Jarislowsky Fraser Ltd lowered its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 825,253 shares of the bank’s stock after selling 47,331 shares during the period. Jarislowsky Fraser Ltd owned about 0.08% of Bank Of New York Mellon Corporation (The) worth $38,976,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in BK. Northstar Wealth Partners LLC acquired a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth about $546,000. Dodge & Cox purchased a new stake in Bank Of New York Mellon Corporation (The) during the fourth quarter valued at about $2,352,702,000. Community Bank & Trust Waco Texas raised its stake in Bank Of New York Mellon Corporation (The) by 5.3% in the first quarter. Community Bank & Trust Waco Texas now owns 17,182 shares of the bank’s stock valued at $812,000 after buying an additional 863 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Bank Of New York Mellon Corporation (The) by 31.4% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 70,046 shares of the bank’s stock valued at $3,309,000 after buying an additional 16,740 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in Bank Of New York Mellon Corporation (The) by 1.1% in the fourth quarter. AQR Capital Management LLC now owns 1,703,568 shares of the bank’s stock valued at $80,715,000 after buying an additional 18,185 shares in the last quarter. 82.51% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.37% during trading on Friday, hitting $54.02. The company had a trading volume of 3,150,929 shares. The company has a market capitalization of $55.81 billion, a price-to-earnings ratio of 16.02 and a beta of 1.15. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The stock has a 50-day moving average of $51.59 and a 200 day moving average of $48.08.

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 for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.04. The business had revenue of $3.96 billion for 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 revenue was up .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.76 earnings per share. Equities analysts forecast that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

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

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

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A number of research analysts recently commented on the company. BidaskClub cut Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday. Zacks Investment Research upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, July 24th. Royal Bank Of Canada restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, July 21st. Bank of America Corporation set a $52.00 price objective on Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a report on Friday, July 21st. Finally, Deutsche Bank AG increased their price objective on 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. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $53.00.

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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