positive change from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend was Friday, July 28th. Bank Of New York Mellon Corporation (The)’s payout ratio is presently 28.40%.

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Several research firms have recently commented on BK. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, July 11th. Buckingham Research reissued a “neutral” rating and set a $57.00 price target (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. Bank of America Corporation set a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, July 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $53.12.

In other Bank Of New York Mellon Corporation (The) news, Chairman Gerald L. Hassell sold 700,719 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $53.91, for a total transaction of $37,775,761.29. Following the sale, the chairman now directly owns 1,253,522 shares in the company, valued at approximately $67,577,371.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles W. Scharf bought 186,900 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average price of $53.82 per share, for a total transaction of $10,058,958.00. Following the completion of the transaction, the chief executive officer now directly owns 73,640 shares in the company, valued at approximately $3,963,304.80. The disclosure for this purchase can be found here. Insiders have sold a total of 10,885,099 shares of company stock worth $578,623,062 over the last 90 days. Insiders own 3.60% of the company’s stock.

About Bank Of New York Mellon Corporation (The)

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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