Moors & Cabot Inc. held its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,387 shares of the bank’s stock at the close of the second quarter. Moors & Cabot Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,009,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Berkshire Hathaway Inc. lifted its stake in Bank Of New York Mellon Corporation (The) by 52.2% in the second 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 during the period. Green Square Capital LLC acquired a new position in Bank Of New York Mellon Corporation (The) in the second quarter valued at approximately $317,000. First Commonwealth Financial Corp PA lifted its stake in Bank Of New York Mellon Corporation (The) by 4.1% in the second quarter. First Commonwealth Financial Corp PA now owns 4,490 shares of the bank’s stock valued at $229,000 after buying an additional 175 shares during the period. BlueCrest Capital Management Ltd acquired a new position in Bank Of New York Mellon Corporation (The) in the second quarter valued at approximately $1,259,000. Finally, Janus Henderson Group PLC lifted its stake in Bank Of New York Mellon Corporation (The) by 433.6% in the second quarter. Janus Henderson Group PLC now owns 711,345 shares of the bank’s stock valued at $36,293,000 after buying an additional 578,034 shares during the period. 81.78% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have issued reports on BK shares. Royal Bank Of Canada reissued a “hold” rating and issued a $58.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Thursday, August 31st. UBS AG lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research report on Friday, September 8th. Jefferies Group LLC reaffirmed a “hold” rating and set a $56.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, September 15th. Bank of America Corporation set a $52.00 target price on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a research report on Friday, July 21st. Finally, BidaskClub lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.25.

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

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.04. The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations 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%. The firm’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.76 earnings per share. On average, 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 has authorized a stock buyback program 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 programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Brian T. Shea sold 44,250 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the completion of the transaction, the insider now owns 204,043 shares in the company, valued at $10,793,874.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles W. Scharf acquired 186,900 shares of the stock in a transaction on Tuesday, August 8th. The shares were bought at an average price of $53.82 per share, with a total value of $10,058,958.00. Following the purchase, the chief executive officer now directly owns 73,640 shares of the company’s stock, valued at approximately $3,963,304.80. The disclosure for this purchase can be found here. Insiders have sold 10,931,137 shares of company stock valued at $581,058,723 in the last quarter. 3.60% of the stock is owned by company insiders.

TRADEMARK VIOLATION WARNING: This story was originally reported by Watch List News and is the property of of Watch List News. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://www.watchlistnews.com/moors-cabot-inc-maintains-stake-in-bank-of-new-york-mellon-corporation-the-bk/1615826.html.

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.

Want to see what other hedge funds are holding BK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank Of New York Mellon Corporation (The) (NYSE:BK).

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

Receive News & Ratings for Bank Of New York Mellon Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of New York Mellon Corporation (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.