Bank Of New York Mellon Corporation (The) (BK) Shares Sold by Sippican Capital Advisors

Sippican Capital Advisors cut its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 11.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,450 shares of the bank’s stock after selling 575 shares during the period. Sippican Capital Advisors’ holdings in Bank Of New York Mellon Corporation (The) were worth $227,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BK. Bronfman E.L. Rothschild L.P. raised its position in 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 period. Advisory Services Network LLC bought a new position in Bank Of New York Mellon Corporation (The) during the first quarter valued at about $111,000. Hudock Capital Group LLC raised its position in Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Hudock Capital Group LLC now owns 2,549 shares of the bank’s stock valued at $120,000 after buying an additional 7 shares during the period. QCI Asset Management Inc. NY acquired a new stake in shares of Bank Of New York Mellon Corporation (The) during the first quarter valued at $125,000. Finally, Exane Derivatives acquired a new stake in shares of Bank Of New York Mellon Corporation (The) during the second quarter valued at $130,000. Institutional investors own 82.44% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (BK) opened at 52.19 on Friday. The company’s 50 day moving average price is $52.42 and its 200 day moving average price is $48.49. Bank Of New York Mellon Corporation has a 12 month low of $38.68 and a 12 month high of $54.59. The stock has a market capitalization of $53.92 billion, a PE ratio of 15.48 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 earnings per share 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 firm 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 business posted $0.76 EPS. Bank Of New York Mellon Corporation (The)’s quarterly revenue was up .4% on a year-over-year basis. Equities analysts anticipate that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were paid a $0.24 dividend. This is an increase from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a yield of 1.84%. The ex-dividend date was Friday, July 28th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 28.40%.

Bank Of New York Mellon Corporation (The) announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that allows the company to repurchase $3.10 billion in shares. This repurchase authorization allows the bank to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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A number of research firms recently commented on BK. Credit Suisse Group reaffirmed a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, April 21st. Deutsche Bank AG lifted their target price on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a report on Friday, July 21st. Bank of America Corporation set a $49.00 target price on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Saturday, May 27th. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Rafferty Capital Markets reaffirmed a “buy” rating and set a $53.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, April 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $53.12.

In other Bank Of New York Mellon Corporation (The) news, Vice Chairman Thomas P. Gibbons sold 184,380 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $53.95, for a total transaction of $9,947,301.00. Following the completion of the transaction, the insider now owns 455,927 shares of the company’s stock, valued at $24,597,261.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles W. Scharf purchased 186,900 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were bought at an average cost of $53.82 per share, with a total value of $10,058,958.00. Following the transaction, 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 sold a total of 10,885,099 shares of company stock valued at $578,623,062 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

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.

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

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