Hudock Capital Group LLC Increases Stake in Bank Of New York Mellon Corporation (The) (BK)

Hudock Capital Group LLC grew its holdings in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,556 shares of the bank’s stock after purchasing an additional 7 shares during the period. Hudock Capital Group LLC’s holdings in Bank Of New York Mellon Corporation (The) were worth $130,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 3.0% during the first quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock worth $3,133,681,000 after purchasing an additional 1,905,810 shares during the period. BlackRock Inc. raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 2,064.6% during the first quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock worth $2,727,121,000 after purchasing an additional 55,073,730 shares during the period. Longview Partners Guernsey LTD increased its holdings in shares of Bank Of New York Mellon Corporation (The) by 4.6% in the 2nd quarter. Longview Partners Guernsey LTD now owns 16,519,184 shares of the bank’s stock worth $842,809,000 after acquiring an additional 726,898 shares during the period. Geode Capital Management LLC increased its holdings in shares of Bank Of New York Mellon Corporation (The) by 11.6% in the 1st quarter. Geode Capital Management LLC now owns 10,413,009 shares of the bank’s stock worth $491,122,000 after acquiring an additional 1,085,595 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Bank Of New York Mellon Corporation (The) by 8.6% in the 1st quarter. JPMorgan Chase & Co. now owns 9,807,053 shares of the bank’s stock worth $463,187,000 after acquiring an additional 780,125 shares during the period. 81.80% of the stock is currently owned by institutional investors.

Shares of Bank Of New York Mellon Corporation (NYSE BK) traded up 0.45% during midday trading on Friday, hitting $51.36. 1,380,351 shares of the stock traded hands. The firm’s 50 day moving average price is $52.46 and its 200 day moving average price is $49.50. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.59. The company has a market capitalization of $53.06 billion, a PE ratio of 15.23 and a beta of 1.14.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.91 billion. During the same period in the previous year, the company posted $0.76 earnings per share. The business’s revenue was up .4% on a year-over-year basis. Analysts expect that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.

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

A number of analysts recently weighed in on BK shares. BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Tuesday, July 4th. Deutsche Bank AG raised their target price 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 raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Monday, July 24th. Royal Bank Of Canada reissued 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 reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $53.59.

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 stock was sold at an average price of $53.09, for a total value of $530,900,000.00. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $53.95, for a total value of $9,947,301.00. Following the completion of the transaction, the insider now owns 455,927 shares in the company, valued at $24,597,261.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,931,137 shares of company stock worth $581,058,723. 3.60% of the stock is currently owned by corporate insiders.

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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.

Institutional Ownership by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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