Smith Asset Management Group LP raised its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 5.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 531,582 shares of the bank’s stock after buying an additional 26,335 shares during the period. Smith Asset Management Group LP owned 0.05% of Bank Of New York Mellon Corporation (The) worth $24,826,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Northstar Wealth Partners LLC purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the first quarter valued at approximately $546,000. Community Bank & Trust Waco Texas increased its stake in shares of Bank Of New York Mellon Corporation (The) by 5.3% in the first quarter. Community Bank & Trust Waco Texas now owns 17,182 shares of the bank’s stock valued at $812,000 after buying an additional 863 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 3.0% in the first quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock valued at $3,133,681,000 after buying an additional 1,905,810 shares in the last quarter. BTIM Corp. purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the first quarter valued at approximately $219,000. Finally, BB&T Securities LLC increased its stake in shares of Bank Of New York Mellon Corporation (The) by 188.8% in the first quarter. BB&T Securities LLC now owns 135,025 shares of the bank’s stock valued at $6,377,000 after buying an additional 88,265 shares in the last quarter. Hedge funds and other institutional investors own 81.79% of the company’s stock.

Bank Of New York Mellon Corporation (BK) opened at 52.65 on Monday. The company has a market cap of $54.40 billion, a PE ratio of 15.61 and a beta of 1.15. Bank Of New York Mellon Corporation has a 52-week low of $38.68 and a 52-week high of $54.59. The firm’s 50 day moving average is $52.90 and its 200 day moving average is $49.04.

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 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 firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the firm earned $0.76 EPS. The company’s quarterly revenue was up .4% compared to the same quarter last year. Analysts forecast that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st were given a $0.24 dividend. The ex-dividend date was Friday, July 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.82%. This is an increase from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. Bank Of New York Mellon Corporation (The)’s payout ratio is presently 28.40%.

Bank Of New York Mellon Corporation (The) announced that its board has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $3.10 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 5.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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Several analysts have recently commented on BK shares. Deutsche Bank AG raised their target price on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Bank of America Corporation set a $49.00 target price on Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research note on Saturday, May 27th. 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 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 research note on Monday, July 24th. Finally, Wells Fargo & Company started coverage on Bank Of New York Mellon Corporation (The) in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 target price for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $53.12.

In other Bank Of New York Mellon Corporation (The) news, Director Trian Fund Management, L.P. sold 10,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $53.09, for a total transaction of $530,900,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles W. Scharf bought 186,900 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $53.82 per share, for a total transaction of $10,058,958.00. Following the transaction, the chief executive officer now owns 73,640 shares in the company, valued at approximately $3,963,304.80. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 10,931,137 shares of company stock worth $581,058,723. Insiders own 3.60% of the company’s stock.

Bank Of New York Mellon Corporation (The) Company 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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