GWM Advisors LLC raised its holdings in Bank of New York Mellon Corp (NYSE:BK) by 4.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,803 shares of the bank’s stock after buying an additional 792 shares during the period. GWM Advisors LLC’s holdings in Bank of New York Mellon were worth $786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BK. Geode Capital Management LLC lifted its position in Bank of New York Mellon by 6.5% in the fourth quarter. Geode Capital Management LLC now owns 10,721,814 shares of the bank’s stock worth $503,675,000 after purchasing an additional 655,356 shares during the period. Meeder Asset Management Inc. lifted its position in Bank of New York Mellon by 27.7% in the first quarter. Meeder Asset Management Inc. now owns 5,760 shares of the bank’s stock worth $290,000 after purchasing an additional 1,250 shares during the period. Financial Gravity Wealth Inc. acquired a new stake in Bank of New York Mellon in the first quarter worth approximately $41,000. Investors Research Corp acquired a new stake in Bank of New York Mellon in the first quarter worth approximately $117,000. Finally, BB&T Corp lifted its position in Bank of New York Mellon by 28.3% in the first quarter. BB&T Corp now owns 20,833 shares of the bank’s stock worth $1,051,000 after purchasing an additional 4,599 shares during the period. 82.60% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:BK opened at $42.44 on Thursday. Bank of New York Mellon Corp has a one year low of $41.42 and a one year high of $54.27. The stock has a fifty day moving average of $44.77 and a 200-day moving average of $47.89. The company has a market capitalization of $40.27 billion, a PE ratio of 10.08, a price-to-earnings-growth ratio of 1.32 and a beta of 1.07. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data on Wednesday, July 17th. The bank reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.07. Bank of New York Mellon had a return on equity of 10.74% and a net margin of 19.93%. The company had revenue of $3.92 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, research analysts forecast that Bank of New York Mellon Corp will post 3.94 EPS for the current fiscal year.

Bank of New York Mellon announced that its Board of Directors has initiated a stock repurchase plan on Thursday, June 27th that permits the company to buyback $3.94 billion in outstanding shares. This buyback authorization permits the bank to repurchase up to 9.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 9th. Stockholders of record on Monday, July 29th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date was Friday, July 26th. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.28. Bank of New York Mellon’s dividend payout ratio is 29.45%.

In other Bank of New York Mellon news, Vice Chairman Thomas P. Gibbons sold 318,556 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $46.72, for a total transaction of $14,882,936.32. Following the sale, the insider now directly owns 539,052 shares of the company’s stock, valued at approximately $25,184,509.44. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Vice Chairman William M. Daley bought 11,350 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were purchased at an average cost of $44.93 per share, for a total transaction of $509,955.50. Following the completion of the purchase, the insider now owns 5,700 shares in the company, valued at $256,101. The disclosure for this purchase can be found here. 1.71% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on the company. Morgan Stanley set a $41.00 target price on Bank of New York Mellon and gave the stock a “sell” rating in a research report on Friday, August 9th. Deutsche Bank cut their target price on Bank of New York Mellon from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Wednesday. Buckingham Research cut their target price on Bank of New York Mellon from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. UBS Group cut their target price on Bank of New York Mellon from $49.00 to $45.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. cut their price objective on Bank of New York Mellon from $50.00 to $49.00 and set an “underweight” rating for the company in a research report on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $49.73.

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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