RiverPoint Capital Management LLC lowered its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 448,077 shares of the bank’s stock after selling 2,129 shares during the period. Bank Of New York Mellon Corporation (The) accounts for about 1.6% of RiverPoint Capital Management LLC’s investment portfolio, making the stock its 17th largest position. RiverPoint Capital Management LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $22,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Montag A & Associates Inc. boosted its position in Bank Of New York Mellon Corporation (The) by 89.8% in the second quarter. Montag A & Associates Inc. now owns 10,439 shares of the bank’s stock valued at $533,000 after buying an additional 4,938 shares during the last quarter. Everence Capital Management Inc. boosted its position in Bank Of New York Mellon Corporation (The) by 35.1% in the second quarter. Everence Capital Management Inc. now owns 29,004 shares of the bank’s stock valued at $1,480,000 after buying an additional 7,530 shares during the last quarter. BB&T Securities LLC boosted its position in Bank Of New York Mellon Corporation (The) by 31.8% in the second quarter. BB&T Securities LLC now owns 177,976 shares of the bank’s stock valued at $9,080,000 after buying an additional 42,951 shares during the last quarter. Blair William & Co. IL boosted its position in Bank Of New York Mellon Corporation (The) by 1.1% in the second quarter. Blair William & Co. IL now owns 51,475 shares of the bank’s stock valued at $2,626,000 after buying an additional 571 shares during the last quarter. Finally, Ballentine Partners LLC boosted its position in Bank Of New York Mellon Corporation (The) by 42.0% in the second quarter. Ballentine Partners LLC now owns 19,409 shares of the bank’s stock valued at $1,043,000 after buying an additional 5,744 shares during the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at 52.33 on Friday. The firm has a market capitalization of $54.07 billion, a price-to-earnings ratio of 15.52 and a beta of 1.14. The company has a 50-day moving average price of $52.97 and a 200 day moving average price of $49.28. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.59.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.04. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The company’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. On average, equities research analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were paid a $0.24 dividend. This is a positive change 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 1.83%. The ex-dividend date of this dividend was Friday, July 28th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is currently 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 allows the company to repurchase $3.10 billion in outstanding shares. This repurchase authorization allows the bank to purchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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Several research firms have weighed in on BK. Royal Bank Of Canada reiterated a “hold” rating and set a $58.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research report on Thursday. Wells Fargo & Company began coverage on Bank Of New York Mellon Corporation (The) in a research report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price objective on the stock. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. 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 on the stock in a research report on Monday, July 24th. Finally, Bank of America Corporation set a $52.00 target price on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Friday, July 21st. 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 issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.47.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $53.95, for a total value of $9,947,301.00. Following the transaction, the insider now directly owns 455,927 shares in the company, valued at approximately $24,597,261.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was 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 in the company, valued at $10,793,874.70. The disclosure for this sale can be found here. Insiders sold a total of 10,931,137 shares of company stock worth $581,058,723 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.

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.

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

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