Wellington Shields Capital Management LLC maintained its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,130 shares of the bank’s stock at the end of the second quarter. Wellington Shields Capital Management LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $364,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. boosted its stake in Bank Of New York Mellon Corporation (The) by 4.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock worth $104,000 after buying an additional 92 shares in the last quarter. Advisory Services Network LLC purchased a new stake in Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $111,000. Hudock Capital Group LLC boosted 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. QCI Asset Management Inc. NY purchased a new stake in Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $125,000. Finally, Exane Derivatives purchased a new stake in Bank Of New York Mellon Corporation (The) during the second quarter worth approximately $130,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE BK) traded up 0.934% during trading on Friday, hitting $52.435. 3,302,521 shares of the stock were exchanged. The firm’s 50-day moving average is $52.35 and its 200 day moving average is $48.43. Bank Of New York Mellon Corporation has a 52 week low of $38.68 and a 52 week high of $54.59. The firm has a market cap of $54.17 billion, a PE ratio of 15.550 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period in the previous year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. Analysts expect that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

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

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

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A number of equities analysts recently weighed in on BK shares. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Rafferty Capital Markets reaffirmed a “buy” rating and issued a $53.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 25th. Deutsche Bank AG upped their target price on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Zacks Investment Research raised shares of 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 research note on Monday, July 24th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Bank Of New York Mellon Corporation (The) has an average rating of “Hold” and an average price target of $53.12.

In other news, CEO Charles W. Scharf purchased 186,900 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were acquired at an average cost of $53.82 per share, for a total transaction of $10,058,958.00. Following the completion of the acquisition, the chief executive officer now owns 73,640 shares in the company, valued at $3,963,304.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Gerald L. Hassell sold 700,719 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $53.91, for a total transaction of $37,775,761.29. Following the transaction, the chairman now owns 1,253,522 shares in the company, valued at $67,577,371.02. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by 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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