HM Payson & Co. Has $934,000 Position in Bank Of New York Mellon Corporation (The) (NYSE:BK)

HM Payson & Co. lowered its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 4.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,768 shares of the bank’s stock after selling 900 shares during the period. HM Payson & Co.’s holdings in Bank Of New York Mellon Corporation (The) were worth $934,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Cullinan Associates Inc. bought a new stake in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $260,000. Atria Investments LLC raised its stake in shares of Bank Of New York Mellon Corporation (The) by 16.4% in the first quarter. Atria Investments LLC now owns 6,075 shares of the bank’s stock worth $287,000 after buying an additional 855 shares during the last quarter. Alpha Windward LLC raised its stake in shares of Bank Of New York Mellon Corporation (The) by 0.4% in the first quarter. Alpha Windward LLC now owns 5,648 shares of the bank’s stock worth $267,000 after buying an additional 24 shares during the last quarter. Regentatlantic Capital LLC raised its stake in shares of Bank Of New York Mellon Corporation (The) by 5.9% in the first quarter. Regentatlantic Capital LLC now owns 4,717 shares of the bank’s stock worth $223,000 after buying an additional 264 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in shares of Bank Of New York Mellon Corporation (The) by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,726 shares of the bank’s stock worth $167,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

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

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate 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 firm’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, equities analysts predict that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date was 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 28.40%.

Bank Of New York Mellon Corporation (The) announced that its board has initiated 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 reacquire up to 5.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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BK has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on shares of Bank Of New York Mellon Corporation (The) in a research note on Wednesday. They issued a “market perform” rating and a $55.00 price target on the stock. BidaskClub upgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Bank of America Corporation set a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research note on Friday, July 21st. Deutsche Bank AG lifted their price target 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 research note 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 research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. Bank Of New York Mellon Corporation (The) has an average rating of “Hold” and a consensus target price of $53.12.

In related news, Director Trian Fund Management, L.P. sold 10,000,000 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $53.09, for a total transaction of $530,900,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles W. Scharf acquired 186,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average price of $53.82 per share, with a total value of $10,058,958.00. Following the acquisition, the chief executive officer now directly owns 73,640 shares of the company’s stock, valued at approximately $3,963,304.80. The disclosure for this purchase can be found here. Insiders have sold 10,885,099 shares of company stock valued at $578,623,062 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

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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