First Allied Advisory Services Inc. boosted its holdings in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,164 shares of the bank’s stock after buying an additional 456 shares during the period. First Allied Advisory Services Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $1,346,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Northstar Wealth Partners LLC acquired a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter valued at about $546,000. MUFG Americas Holdings Corp lifted its stake in shares of Bank Of New York Mellon Corporation (The) by 5.3% in the second quarter. MUFG Americas Holdings Corp now owns 263,993 shares of the bank’s stock valued at $13,469,000 after buying an additional 13,228 shares during the period. Dupont Capital Management Corp acquired a new stake in Bank Of New York Mellon Corporation (The) during the second quarter worth about $304,000. Community Bank & Trust Waco Texas grew its position in Bank Of New York Mellon Corporation (The) by 5.3% during the first quarter. Community Bank & Trust Waco Texas now owns 17,182 shares of the bank’s stock worth $812,000 after buying an additional 863 shares in the last quarter. Finally, Everence Capital Management Inc. grew its position in Bank Of New York Mellon Corporation (The) by 35.1% during the second quarter. Everence Capital Management Inc. now owns 29,004 shares of the bank’s stock worth $1,480,000 after buying an additional 7,530 shares in the last quarter. 81.78% of the stock is currently owned by institutional investors.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.217% during midday trading on Monday, hitting $53.135. 119,600 shares of the company were exchanged. The company has a market capitalization of $54.90 billion, a P/E ratio of 15.758 and a beta of 1.15. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The company has a 50-day moving average of $52.37 and a 200 day moving average of $49.62.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations 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 previous year, the firm earned $0.76 EPS. On average, equities research analysts expect 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 has approved a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $3.10 billion in outstanding shares. This repurchase authorization permits the bank to purchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

ILLEGAL ACTIVITY WARNING: “Bank Of New York Mellon Corporation (The) (BK) Holdings Lifted by First Allied Advisory Services Inc.” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another domain, it was copied illegally and republished in violation of international copyright & trademark laws. The correct version of this article can be read at https://www.thecerbatgem.com/2017/10/02/bank-of-new-york-mellon-corporation-the-bk-holdings-lifted-by-first-allied-advisory-services-inc.html.

In related news, CEO Charles W. Scharf purchased 186,900 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average price of $53.82 per share, with a total value of $10,058,958.00. Following the completion of the purchase, the chief executive officer now directly owns 73,640 shares in the company, valued at $3,963,304.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the business’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 transaction, the insider now directly owns 204,043 shares of the company’s stock, valued at approximately $10,793,874.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,931,137 shares of company stock worth $581,058,723. 3.60% of the stock is currently owned by insiders.

Several equities analysts recently issued reports on the company. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Zacks Investment Research cut Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. Buckingham Research reiterated a “neutral” rating and issued a $57.00 price objective (up previously from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, July 10th. 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. Finally, Deutsche Bank AG lifted 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 report on Friday, July 21st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Bank Of New York Mellon Corporation (The) presently has a consensus rating of “Hold” and an average target price of $54.25.

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)

Receive News & Stock Ratings for Bank Of New York Mellon Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of New York Mellon Corporation (The) and related stocks with our FREE daily email newsletter.