Integrated Investment Consultants LLC held its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, Holdings Channel reports. The firm owned 4,412 shares of the bank’s stock at the end of the second quarter. Integrated Investment Consultants LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $225,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BK. Rothschild Investment Corp IL increased 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 valued at $276,000 after buying an additional 1,000 shares during the period. Huntington National Bank increased its position in shares of Bank Of New York Mellon Corporation (The) by 26.8% in the first quarter. Huntington National Bank now owns 23,045 shares of the bank’s stock valued at $1,088,000 after buying an additional 4,873 shares during the period. City Holding Co. increased its position in shares of Bank Of New York Mellon Corporation (The) by 6.4% in the first quarter. City Holding Co. now owns 30,277 shares of the bank’s stock valued at $1,430,000 after buying an additional 1,815 shares during the period. Oakbrook Investments LLC purchased a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter valued at approximately $4,017,000. Finally, Granite Investment Advisors LLC purchased a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter valued at approximately $6,375,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Bank Of New York Mellon Corporation (NYSE BK) traded up 0.46% during mid-day trading on Friday, reaching $52.19. 5,932,583 shares of the company’s stock traded hands. The firm has a 50 day moving average of $52.42 and a 200 day moving average of $48.49. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.59. The firm has a market cap of $53.92 billion, a PE ratio of 15.48 and a beta of 1.15.

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

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Stockholders of record on Tuesday, August 1st were given a $0.24 dividend. The ex-dividend date was Friday, July 28th. 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 1.84%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is presently 28.40%.

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Several brokerages recently commented on BK. BidaskClub upgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Jefferies Group LLC reiterated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, July 11th. Buckingham Research reiterated a “neutral” rating and issued a $57.00 target price (up previously from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. Bank of America Corporation set a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $53.12.

In related news, CEO Charles W. Scharf acquired 186,900 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were bought at an average cost of $53.82 per share, with a total value of $10,058,958.00. Following the completion of the transaction, the chief executive officer now directly owns 73,640 shares of the company’s stock, valued at $3,963,304.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $53.95, for a total transaction of $9,947,301.00. Following the completion of the transaction, the insider now directly owns 455,927 shares in the company, valued at $24,597,261.65. The disclosure for this sale can be found here. Insiders sold 10,885,099 shares of company stock worth $578,623,062 over the last three months. Insiders own 3.60% of the company’s stock.

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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