IHT Wealth Management LLC maintained its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177 shares of the bank’s stock at the end of the 2nd quarter. Bank Of New York Mellon Corporation (The) makes up approximately 0.8% of IHT Wealth Management LLC’s holdings, making the stock its 19th largest position. IHT Wealth Management LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $1,607,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Bank Of New York Mellon Corporation (The) by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 67,420,467 shares of the bank’s stock valued at $3,439,792,000 after buying an additional 1,071,088 shares in the last quarter. BlackRock Inc. boosted its stake in Bank Of New York Mellon Corporation (The) by 2,064.6% in the 1st quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock valued at $2,727,121,000 after buying an additional 55,073,730 shares in the last quarter. Berkshire Hathaway Inc. boosted its stake in Bank Of New York Mellon Corporation (The) by 52.2% in the 2nd quarter. Berkshire Hathaway Inc. now owns 50,229,588 shares of the bank’s stock valued at $2,562,715,000 after buying an additional 17,217,529 shares in the last quarter. Longview Partners Guernsey LTD boosted its stake in Bank Of New York Mellon Corporation (The) by 4.6% in the 2nd quarter. Longview Partners Guernsey LTD now owns 16,519,184 shares of the bank’s stock valued at $842,809,000 after buying an additional 726,898 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Bank Of New York Mellon Corporation (The) by 5.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 15,129,897 shares of the bank’s stock valued at $771,927,000 after buying an additional 838,301 shares in the last quarter. 81.78% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on BK shares. Deutsche Bank AG boosted their price target on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 21st. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Zacks Investment Research raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Monday, July 24th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, July 21st. Finally, Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $54.25.

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Bank Of New York Mellon Corporation (BK) traded up 0.07% during midday trading on Friday, reaching $54.47. The company had a trading volume of 2,412,384 shares. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.81. The company has a market capitalization of $56.28 billion, a PE ratio of 16.15 and a beta of 1.15. The stock has a 50-day moving average price of $52.33 and a 200 day moving average price of $50.06.

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

Bank Of New York Mellon Corporation (The) announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $3.10 billion in shares. This repurchase authorization permits the bank to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, Vice Chairman Brian T. Shea sold 44,250 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total value of $2,340,825.00. Following the completion of the transaction, the insider now directly owns 204,043 shares of the company’s stock, valued at approximately $10,793,874.70. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Gerald L. Hassell sold 700,719 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Monday, August 7th. The stock was 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 directly owns 1,253,522 shares of the company’s stock, valued at $67,577,371.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,931,137 shares of company stock valued at $581,058,723. 3.60% of the stock is owned by corporate insiders.

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.

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

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