Investors bought shares of Bank of New York Mellon Corp (NYSE:BK) on weakness during trading hours on Friday. $45.08 million flowed into the stock on the tick-up and $19.85 million flowed out of the stock on the tick-down, for a money net flow of $25.23 million into the stock. Of all stocks tracked, Bank of New York Mellon had the 24th highest net in-flow for the day. Bank of New York Mellon traded down ($0.01) for the day and closed at $52.18

Several equities analysts recently issued reports on BK shares. Vining Sparks reiterated a “buy” rating and issued a $62.00 target price on shares of Bank of New York Mellon in a research note on Monday, July 23rd. Zacks Investment Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research note on Wednesday, May 16th. Keefe, Bruyette & Woods set a $56.00 target price on shares of Bank of New York Mellon and gave the company a “hold” rating in a research note on Thursday, July 19th. Sandler O’Neill reiterated a “hold” rating on shares of Bank of New York Mellon in a research note on Friday, July 13th. Finally, Raymond James cut shares of Bank of New York Mellon from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 12th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. Bank of New York Mellon has an average rating of “Hold” and a consensus price target of $58.70.

The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a market cap of $52.25 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.63 and a beta of 1.04.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Thursday, July 19th. The bank reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. The company had revenue of $4.14 billion during the quarter, compared to the consensus estimate of $4.13 billion. Bank of New York Mellon had a return on equity of 11.40% and a net margin of 25.08%. Bank of New York Mellon’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. analysts expect that Bank of New York Mellon Corp will post 4.18 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 10th. Shareholders of record on Tuesday, July 31st were issued a $0.28 dividend. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, July 30th. This represents a $1.12 annualized dividend and a yield of 2.15%. Bank of New York Mellon’s payout ratio is 31.11%.

Bank of New York Mellon announced that its board has approved a stock repurchase plan on Thursday, June 28th that allows the company to repurchase $2.40 billion in shares. This repurchase authorization allows the bank to reacquire up to 4.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Several large investors have recently modified their holdings of the company. Patten Group Inc. raised its position in shares of Bank of New York Mellon by 44.4% during the 1st quarter. Patten Group Inc. now owns 2,929 shares of the bank’s stock valued at $124,000 after acquiring an additional 900 shares in the last quarter. Townsend & Associates Inc lifted its holdings in shares of Bank of New York Mellon by 7.3% in the second quarter. Townsend & Associates Inc now owns 13,452 shares of the bank’s stock valued at $725,000 after buying an additional 916 shares during the period. Canandaigua National Bank & Trust Co. lifted its holdings in shares of Bank of New York Mellon by 14.1% in the first quarter. Canandaigua National Bank & Trust Co. now owns 7,710 shares of the bank’s stock valued at $397,000 after buying an additional 950 shares during the period. Segall Bryant & Hamill LLC lifted its holdings in shares of Bank of New York Mellon by 0.8% in the second quarter. Segall Bryant & Hamill LLC now owns 114,420 shares of the bank’s stock valued at $6,171,000 after buying an additional 954 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Bank of New York Mellon by 6.9% during the second quarter. Steward Partners Investment Advisory LLC now owns 14,762 shares of the bank’s stock valued at $796,000 after purchasing an additional 959 shares during the last quarter. Institutional investors and hedge funds own 83.41% of the company’s stock.

About Bank of New York Mellon (NYSE:BK)

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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