Mutual of America Capital Management LLC raised its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,764 shares of the bank’s stock after buying an additional 3,076 shares during the period. Mutual of America Capital Management LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $6,467,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Bank Of New York Mellon Corporation (The) in the 2nd quarter worth $1,139,000. Bronfman E.L. Rothschild L.P. increased its holdings in shares of Bank Of New York Mellon Corporation (The) by 4.4% in the 1st 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 during the last quarter. First Interstate Bank increased its holdings in shares of Bank Of New York Mellon Corporation (The) by 56.2% in the 2nd quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after buying an additional 842 shares during the last quarter. Exane Derivatives bought a new position in shares of Bank Of New York Mellon Corporation (The) in the 2nd quarter worth $130,000. Finally, Hudock Capital Group LLC increased its holdings in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after buying an additional 7 shares during the last quarter. 81.78% of the stock is currently owned by hedge funds and other institutional investors.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the business’s stock in a transaction on 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 transaction, the insider now owns 455,927 shares in the company, valued at $24,597,261.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the transaction, the insider now owns 204,043 shares in the company, valued at approximately $10,793,874.70. The disclosure for this sale can be found here. Insiders have sold 10,931,137 shares of company stock worth $581,058,723 in the last quarter. Company insiders own 3.60% of the company’s stock.

A number of equities analysts have recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Bank Of New York Mellon Corporation (The) in a report on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 price target on the stock. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. 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 target price on the stock in a report on Monday, July 24th. Bank of America Corporation set a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a report on Friday, July 21st. Finally, Deutsche Bank AG increased their target price on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” rating in a report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, five have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $53.82.

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Shares of Bank Of New York Mellon Corporation (NYSE:BK) opened at 52.37 on Friday. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The company has a market cap of $54.11 billion, a price-to-earnings ratio of 15.53 and a beta of 1.14. The firm has a 50-day moving average of $52.37 and a 200-day moving average of $49.62.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating the Zacks’ 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 for the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the previous year, the business posted $0.76 earnings per share. The business’s revenue was up .4% compared to the same quarter last year. Equities research analysts forecast that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

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

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.

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

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