Grimes & Company Inc. decreased its stake in Bank Of New York Mellon Corp. (NYSE:BK) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,953 shares of the company’s stock after selling 47 shares during the period. Grimes & Company Inc.’s holdings in Bank Of New York Mellon Corp. were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Bank Of New York Mellon Corp. during the fourth quarter valued at $144,010,000. Acadian Asset Management LLC raised its position in shares of Bank Of New York Mellon Corp. by 4.0% in the first quarter. Acadian Asset Management LLC now owns 24,263 shares of the company’s stock valued at $894,000 after buying an additional 940 shares during the period. Gibraltar Capital Management Inc. raised its position in shares of Bank Of New York Mellon Corp. by 14.3% in the first quarter. Gibraltar Capital Management Inc. now owns 104,227 shares of the company’s stock valued at $3,839,000 after buying an additional 13,064 shares during the period. Montrusco Bolton Investments Inc. raised its position in shares of Bank Of New York Mellon Corp. by 6.5% in the first quarter. Montrusco Bolton Investments Inc. now owns 372,665 shares of the company’s stock valued at $13,713,000 after buying an additional 22,830 shares during the period. Finally, Benin Management CORP raised its position in shares of Bank Of New York Mellon Corp. by 4.5% in the first quarter. Benin Management CORP now owns 42,235 shares of the company’s stock valued at $1,556,000 after buying an additional 1,810 shares during the period. 82.82% of the stock is owned by institutional investors.

Shares of Bank Of New York Mellon Corp. (NYSE:BK) traded down 0.42% during mid-day trading on Thursday, reaching $40.35. 4,540,741 shares of the company traded hands. Bank Of New York Mellon Corp. has a 52-week low of $32.20 and a 52-week high of $44.73. The firm’s 50 day moving average price is $40.59 and its 200-day moving average price is $39.56. The company has a market capitalization of $43.08 billion, a P/E ratio of 14.47 and a beta of 1.37.

Bank Of New York Mellon Corp. (NYSE:BK) last announced its earnings results on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.01. Bank Of New York Mellon Corp. had a net margin of 20.86% and a return on equity of 9.31%. The firm earned $3.78 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same quarter in the previous year, the company posted $0.73 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities analysts predict that Bank Of New York Mellon Corp. will post $3.03 earnings per share for the current fiscal year.

Several research analysts have weighed in on BK shares. Deutsche Bank AG increased their target price on shares of Bank Of New York Mellon Corp. from $49.00 to $50.00 and gave the stock a “buy” rating in a research note on Friday, May 27th. Zacks Investment Research cut shares of Bank Of New York Mellon Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, June 2nd. JPMorgan Chase & Co. reissued a “buy” rating and set a $42.50 price target on shares of Bank Of New York Mellon Corp. in a research report on Thursday, June 9th. Buckingham Research reissued a “buy” rating on shares of Bank Of New York Mellon Corp. in a research report on Tuesday, June 21st. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of Bank Of New York Mellon Corp. in a research report on Tuesday, June 28th. Six investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Bank Of New York Mellon Corp. has a consensus rating of “Buy” and a consensus price target of $44.88.

In other news, Director Trian Fund Management, L.P. bought 152,000 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was purchased at an average price of $38.87 per share, with a total value of $5,908,240.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.40% of the stock is currently owned by corporate insiders.

About Bank Of New York Mellon Corp.

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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