Huntington National Bank raised its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 4.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,040 shares of the bank’s stock after buying an additional 995 shares during the period. Huntington National Bank’s holdings in Bank Of New York Mellon Corporation (The) were worth $1,226,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northstar Wealth Partners LLC acquired a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth about $546,000. Community Bank & Trust Waco Texas raised its position 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 worth $812,000 after buying an additional 863 shares during the period. BTIM Corp. acquired a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth about $219,000. BB&T Securities LLC raised its position 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 worth $6,377,000 after buying an additional 88,265 shares during the period. Finally, Rothschild Investment Corp IL raised its position in shares of Bank Of New York Mellon Corporation (The) by 20.6% in the first quarter. Rothschild Investment Corp IL now owns 5,853 shares of the bank’s stock worth $276,000 after buying an additional 1,000 shares during the period. Institutional investors own 82.51% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.37% during midday trading on Friday, hitting $54.02. The stock had a trading volume of 3,150,929 shares. The stock has a 50 day moving average price of $51.59 and a 200-day moving average price of $48.08. Bank Of New York Mellon Corporation has a 52 week low of $38.68 and a 52 week high of $54.59. The stock 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 (The) (NYSE:BK) last announced its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the company earned $0.76 EPS. The business’s quarterly revenue was up .4% compared to the same quarter last year. Equities research analysts anticipate that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current year.

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

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

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A number of research analysts have issued reports on BK shares. Credit Suisse Group reiterated a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, April 21st. Deutsche Bank AG boosted their price target on 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. Bank of America Corporation set a $49.00 price target on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a research report on Saturday, May 27th. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Finally, Rafferty Capital Markets reiterated 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Bank Of New York Mellon Corporation (The) currently has an average rating of “Buy” and a consensus price target of $53.00.

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.

Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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