Gateway Investment Advisers LLC lowered its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 73,594 shares of the bank’s stock after selling 1,334 shares during the period. Gateway Investment Advisers LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $3,755,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Bank of Montreal Can raised its position in Bank Of New York Mellon Corporation (The) by 0.7% in the second quarter. Bank of Montreal Can now owns 733,211 shares of the bank’s stock valued at $37,407,000 after buying an additional 5,012 shares during the period. Portland Global Advisors LLC raised its position in Bank Of New York Mellon Corporation (The) by 2.4% in the second quarter. Portland Global Advisors LLC now owns 56,189 shares of the bank’s stock valued at $2,867,000 after buying an additional 1,320 shares during the period. Lincoln Capital LLC raised its position in Bank Of New York Mellon Corporation (The) by 0.5% in the second quarter. Lincoln Capital LLC now owns 88,137 shares of the bank’s stock valued at $4,497,000 after buying an additional 468 shares during the period. New England Research & Management Inc. bought a new position in Bank Of New York Mellon Corporation (The) during the second quarter valued at approximately $337,000. Finally, Atria Investments LLC raised its position in Bank Of New York Mellon Corporation (The) by 55.3% in the second quarter. Atria Investments LLC now owns 9,437 shares of the bank’s stock valued at $482,000 after buying an additional 3,362 shares during the period. 82.44% of the stock is owned by institutional investors.

Bank Of New York Mellon Corporation (NYSE BK) traded down 3.1042% during midday trading on Thursday, reaching $52.3625. The company’s stock had a trading volume of 3,077,706 shares. The firm has a 50-day moving average price of $52.28 and a 200 day moving average price of $48.41. The stock has a market capitalization of $54.10 billion, a price-to-earnings ratio of 15.5286 and a beta of 1.15. Bank Of New York Mellon Corporation has a 52-week low of $38.68 and a 52-week high of $54.59.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate 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 firm’s revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.76 EPS. Equities research analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Tuesday, August 1st will be paid a $0.24 dividend. This is an increase from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, July 28th. This represents a $0.96 annualized dividend and a yield of 1.78%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is presently 28.40%.

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Several research firms have recently commented on BK. Wells Fargo & Company began coverage on Bank Of New York Mellon Corporation (The) in a report on Wednesday. They set a “market perform” rating and a $55.00 target price for the company. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Sunday. Zacks Investment Research raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday, July 24th. 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. Finally, Bank of America Corporation set a $52.00 price objective on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $53.12.

In related news, Chairman Gerald L. Hassell sold 700,719 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $53.91, for a total value of $37,775,761.29. Following the completion of the transaction, the chairman now owns 1,253,522 shares of the company’s stock, valued at approximately $67,577,371.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Charles W. Scharf acquired 186,900 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was bought at an average cost of $53.82 per share, with a total value of $10,058,958.00. Following the purchase, the chief executive officer now owns 73,640 shares in the company, valued at $3,963,304.80. The disclosure for this purchase can be found here. 3.60% of the stock is owned by corporate insiders.

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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