Bank Of New York Mellon Corporation (The) (BK) Stake Held by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. continued to hold its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) during the second quarter, according to the company in its most recent filing with the SEC. The firm owned 4,768 shares of the bank’s stock at the close of the second quarter. McKinley Carter Wealth Services Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of BK. Bronfman E.L. Rothschild L.P. boosted its position in Bank Of New York Mellon Corporation (The) by 4.4% during the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock worth $104,000 after purchasing an additional 92 shares during the period. First Interstate Bank boosted its position 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 acquiring an additional 842 shares during the period. Advisory Services Network LLC bought a new stake in shares of Bank Of New York Mellon Corporation (The) in the first quarter valued at about $111,000. Exane Derivatives bought a new stake in shares of Bank Of New York Mellon Corporation (The) in the second quarter valued at about $130,000. Finally, Hudock Capital Group LLC boosted its position 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 acquiring an additional 7 shares during the period. Institutional investors and hedge funds own 81.80% of the company’s stock.

A number of research analysts recently commented on BK shares. UBS AG downgraded 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 research note on Friday, September 8th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $58.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Thursday, August 31st. Wells Fargo & Company started coverage on Bank Of New York Mellon Corporation (The) in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 price target for the company. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Finally, Zacks Investment Research raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $53.59.

Bank Of New York Mellon Corporation (BK) opened at 51.14 on Friday. The company has a market capitalization of $52.84 billion, a PE ratio of 15.17 and a beta of 1.14. Bank Of New York Mellon Corporation has a one year low of $38.68 and a one year high of $54.59. The company has a 50 day moving average price of $52.46 and a 200-day moving average price of $49.50.

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 (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $3.91 billion. During the same period last year, the company earned $0.76 EPS. The company’s revenue for the quarter 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 fiscal year.

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

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In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Brian T. Shea sold 44,250 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 204,043 shares in the company, valued at approximately $10,793,874.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Gerald L. Hassell sold 1,788 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total value of $94,835.52. Following the transaction, the chairman now owns 872,606 shares in the company, valued at $46,283,022.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,931,137 shares of company stock worth $581,058,723. Company insiders own 3.60% of the company’s stock.

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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