Pictet Asset Management Ltd. decreased its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 4.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 578,460 shares of the bank’s stock after selling 26,300 shares during the period. Pictet Asset Management Ltd. owned 0.06% of Bank Of New York Mellon Corporation (The) worth $27,257,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Bank Of New York Mellon Corporation (The) by 3.0% in the first quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock worth $3,133,681,000 after buying an additional 1,905,810 shares during the last quarter. BlackRock Inc. boosted its stake in Bank Of New York Mellon Corporation (The) by 2,064.6% in the first quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock worth $2,727,121,000 after buying an additional 55,073,730 shares during the last quarter. Longview Partners Guernsey LTD boosted its stake in Bank Of New York Mellon Corporation (The) by 4.6% in the second quarter. Longview Partners Guernsey LTD now owns 16,519,184 shares of the bank’s stock worth $842,809,000 after buying an additional 726,898 shares during the last quarter. Geode Capital Management LLC boosted its stake in Bank Of New York Mellon Corporation (The) by 11.6% in the first quarter. Geode Capital Management LLC now owns 10,413,009 shares of the bank’s stock worth $491,122,000 after buying an additional 1,085,595 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Bank Of New York Mellon Corporation (The) by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 9,807,053 shares of the bank’s stock worth $463,187,000 after buying an additional 780,125 shares during the last quarter. 82.02% of the stock is owned by institutional investors.

Bank Of New York Mellon Corporation (BK) opened at 52.77 on Thursday. The stock has a market capitalization of $54.52 billion, a P/E ratio of 15.65 and a beta of 1.15. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.59. The company has a 50-day moving average price of $52.84 and a 200 day moving average price of $48.96.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same period last year, the firm earned $0.76 earnings per share. The business’s revenue for the quarter was up .4% on a year-over-year basis. On average, equities analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were paid a $0.24 dividend. The ex-dividend date was 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 dividend on an annualized basis and a yield of 1.82%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 28.40%.

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

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Several research firms have recently commented on BK. Bank of America Corporation reissued an “underperform” rating and issued a $49.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, May 26th. BidaskClub cut Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Deutsche Bank AG raised 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. 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. Finally, Wells Fargo & Company began coverage on Bank Of New York Mellon Corporation (The) in a report on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 price target for the company. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $53.12.

In other news, CEO Charles W. Scharf purchased 186,900 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Tuesday, August 8th. The shares were bought at an average cost of $53.82 per share, with a total value of $10,058,958.00. Following the completion of the transaction, the chief executive officer now directly owns 73,640 shares in the company, valued at approximately $3,963,304.80. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Brian T. Shea sold 44,250 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the transaction, the insider now directly 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 ninety days, insiders sold 10,931,137 shares of company stock worth $581,058,723. 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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