Lincoln Capital Corp Purchases 528 Shares of Bank Of New York Mellon Corporation (The) (NYSE:BK)

Lincoln Capital Corp raised its stake in shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,331 shares of the bank’s stock after buying an additional 528 shares during the period. Bank Of New York Mellon Corporation (The) accounts for about 3.2% of Lincoln Capital Corp’s portfolio, making the stock its 9th largest position. Lincoln Capital Corp’s holdings in Bank Of New York Mellon Corporation (The) were worth $3,558,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BK. Dodge & Cox purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter valued at about $2,352,702,000. Norges Bank purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter valued at about $178,809,000. American Century Companies Inc. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 135.6% in the first quarter. American Century Companies Inc. now owns 3,776,619 shares of the bank’s stock valued at $178,370,000 after buying an additional 2,173,699 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 9,807,053 shares of the bank’s stock valued at $463,187,000 after buying an additional 780,125 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Bank Of New York Mellon Corporation (The) by 18.0% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,278,392 shares of the bank’s stock valued at $155,329,000 after buying an additional 500,827 shares during the period. Hedge funds and other institutional investors own 82.06% of the company’s stock.

Shares of Bank Of New York Mellon Corporation (BK) traded up 0.08% during trading on Friday, reaching $52.66. The company had a trading volume of 2,255,222 shares. The company has a 50 day moving average of $51.36 and a 200-day moving average of $48.00. Bank Of New York Mellon Corporation has a 52-week low of $38.53 and a 52-week high of $54.59. The firm has a market capitalization of $54.41 billion, a P/E ratio of 15.62 and a beta of 1.14.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its earnings results 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 for the quarter, compared to analyst estimates of $3.91 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The company’s quarterly revenue was up .4% on a year-over-year basis. Equities analysts expect that Bank Of New York Mellon Corporation will post $3.53 earnings per share for the current year.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Tuesday, August 1st will be issued 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 dividend yield of 1.82%. The ex-dividend date is Friday, July 28th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is 22.49%.

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Several analysts have issued reports on the stock. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Deutsche Bank AG raised their price target on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Bank of America Corporation set a $52.00 price target on shares of Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a research report 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 price target for the company in a research report on Monday, July 24th. Finally, Buckingham Research reissued a “neutral” rating and set a $57.00 price target (up previously from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Bank Of New York Mellon Corporation (The) currently has a consensus rating of “Buy” and an average target price of $53.00.

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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