Independent Investors Inc. maintained its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,000 shares of the bank’s stock at the end of the second quarter. Independent Investors Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $1,020,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its position in shares of 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 valued at $104,000 after buying an additional 92 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter valued at approximately $111,000. Hudock Capital Group LLC increased its position in shares of 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 valued at $120,000 after buying an additional 7 shares in the last quarter. QCI Asset Management Inc. NY bought a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter valued at approximately $125,000. Finally, Exane Derivatives bought a new position in shares of Bank Of New York Mellon Corporation (The) during the second quarter valued at approximately $130,000. Institutional investors and hedge funds own 82.02% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE:BK) opened at 52.10 on Monday. The stock has a market capitalization of $53.83 billion, a PE ratio of 15.45 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 company’s 50 day moving average price is $52.79 and its 200-day moving average price is $48.77.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the business posted $0.76 earnings per share. The company’s quarterly revenue 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 year.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were given a dividend of $0.24 per share. The ex-dividend date was Friday, July 28th. This is an increase from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. This represents a $0.96 dividend on an annualized basis and a yield of 1.84%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is 28.40%.

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Several research analysts have commented on BK shares. Deutsche Bank AG raised their target price 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. BidaskClub upgraded 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 restated 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. Zacks Investment Research upgraded 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 restated 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 research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned 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 Bank Of New York Mellon Corporation (The) news, Chairman Gerald L. Hassell sold 1,788 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $94,835.52. Following the sale, the chairman now directly owns 872,606 shares in the company, valued at $46,283,022.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $52.90, for a total value of $2,340,825.00. Following the sale, the insider now owns 204,043 shares in the company, valued at $10,793,874.70. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,931,137 shares of company stock worth $581,058,723. Company insiders own 3.60% of the company’s stock.

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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