Community Bank N.A. held its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,583 shares of the bank’s stock at the end of the second quarter. Community Bank N.A.’s holdings in Bank Of New York Mellon Corporation (The) were worth $234,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. increased 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. New England Asset Management Inc. increased its stake in Bank Of New York Mellon Corporation (The) by 92,225.0% in the first quarter. New England Asset Management Inc. now owns 3,693,000 shares of the bank’s stock worth $174,420,000 after buying an additional 3,689,000 shares during the last quarter. American Century Companies Inc. increased its stake in Bank Of New York Mellon Corporation (The) by 135.6% in the first quarter. American Century Companies Inc. now owns 3,776,619 shares of the bank’s stock worth $178,370,000 after buying an additional 2,173,699 shares during the last quarter. Vanguard Group Inc. increased 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. Finally, AQR Capital Management LLC increased its stake in Bank Of New York Mellon Corporation (The) by 82.1% in the first quarter. AQR Capital Management LLC now owns 3,102,607 shares of the bank’s stock worth $146,536,000 after buying an additional 1,399,039 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE:BK) opened at 52.36 on Thursday. The company has a market capitalization of $54.10 billion, a P/E ratio of 15.53 and a beta of 1.15. The firm has a 50-day moving average price of $52.90 and a 200 day moving average price of $49.04. Bank Of New York Mellon Corporation has a 52-week low of $38.68 and a 52-week high of $54.59.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the firm earned $0.76 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts predict that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

Bank Of New York Mellon Corporation (The) declared that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that allows the company to repurchase $3.10 billion in shares. This repurchase authorization allows the bank to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were issued a $0.24 dividend. This is an increase from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.83%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 28.40%.

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BK has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, June 21st. Jefferies Group LLC reiterated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, July 11th. Bank of America Corporation set a $52.00 price objective on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a research report on Friday, July 21st. Royal Bank Of Canada restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Finally, Deutsche Bank AG upped 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 report on Friday, July 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $53.47.

In related news, Vice Chairman Brian T. Shea sold 44,250 shares of the stock in a transaction dated 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 completion of the transaction, the insider now owns 204,043 shares of the company’s stock, valued at approximately $10,793,874.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Gerald L. Hassell sold 700,719 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $53.91, for a total transaction of $37,775,761.29. Following the completion of the transaction, the chairman now directly owns 1,253,522 shares of the company’s stock, valued at approximately $67,577,371.02. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,931,137 shares of company stock valued at $581,058,723. 3.60% of the stock is owned by insiders.

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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