ClariVest Asset Management LLC decreased its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 3.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 828,208 shares of the bank’s stock after selling 32,851 shares during the period. Bank Of New York Mellon Corporation (The) makes up about 1.0% of ClariVest Asset Management LLC’s holdings, making the stock its 20th largest position. ClariVest Asset Management LLC owned about 0.08% of Bank Of New York Mellon Corporation (The) worth $39,117,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barings LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 225.2% in the fourth quarter. Barings LLC now owns 56,752 shares of the bank’s stock valued at $2,689,000 after buying an additional 39,300 shares during the period. CAMG Solamere Management LLC purchased a new position in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter valued at approximately $384,000. Boothbay Fund Management LLC purchased a new position in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter valued at approximately $365,000. Cigna Investments Inc. New bought a new position in Bank Of New York Mellon Corporation (The) during the fourth quarter valued at about $1,845,000. Finally, Horizon Kinetics LLC raised its position in Bank Of New York Mellon Corporation (The) by 0.4% in the fourth quarter. Horizon Kinetics LLC now owns 37,572 shares of the bank’s stock valued at $1,780,000 after buying an additional 152 shares during the last quarter. 82.51% of the stock is currently owned by institutional investors and hedge funds.

Bank Of New York Mellon Corporation (NYSE BK) traded down 0.17% on Thursday, reaching $53.82. 2,849,092 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $51.59 and a 200-day moving average of $48.08. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.59. The company has a market cap of $55.60 billion, a P/E ratio of 16.51 and a beta of 1.14.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its earnings results 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 firm 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 net margin of 23.35% and a return on equity of 10.35%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 EPS. Equities analysts expect that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.24 per share. 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 1.78%. The ex-dividend date is Friday, July 28th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is presently 28.40%.

Bank Of New York Mellon Corporation (The) announced 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 outstanding shares. This repurchase authorization allows the bank to reacquire 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.

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BK has been the subject of several recent analyst reports. Rafferty Capital Markets restated a “buy” rating and issued a $53.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 25th. Bank of America Corporation reaffirmed an “underperform” rating and issued a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, May 26th. BidaskClub lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday. 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 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 investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Bank Of New York Mellon Corporation (The) currently has a consensus rating of “Hold” and an average price target of $53.00.

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.

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

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