Bank Of New York Mellon Corp. (NYSE:BK)’s share price traded down 3% during mid-day trading on Thursday . The company traded as low as $38.60 and last traded at $38.80, with a volume of 4,300,013 shares traded. The stock had previously closed at $40.01.

A number of equities analysts have issued reports on the company. Zacks Investment Research cut Bank Of New York Mellon Corp. from a “buy” rating to a “hold” rating in a report on Thursday, June 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $42.50 target price on shares of Bank Of New York Mellon Corp. in a research report on Thursday, June 9th. Deutsche Bank AG upped their target price on Bank Of New York Mellon Corp. from $49.00 to $50.00 and gave the stock a “buy” rating in a research report on Friday, May 27th. Royal Bank Of Canada upped their target price on Bank Of New York Mellon Corp. from $40.00 to $44.00 and gave the stock a “sector perform” rating in a research report on Friday, April 22nd. Finally, Argus lowered Bank Of New York Mellon Corp. from a “buy” rating to a “hold” rating in a research report on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $45.76.

The firm has a 50-day moving average of $39.60 and a 200-day moving average of $38.14. The stock has a market capitalization of $42.21 billion and a P/E ratio of 14.15.

Bank Of New York Mellon Corp. (NYSE:BK) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.01. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The firm had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.79 billion. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts forecast that Bank Of New York Mellon Corp. will post $3.04 earnings per share for the current fiscal year.

In related news, Director Trian Fund Management, L.P. bought 20,700 shares of the company’s stock in a transaction on Monday, May 16th. The shares were acquired at an average cost of $39.65 per share, with a total value of $820,755.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mitchell E. Harris sold 19,295 shares of the business’s stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $40.66, for a total value of $784,534.70. Following the completion of the sale, the executive vice president now directly owns 194,690 shares in the company, valued at $7,916,095.40. The disclosure for this sale can be found here.

Other large investors recently added to or reduced their stakes in the company. I.G. Investment Management LTD. increased its stake in Bank Of New York Mellon Corp. by 348.5% in the fourth quarter. I.G. Investment Management LTD. now owns 34,707 shares of the company’s stock valued at $1,431,000 after buying an additional 26,968 shares during the period. LS Investment Advisors LLC increased its stake in Bank Of New York Mellon Corp. by 0.9% in the fourth quarter. LS Investment Advisors LLC now owns 37,107 shares of the company’s stock valued at $1,530,000 after buying an additional 326 shares during the period. Twin Capital Management Inc. increased its stake in Bank Of New York Mellon Corp. by 0.5% in the fourth quarter. Twin Capital Management Inc. now owns 49,790 shares of the company’s stock valued at $2,052,000 after buying an additional 270 shares during the period. Creative Planning increased its stake in Bank Of New York Mellon Corp. by 18.7% in the fourth quarter. Creative Planning now owns 53,366 shares of the company’s stock valued at $2,200,000 after buying an additional 8,404 shares during the period. Finally, BOKF NA increased its stake in Bank Of New York Mellon Corp. by 24.8% in the fourth quarter. BOKF NA now owns 60,669 shares of the company’s stock valued at $2,501,000 after buying an additional 12,052 shares during the period.

The Bank of New York Mellon Corporation (BNY Mellon) 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 credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

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