Jacobi Capital Management LLC lessened its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 7.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,652 shares of the bank’s stock after selling 1,000 shares during the period. Jacobi Capital Management LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $656,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Eqis Capital Management Inc. grew its holdings in Bank Of New York Mellon Corporation (The) by 10.2% during the 1st quarter. Eqis Capital Management Inc. now owns 36,201 shares of the bank’s stock worth $1,710,000 after acquiring an additional 3,341 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Bank Of New York Mellon Corporation (The) by 2.2% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,350,774 shares of the bank’s stock worth $158,257,000 after acquiring an additional 73,432 shares in the last quarter. LSV Asset Management grew its holdings in Bank Of New York Mellon Corporation (The) by 136.4% during the 1st quarter. LSV Asset Management now owns 319,445 shares of the bank’s stock worth $15,087,000 after acquiring an additional 184,300 shares in the last quarter. Eagle Ridge Investment Management grew its holdings in Bank Of New York Mellon Corporation (The) by 6.3% during the 1st quarter. Eagle Ridge Investment Management now owns 139,573 shares of the bank’s stock worth $6,592,000 after acquiring an additional 8,237 shares in the last quarter. Finally, Cypress Capital Management LLC grew its holdings in Bank Of New York Mellon Corporation (The) by 3.6% during the 1st quarter. Cypress Capital Management LLC now owns 159,260 shares of the bank’s stock worth $7,522,000 after acquiring an additional 5,500 shares in the last quarter. 81.80% of the stock is currently owned by institutional investors.

Shares of Bank Of New York Mellon Corporation (BK) opened at 51.56 on Friday. The company has a 50-day moving average of $52.43 and a 200-day moving average of $49.53. The firm has a market capitalization of $53.27 billion, a PE ratio of 15.29 and a beta of 1.14. 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 released its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share 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 firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up .4% compared to the same quarter last year. Equities research analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

Bank Of New York Mellon Corporation (The) declared that its Board of Directors has initiated 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 repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In related news, Chairman Gerald L. Hassell sold 700,719 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $53.91, for a total value 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 $67,577,371.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the company’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 value of $2,340,825.00. Following the completion of the transaction, the insider now directly owns 204,043 shares of the company’s stock, valued at $10,793,874.70. The disclosure for this sale can be found here. Insiders sold 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 corporate insiders.

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Several research analysts have issued reports on the stock. Jefferies Group LLC reiterated a “hold” rating and set a $56.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Friday. UBS AG cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 target price on the stock. in a report on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating and set a $58.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Thursday, August 31st. Wells Fargo & Company assumed coverage on shares of Bank Of New York Mellon Corporation (The) in a report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 target price on the stock. Finally, BidaskClub upgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Bank Of New York Mellon Corporation (The) currently has a consensus rating of “Hold” and a consensus target price of $53.82.

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.

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

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