Country Club Trust Company n.a. lowered its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 165,986 shares of the bank’s stock after selling 4,676 shares during the period. Country Club Trust Company n.a.’s holdings in Bank Of New York Mellon Corporation (The) were worth $8,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Granite Investment Advisors LLC acquired a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth $6,375,000. Patten & Patten Inc. TN acquired a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth $473,000. Bank of The West acquired a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth $945,000. DnB Asset Management AS raised its position in shares of Bank Of New York Mellon Corporation (The) by 12.2% in the first quarter. DnB Asset Management AS now owns 115,567 shares of the bank’s stock worth $5,458,000 after buying an additional 12,600 shares in the last quarter. Finally, Benson Investment Management Company Inc. raised its position in shares of Bank Of New York Mellon Corporation (The) by 0.7% in the first quarter. Benson Investment Management Company Inc. now owns 42,795 shares of the bank’s stock worth $2,021,000 after buying an additional 300 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Shares of Bank Of New York Mellon Corporation (BK) traded up 0.52% during mid-day trading on Tuesday, reaching $53.99. The company had a trading volume of 369,649 shares. The company’s 50-day moving average is $51.59 and its 200 day moving average is $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 $55.78 billion, a P/E ratio of 16.01 and a beta of 1.15.

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

Bank Of New York Mellon Corporation (The) announced that its board has initiated a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $3.10 billion in shares. This repurchase authorization allows the bank to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Tuesday, August 1st will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Friday, July 28th. This is a positive change from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. Bank Of New York Mellon Corporation (The)’s payout ratio is presently 28.40%.

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A number of research analysts have weighed in on the company. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Sunday. Deutsche Bank AG upped their price objective on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Bank of America Corporation set a $52.00 price objective on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Friday, July 21st. Royal Bank Of Canada restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, July 21st. Finally, Zacks Investment Research upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” 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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