Bank Of New York Mellon Corporation (The) (NYSE:BK)‘s stock had its “hold” rating reissued by equities research analysts at Jefferies Group LLC in a note issued to investors on Friday. Jefferies Group also issued estimates for Bank Of New York Mellon Corporation (The)’s Q4 2017 earnings at $0.90 EPS, FY2017 earnings at $3.53 EPS, Q2 2018 earnings at $0.93 EPS, FY2018 earnings at $3.75 EPS and FY2019 earnings at $4.05 EPS.

Several other research analysts also recently weighed in on BK. Zacks Investment Research downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Wells Fargo & Company assumed 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 target price on the stock. Goldman Sachs Group Inc reiterated a “buy” rating and issued a $58.00 target price (up from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday. BidaskClub downgraded Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $55.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Bank Of New York Mellon Corporation (The) presently has a consensus rating of “Hold” and an average target price of $55.28.

Shares of Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.51% during midday trading on Friday, hitting $53.12. The stock had a trading volume of 6,977,814 shares. The firm has a 50 day moving average price of $52.85 and a 200 day moving average price of $50.60. The stock has a market cap of $54.88 billion, a PE ratio of 15.75 and a beta of 1.15. Bank Of New York Mellon Corporation has a one year low of $42.73 and a one year high of $55.29.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.01. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same period last year, the business posted $0.90 EPS. The company’s revenue was up 1.9% on a year-over-year basis. On average, equities analysts forecast that Bank Of New York Mellon Corporation will post $3.54 earnings per share for the current fiscal year.

Bank Of New York Mellon Corporation (The) declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that permits the company to buyback $3.10 billion in shares. This buyback authorization permits the bank to purchase up to 5.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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In other news, CEO Charles W. Scharf acquired 186,900 shares of Bank Of New York Mellon Corporation (The) stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average cost of $53.82 per share, with a total value of $10,058,958.00. Following the completion of the acquisition, the chief executive officer now owns 73,640 shares in the company, valued at approximately $3,963,304.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Gerald L. Hassell sold 700,719 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Monday, August 7th. The stock was sold at an average price of $53.91, for a total value of $37,775,761.29. Following the transaction, the chairman now directly owns 1,253,522 shares of the company’s stock, valued at $67,577,371.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,931,137 shares of company stock valued at $581,058,723. 3.60% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the stock. Hudock Capital Group LLC raised its holdings in Bank Of New York Mellon Corporation (The) by 0.3% during the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after purchasing an additional 7 shares during the last quarter. Kistler Tiffany Companies LLC raised its holdings in Bank Of New York Mellon Corporation (The) by 0.3% during the second quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock worth $212,000 after purchasing an additional 12 shares during the last quarter. CHICAGO TRUST Co NA raised its holdings in Bank Of New York Mellon Corporation (The) by 0.5% during the second quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock worth $307,000 after purchasing an additional 29 shares during the last quarter. Cpcm LLC raised its holdings in Bank Of New York Mellon Corporation (The) by 0.4% during the first quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock worth $458,000 after purchasing an additional 35 shares during the last quarter. Finally, First Bank & Trust raised its holdings in Bank Of New York Mellon Corporation (The) by 1.1% during the second quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock worth $245,000 after purchasing an additional 52 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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