Whitnell & Co. maintained its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 17,375 shares of the bank’s stock at the end of the second quarter. Whitnell & Co.’s holdings in Bank Of New York Mellon Corporation (The) were worth $886,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BK. 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 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 valued at about $111,000. Hudock Capital Group LLC increased 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 valued at $120,000 after buying an additional 7 shares during the period. QCI Asset Management Inc. NY purchased a new stake in Bank Of New York Mellon Corporation (The) during the first quarter valued at about $125,000. Finally, Exane Derivatives purchased a new stake in Bank Of New York Mellon Corporation (The) during the second quarter valued at about $130,000. 82.02% of the stock is currently owned by institutional investors and hedge funds.

Bank Of New York Mellon Corporation (BK) opened at 52.10 on Monday. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The firm’s 50-day moving average is $52.79 and its 200 day moving average is $48.77. The firm has a market capitalization of $53.83 billion, a price-to-earnings ratio of 15.45 and a beta of 1.15.

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. Analysts forecast 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 was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were 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 1.84%. The ex-dividend date was 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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Several equities research analysts recently issued reports on the stock. 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, June 20th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, July 11th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, July 21st. Buckingham Research reaffirmed a “neutral” rating and set a $57.00 price target (up previously from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research note on Monday, July 10th. Finally, Bank of America Corporation set a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a research note on Friday, July 21st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $53.12.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $53.95, for a total value of $9,947,301.00. Following the sale, the insider now owns 455,927 shares of the company’s stock, valued at approximately $24,597,261.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the completion of the sale, the insider now directly owns 204,043 shares in the company, valued at approximately $10,793,874.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,931,137 shares of company stock valued at $581,058,723. Corporate 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.

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

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