Bank of New York Mellon Corp Sells 179,161 Shares of Bank of New York Mellon Corp (BK)

Bank of New York Mellon Corp trimmed its holdings in shares of Bank of New York Mellon Corp (NYSE:BK) by 2.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 6,798,418 shares of the bank’s stock after selling 179,161 shares during the period. Bank of New York Mellon Corp’s holdings in Bank of New York Mellon were worth $366,639,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. FDx Advisors Inc. boosted its position in Bank of New York Mellon by 1.9% in the 1st quarter. FDx Advisors Inc. now owns 50,576 shares of the bank’s stock valued at $2,606,000 after buying an additional 930 shares during the last quarter. Financial Engines Advisors L.L.C. lifted its stake in shares of Bank of New York Mellon by 5.1% in the 1st quarter. Financial Engines Advisors L.L.C. now owns 185,037 shares of the bank’s stock valued at $9,535,000 after purchasing an additional 8,917 shares during the period. Miracle Mile Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 1st quarter valued at $1,623,000. WealthTrust Axiom LLC lifted its stake in shares of Bank of New York Mellon by 183.2% in the 1st quarter. WealthTrust Axiom LLC now owns 16,646 shares of the bank’s stock valued at $857,000 after purchasing an additional 10,769 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of Bank of New York Mellon by 73.3% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 30,072 shares of the bank’s stock valued at $1,550,000 after purchasing an additional 12,717 shares during the period. Institutional investors own 82.82% of the company’s stock.

A number of research firms have recently weighed in on BK. ValuEngine downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Morgan Stanley increased their price target on Bank of New York Mellon from $66.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, April 20th. Credit Suisse Group increased their price target on Bank of New York Mellon from $57.00 to $58.00 and gave the company a “neutral” rating in a research note on Friday, April 20th. Zacks Investment Research downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a research note on Monday, May 21st. Finally, Keefe, Bruyette & Woods set a $56.00 price target on Bank of New York Mellon and gave the company a “hold” rating in a research note on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $58.70.



Shares of Bank of New York Mellon stock opened at $50.97 on Wednesday. The firm has a market cap of $51.02 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.59 and a beta of 1.09. Bank of New York Mellon Corp has a 12 month low of $49.39 and a 12 month high of $58.99. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.69 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Thursday, July 19th. The bank reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.01. The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $4.13 billion. Bank of New York Mellon had a return on equity of 11.40% and a net margin of 25.08%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.88 EPS. analysts expect that Bank of New York Mellon Corp will post 4.18 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 10th. Investors of record on Tuesday, July 31st were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Monday, July 30th. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.24. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 31.11%.

Bank of New York Mellon announced that its Board of Directors has approved a stock buyback program on Thursday, June 28th that allows the company to buyback $2.40 billion in outstanding shares. This buyback authorization allows the bank to buy up to 4.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Bank of New York Mellon Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BK)

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