Cacti Asset Management LLC raised its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 699,115 shares of the bank’s stock after buying an additional 400 shares during the period. Bank Of New York Mellon Corporation (The) comprises 3.2% of Cacti Asset Management LLC’s portfolio, making the stock its 16th largest position. Cacti Asset Management LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $35,662,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of BK. Bronfman E.L. Rothschild L.P. raised its position in Bank Of New York Mellon Corporation (The) by 4.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock worth $104,000 after buying an additional 92 shares in the last quarter. Advisory Services Network LLC acquired a new position in Bank Of New York Mellon Corporation (The) during the first quarter worth about $111,000. Hudock Capital Group LLC raised its position in Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Hudock Capital Group LLC now owns 2,549 shares of the bank’s stock worth $120,000 after buying an additional 7 shares in the last quarter. QCI Asset Management Inc. NY acquired a new position in Bank Of New York Mellon Corporation (The) during the first quarter worth about $125,000. Finally, Quadrant Capital Group LLC raised its position in Bank Of New York Mellon Corporation (The) by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,726 shares of the bank’s stock worth $167,000 after buying an additional 94 shares in the last quarter. 82.51% of the stock is owned by institutional investors.

Bank Of New York Mellon Corporation (NYSE BK) traded up 0.37% during midday trading on Friday, reaching $54.02. 3,150,929 shares of the company were exchanged. The company has a market capitalization of $55.81 billion, a price-to-earnings ratio of 16.02 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 company has a 50 day moving average of $51.59 and a 200-day moving average of $48.08.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The business had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the prior year, the business earned $0.76 earnings per share. The company’s quarterly revenue was up .4% compared to the same quarter last year. On average, equities research analysts anticipate that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st will be given a $0.24 dividend. This is a boost from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, July 28th. This represents a $0.96 annualized dividend and a yield of 1.78%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is presently 28.40%.

Bank Of New York Mellon Corporation (The) declared that its board has initiated a stock buyback program on Wednesday, June 28th that allows the company to repurchase $3.10 billion in shares. This repurchase authorization allows the bank to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

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A number of equities analysts have issued reports on BK shares. Rafferty Capital Markets reissued a “buy” rating and set a $53.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, April 25th. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. Deutsche Bank AG raised their price target on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Zacks Investment Research raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Monday, July 24th. Finally, Jefferies Group LLC reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $53.00.

About Bank Of New York Mellon Corporation (The)

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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