Heartland Advisors Inc. Has $8.13 Million Position in Bank Of New York Mellon Corporation (The) (BK)

Heartland Advisors Inc. cut its stake in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 30.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,240 shares of the bank’s stock after selling 65,564 shares during the period. Heartland Advisors Inc.’s holdings in Bank Of New York Mellon Corporation (The) were worth $8,125,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Atlantic Trust Group LLC boosted its holdings in shares of Bank Of New York Mellon Corporation (The) by 12.7% during the 1st quarter. Atlantic Trust Group LLC now owns 28,631 shares of the bank’s stock worth $1,353,000 after buying an additional 3,224 shares in the last quarter. Spinnaker Trust bought a new position in shares of Bank Of New York Mellon Corporation (The) during the 1st quarter worth approximately $283,000. Blair William & Co. IL boosted its holdings in shares of Bank Of New York Mellon Corporation (The) by 1.4% during the 1st quarter. Blair William & Co. IL now owns 50,904 shares of the bank’s stock worth $2,403,000 after buying an additional 716 shares in the last quarter. American International Group Inc. boosted its holdings in shares of Bank Of New York Mellon Corporation (The) by 29.2% during the 1st quarter. American International Group Inc. now owns 453,658 shares of the bank’s stock worth $21,426,000 after buying an additional 102,491 shares in the last quarter. Finally, Lincoln Capital Corp boosted its holdings in shares of Bank Of New York Mellon Corporation (The) by 0.7% during the 1st quarter. Lincoln Capital Corp now owns 75,331 shares of the bank’s stock worth $3,558,000 after buying an additional 528 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

A number of equities analysts have issued reports on the company. Zacks Investment Research cut Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Citigroup Inc. restated a “neutral” rating and set a $56.00 price target (up from $53.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, October 9th. Credit Suisse Group restated a “hold” rating and set a $55.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, October 10th. Wells Fargo & Company assumed coverage on Bank Of New York Mellon Corporation (The) in a report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price target on the stock. Finally, BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $55.28.

Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.19% during midday trading on Tuesday, reaching $51.75. The company had a trading volume of 455,661 shares. The company has a 50-day moving average of $52.99 and a 200-day moving average of $50.88. The stock has a market capitalization of $53.47 billion, a PE ratio of 15.35 and a beta of 1.15. Bank Of New York Mellon Corporation has a 12-month low of $42.73 and a 12-month high of $55.29.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, analysts predict that Bank Of New York Mellon Corporation will post $3.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Tuesday, October 31st will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Monday, October 30th. Bank Of New York Mellon Corporation (The)’s payout ratio is 28.07%.

In related news, CEO Charles W. Scharf acquired 186,900 shares of the stock in a transaction on Tuesday, August 8th. The stock was acquired at an average price of $53.82 per share, for a total transaction of $10,058,958.00. Following the completion of the purchase, the chief executive officer now owns 73,640 shares of the company’s stock, valued at $3,963,304.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Trian Fund Management, L.P. sold 5,798,725 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $52.42, for a total value of $303,969,164.50. The disclosure for this sale can be found here. Insiders have sold 17,761,019 shares of company stock valued at $939,813,259 in the last quarter. 3.60% of the stock is owned by company insiders.

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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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