Schwartz Investment Counsel Inc. raised its position in Bank Of New York Mellon Corporation (The) (NYSE:BK) by 9.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 554,200 shares of the bank’s stock after buying an additional 49,300 shares during the period. Bank Of New York Mellon Corporation (The) comprises about 1.7% of Schwartz Investment Counsel Inc.’s investment portfolio, making the stock its 24th largest position. Schwartz Investment Counsel Inc. owned 0.05% of Bank Of New York Mellon Corporation (The) worth $26,175,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $111,000. Hudock Capital Group LLC boosted its stake in shares of 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 worth $120,000 after buying an additional 7 shares in the last quarter. QCI Asset Management Inc. NY purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth about $125,000. Quadrant Capital Group LLC boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 3,726 shares of the bank’s stock worth $167,000 after buying an additional 94 shares in the last quarter. Finally, Kistler Tiffany Companies LLC boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Kistler Tiffany Companies LLC now owns 4,142 shares of the bank’s stock worth $196,000 after buying an additional 13 shares in the last quarter. Institutional investors own 82.36% of the company’s stock.

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

Bank Of New York Mellon Corporation (BK) opened at 49.89 on Friday. The firm’s 50-day moving average price is $47.61 and its 200-day moving average price is $47.20. Bank Of New York Mellon Corporation has a 12-month low of $35.72 and a 12-month high of $49.94. The stock has a market cap of $51.88 billion, a price-to-earnings ratio of 15.35 and a beta of 1.17.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its quarterly earnings data on Thursday, April 20th. The bank reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Bank Of New York Mellon Corporation (The) had a return on equity of 9.97% and a net margin of 23.12%. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the company earned $0.74 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities analysts predict that Bank Of New York Mellon Corporation will post $3.51 EPS for the current fiscal year.

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BK has been the topic of a number of research reports. Credit Suisse Group restated a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, April 21st. Deutsche Bank AG lowered their price objective on Bank Of New York Mellon Corporation (The) from $55.00 to $54.00 and set a “buy” rating on the stock in a research note on Thursday, April 6th. Evercore ISI cut Bank Of New York Mellon Corporation (The) from a “hold” rating to an “underperform” rating and set a $48.00 price objective on the stock. in a research note on Friday, March 3rd. Keefe, Bruyette & Woods set a $49.00 price objective on Bank Of New York Mellon Corporation (The) and gave the company a “hold” rating in a research note on Tuesday, April 4th. Finally, Bank of America Corporation restated an “underperform” rating and issued a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, May 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Bank Of New York Mellon Corporation (The) presently has an average rating of “Hold” and a consensus price target of $50.93.

In related news, EVP J Kevin Mccarthy sold 10,000 shares of Bank Of New York Mellon Corporation (The) stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $47.64, for a total transaction of $476,400.00. Following the sale, the executive vice president now owns 100,487 shares of the company’s stock, valued at approximately $4,787,200.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Thomas P. Gibbons sold 102,174 shares of Bank Of New York Mellon Corporation (The) stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $47.71, for a total value of $4,874,721.54. Following the sale, the insider now directly owns 271,416 shares in the company, valued at approximately $12,949,257.36. The disclosure for this sale can be found here. 3.60% of the stock is 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.

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