Pennsylvania Trust Co boosted its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 69.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,460 shares of the bank’s stock after buying an additional 4,300 shares during the period. Pennsylvania Trust Co’s holdings in Bank Of New York Mellon Corporation (The) were worth $534,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Bank Of New York Mellon Corporation (The) by 3.0% in the first quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock valued at $3,133,681,000 after buying an additional 1,905,810 shares in the last quarter. BlackRock Inc. raised its position in shares of Bank Of New York Mellon Corporation (The) by 2,064.6% in the first quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock valued at $2,727,121,000 after buying an additional 55,073,730 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 11.6% in the first quarter. Geode Capital Management LLC now owns 10,413,009 shares of the bank’s stock valued at $491,122,000 after buying an additional 1,085,595 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Bank Of New York Mellon Corporation (The) by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 9,807,053 shares of the bank’s stock valued at $463,187,000 after buying an additional 780,125 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 0.5% in the first quarter. Clearbridge Investments LLC now owns 9,518,101 shares of the bank’s stock valued at $449,540,000 after buying an additional 51,390 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE:BK) traded down 3.1042% during trading on Thursday, reaching $52.3625. The company’s stock had a trading volume of 3,077,706 shares. The stock has a 50 day moving average price of $52.28 and a 200 day moving average price of $48.41. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.59. The stock has a market capitalization of $54.10 billion, a PE ratio of 15.5286 and a beta of 1.15.

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

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

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

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Several equities analysts have recently commented on BK shares. Rafferty Capital Markets restated a “buy” rating and set a $53.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 25th. Bank of America Corporation restated an “underperform” rating and set a $49.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, May 26th. BidaskClub lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Deutsche Bank AG raised their price target on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $53.12.

In related news, Chairman Gerald L. Hassell sold 700,719 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $53.91, for a total transaction of $37,775,761.29. Following the transaction, the chairman now owns 1,253,522 shares in the company, valued at approximately $67,577,371.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles W. Scharf purchased 186,900 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average price of $53.82 per share, for a total transaction of $10,058,958.00. Following the purchase, the chief executive officer now directly owns 73,640 shares in the company, valued at $3,963,304.80. The disclosure for this purchase can be found here. Company insiders own 3.60% of the company’s stock.

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.

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

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