Stockman Wealth Management Inc. lowered its holdings in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 74.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 16,681 shares of the bank’s stock after selling 49,196 shares during the period. Stockman Wealth Management Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $851,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Hudock Capital Group LLC raised its stake in shares of Bank Of New York Mellon Corporation (The) by 0.3% during the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after acquiring an additional 7 shares during the last quarter. Kistler Tiffany Companies LLC raised its stake in shares of Bank Of New York Mellon Corporation (The) by 0.3% during the second quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock valued at $212,000 after acquiring an additional 12 shares during the last quarter. CHICAGO TRUST Co NA raised its stake in shares of Bank Of New York Mellon Corporation (The) by 0.5% during the second quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock valued at $307,000 after acquiring an additional 29 shares during the last quarter. Cpcm LLC raised its stake in shares of Bank Of New York Mellon Corporation (The) by 0.4% during the first quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock valued at $458,000 after acquiring an additional 35 shares during the last quarter. Finally, First Bank & Trust raised its stake in shares of Bank Of New York Mellon Corporation (The) by 1.1% during the second quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock valued at $245,000 after acquiring an additional 52 shares during the last quarter. 81.80% of the stock is owned by hedge funds and other institutional investors.

Several research firms have recently issued reports on BK. 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 reissued 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 reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, July 21st. Bank of America Corporation set a $52.00 target price 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. Finally, Buckingham Research reissued 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 research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Bank Of New York Mellon Corporation (The) currently has an average rating of “Hold” and a consensus target price of $53.59.

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Shares of Bank Of New York Mellon Corporation (BK) opened at 51.99 on Wednesday. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.59. The firm has a 50-day moving average of $52.63 and a 200-day moving average of $49.44. The firm has a market capitalization of $53.71 billion, a PE ratio of 15.42 and a beta of 1.14.

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, topping 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 company had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter last year, the business earned $0.76 EPS. The firm’s revenue was up .4% compared to the same quarter last year. Equities 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 has approved 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 reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Brian T. Shea sold 44,250 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 204,043 shares in the company, valued at approximately $10,793,874.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $53.95, for a total transaction of $9,947,301.00. Following the sale, the insider now owns 455,927 shares in the company, valued at approximately $24,597,261.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,931,137 shares of company stock worth $581,058,723. 3.60% of the stock is owned by company insiders.

Bank Of New York Mellon Corporation (The) 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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