Dreman Value Management L L C Has $2,211,000 Holdings in Bank Of New York Mellon Corporation (The) (BK)

Dreman Value Management L L C maintained its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,812 shares of the bank’s stock at the close of the second quarter. Bank Of New York Mellon Corporation (The) comprises 1.3% of Dreman Value Management L L C’s portfolio, making the stock its 12th largest position. Dreman Value Management L L C’s holdings in Bank Of New York Mellon Corporation (The) were worth $2,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its holdings 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 buying an additional 92 shares during the last quarter. First Interstate Bank raised its holdings 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 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 second quarter valued at about $130,000. Hudock Capital Group LLC raised its holdings 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 buying an additional 7 shares during the last quarter. Finally, Burt Wealth Advisors raised its holdings 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 buying an additional 2,624 shares during the last quarter. 81.78% of the stock is owned by institutional investors.

A number of research analysts recently issued reports on BK shares. UBS AG cut Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price target for the company. in a report on Friday, September 8th. Zacks Investment Research raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, July 24th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, July 11th. Bank of America Corporation set a $52.00 price target on Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a report on Friday, July 21st. Finally, Royal Bank Of Canada reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $54.81.

In other 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 stock was sold at an average price of $53.09, for a total transaction of $530,900,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles W. Scharf acquired 186,900 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 73,640 shares of the company’s stock, valued at $3,963,304.80. The disclosure for this purchase can be found here. Insiders have sold 10,931,137 shares of company stock valued at $581,058,723 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

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Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same period last year, the company earned $0.76 earnings per share. The firm’s revenue was up .4% compared to the same quarter last year.

Bank Of New York Mellon Corporation (The) declared that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that authorizes the company to buyback $3.10 billion in shares. This buyback authorization authorizes the bank to purchase up to 5.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are 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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