Bank Of New York Mellon Corporation (The) (BK) Shares Bought by First Fiduciary Investment Counsel Inc.

First Fiduciary Investment Counsel Inc. grew its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 2.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 502,735 shares of the bank’s stock after acquiring an additional 12,500 shares during the period. Bank Of New York Mellon Corporation (The) comprises 4.9% of First Fiduciary Investment Counsel Inc.’s portfolio, making the stock its 2nd largest holding. First Fiduciary Investment Counsel Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $25,650,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of BK. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Bank Of New York Mellon Corporation (The) by 4.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock valued at $104,000 after purchasing an additional 92 shares during the period. First Interstate Bank lifted its stake in shares of Bank Of New York Mellon Corporation (The) by 56.2% in the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock valued at $119,000 after purchasing an additional 842 shares during the period. Exane Derivatives acquired a new stake in shares of Bank Of New York Mellon Corporation (The) in the second quarter valued at about $130,000. Hudock Capital Group LLC lifted its stake in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after purchasing an additional 7 shares during the period. Finally, Burt Wealth Advisors lifted its stake in shares of Bank Of New York Mellon Corporation (The) by 2,186.7% in the second quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock valued at $139,000 after purchasing an additional 2,624 shares during the period. 81.78% of the stock is currently owned by institutional investors and hedge funds.

In other Bank Of New York Mellon Corporation (The) news, Director Trian Fund Management, L.P. sold 10,000,000 shares of the company’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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the company’s 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 sale, the insider now directly owns 455,927 shares of the company’s stock, valued at $24,597,261.65. The disclosure for this sale can be found here. Insiders have sold 10,931,137 shares of company stock valued at $581,058,723 over the last ninety days. Insiders own 3.60% of the company’s stock.

Several analysts recently commented on BK shares. BidaskClub upgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, July 4th. Deutsche Bank AG raised their price objective 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. Zacks Investment Research upgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Monday, July 24th. 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. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.81.

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Shares of Bank Of New York Mellon Corporation (BK) traded up 0.29% during trading on Friday, reaching $54.90. 1,229,188 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $52.59 and its 200 day moving average price is $50.30. Bank Of New York Mellon Corporation has a 52 week low of $39.19 and a 52 week high of $55.29. The firm has a market capitalization of $56.72 billion, a PE ratio of 16.28 and a beta of 1.15.

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 Thomson Reuters’ 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 company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same quarter last year, the firm posted $0.76 EPS. The business’s revenue for the quarter was up .4% on a year-over-year basis. Analysts predict that Bank Of New York Mellon Corporation will post $3.52 EPS for the current fiscal year.

Bank Of New York Mellon Corporation (The) announced that its board has approved a share repurchase plan on Wednesday, June 28th that permits the company to buyback $3.10 billion in shares. This buyback authorization permits the bank to purchase up to 5.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Bank Of New York Mellon Corporation (The) Company 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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