Bank Of New York Mellon Corporation (The) (BK) Earns Media Impact Score of 0.12

News stories about Bank Of New York Mellon Corporation (The) (NYSE:BK) have trended somewhat positive on Tuesday, according to Accern Sentiment. The research firm identifies positive and negative media coverage by monitoring more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Bank Of New York Mellon Corporation (The) earned a coverage optimism score of 0.12 on Accern’s scale. Accern also gave press coverage about the bank an impact score of 46.557376489898 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.

These are some of the news stories that may have impacted Accern Sentiment Analysis’s scoring:

Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.61% during midday trading on Tuesday, hitting $54.66. The firm has a market cap of $56.47 billion, a PE ratio of 16.21 and a beta of 1.15. The company’s 50 day moving average price is $52.47 and its 200 day moving average price is $50.24. Bank Of New York Mellon Corporation has a 1-year low of $38.68 and a 1-year high of $54.81.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its quarterly earnings data on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The company had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.91 billion. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. Bank Of New York Mellon Corporation (The)’s revenue for the quarter was up .4% on a year-over-year basis. During the same period last year, the firm earned $0.76 EPS. Equities research analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.

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

Several equities analysts have recently weighed in on the company. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a report on Sunday, August 6th. Citigroup Inc. restated a “neutral” rating and issued a $56.00 price objective (up previously from $53.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday. Credit Suisse Group restated a “hold” rating and issued a $55.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday. Buckingham Research restated a “neutral” rating and issued a $57.00 price objective (up previously from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. Finally, Jefferies Group LLC restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $54.81.

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In related news, Vice Chairman Brian T. Shea sold 44,250 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $52.90, for a total value of $2,340,825.00. Following the transaction, the insider now owns 204,043 shares in the company, valued at approximately $10,793,874.70. The sale was disclosed in a filing with the SEC, which is available 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 transaction of $37,775,761.29. Following the completion of the transaction, the chairman now owns 1,253,522 shares in the company, valued at approximately $67,577,371.02. The disclosure for this sale can be found here. Insiders sold a total of 10,931,137 shares of company stock worth $581,058,723 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

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.

Insider Buying and Selling by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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