Vantage Investment Advisors LLC Increases Holdings in Bank Of New York Mellon Corporation (The) (BK)

Vantage Investment Advisors LLC boosted its holdings in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 22.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 48,046 shares of the bank’s stock after acquiring an additional 8,797 shares during the quarter. Vantage Investment Advisors LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,451,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Northstar Wealth Partners LLC acquired a new stake in Bank Of New York Mellon Corporation (The) during the 1st quarter worth about $546,000. MUFG Americas Holdings Corp boosted its position in Bank Of New York Mellon Corporation (The) by 5.3% during the 2nd quarter. MUFG Americas Holdings Corp now owns 263,993 shares of the bank’s stock worth $13,469,000 after acquiring an additional 13,228 shares during the period. Dupont Capital Management Corp acquired a new stake in Bank Of New York Mellon Corporation (The) during the 2nd quarter worth about $304,000. Community Bank & Trust Waco Texas boosted its position in Bank Of New York Mellon Corporation (The) by 5.3% during the 1st quarter. Community Bank & Trust Waco Texas now owns 17,182 shares of the bank’s stock worth $812,000 after acquiring an additional 863 shares during the period. Finally, Everence Capital Management Inc. boosted its position in Bank Of New York Mellon Corporation (The) by 35.1% during the 2nd quarter. Everence Capital Management Inc. now owns 29,004 shares of the bank’s stock worth $1,480,000 after acquiring an additional 7,530 shares during the period. Hedge funds and other institutional investors own 81.80% of the company’s stock.

A number of equities research analysts have commented on the company. Jefferies Group LLC restated a “hold” rating and set a $56.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday. Wells Fargo & Company assumed coverage on Bank Of New York Mellon Corporation (The) in a research report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price objective for the company. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Tuesday, June 20th. UBS AG lowered Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research report on Friday, September 8th. Finally, Bank of America Corporation set a $49.00 price objective on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a research report on Saturday, May 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $53.82.

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In related news, Vice Chairman Brian T. Shea sold 44,250 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the sale, the insider now owns 204,043 shares in the company, valued at $10,793,874.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gerald L. Hassell sold 700,719 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $53.91, for a total value of $37,775,761.29. Following the sale, the chairman now owns 1,253,522 shares in the company, valued at approximately $67,577,371.02. 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. 3.60% of the stock is currently owned by corporate insiders.

Bank Of New York Mellon Corporation (NYSE BK) opened at 51.56 on Friday. Bank Of New York Mellon Corporation has a 52 week low of $38.68 and a 52 week high of $54.59. The company has a market capitalization of $53.27 billion, a P/E ratio of 15.29 and a beta of 1.14. The company has a 50 day moving average price of $52.43 and a 200-day moving average price of $49.53.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The business had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. Bank Of New York Mellon Corporation (The)’s revenue was up .4% on a year-over-year basis. On average, equities 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 initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $3.10 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 5.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Bank Of New York Mellon Corporation (The) 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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