Keybank National Association OH lessened its position in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 231,597 shares of the bank’s stock after selling 17,725 shares during the period. Keybank National Association OH’s holdings in Bank Of New York Mellon Corporation (The) were worth $11,816,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Northstar Wealth Partners LLC bought a new position in Bank Of New York Mellon Corporation (The) during the 1st quarter worth about $546,000. Community Bank & Trust Waco Texas increased its holdings in Bank Of New York Mellon Corporation (The) by 5.3% during the 1st quarter. Community Bank & Trust Waco Texas now owns 17,182 shares of the bank’s stock worth $812,000 after purchasing an additional 863 shares in the last quarter. Vanguard Group Inc. increased its holdings in Bank Of New York Mellon Corporation (The) by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock worth $3,133,681,000 after purchasing an additional 1,905,810 shares in the last quarter. Dupont Capital Management Corp bought a new position in Bank Of New York Mellon Corporation (The) during the 2nd quarter worth about $304,000. Finally, MUFG Americas Holdings Corp increased its holdings in Bank Of New York Mellon Corporation (The) by 5.3% during the 2nd quarter. MUFG Americas Holdings Corp now owns 263,993 shares of the bank’s stock worth $13,469,000 after purchasing an additional 13,228 shares in the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.

A number of equities analysts have issued reports on the company. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Buckingham Research reiterated a “neutral” rating and set a $57.00 target price (up previously from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. Jefferies Group LLC reiterated a “hold” rating and set a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Wednesday, May 17th. 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 report on Monday, July 24th. Finally, Bank of America Corporation set a $49.00 target price on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Saturday, May 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Bank Of New York Mellon Corporation (The) currently has an average rating of “Hold” and an average price target of $53.59.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Brian T. Shea sold 44,250 shares of the company’s 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 sale, the insider now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gerald L. Hassell sold 1,788 shares of the company’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $94,835.52. Following the completion of the sale, the chairman now directly owns 872,606 shares of the company’s stock, valued at $46,283,022.24. The disclosure for this sale can be found here. Insiders sold a total of 10,931,137 shares of company stock valued at $581,058,723 over the last ninety days. 3.60% of the stock is currently owned by insiders.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) opened at 50.43 on Friday. The firm has a market capitalization of $52.10 billion, a P/E ratio of 14.96 and a beta of 1.14. The company has a 50-day moving average of $52.68 and a 200 day moving average of $49.38. 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 issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period in the prior year, the firm posted $0.76 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. Equities research analysts anticipate 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 buyback program on Wednesday, June 28th that permits the company to repurchase $3.10 billion in shares. This repurchase authorization permits the bank to purchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.90%. 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. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is presently 28.40%.

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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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