Bank of New York Mellon Corp (BK) Director Edward P. Garden Sells 1,336 Shares

Bank of New York Mellon Corp (NYSE:BK) Director Edward P. Garden sold 1,336 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.00, for a total transaction of $69,472.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Bank of New York Mellon stock traded up $0.34 on Thursday, hitting $52.78. 2,852,064 shares of the company traded hands, compared to its average volume of 3,689,920. The stock has a market cap of $49.57 billion, a P/E ratio of 12.54, a PEG ratio of 1.48 and a beta of 1.04. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.70 and a quick ratio of 0.70. Bank of New York Mellon Corp has a 52 week low of $43.67 and a 52 week high of $58.22.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Wednesday, January 16th. The bank reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.07. The firm had revenue of $4.01 billion for the quarter, compared to analysts’ expectations of $4.02 billion. Bank of New York Mellon had a net margin of 22.19% and a return on equity of 11.53%. The company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. As a group, equities analysts expect that Bank of New York Mellon Corp will post 4.26 EPS for the current year.

Bank of New York Mellon announced that its board has initiated a stock repurchase plan on Monday, December 10th that authorizes the company to buyback $830.00 million in outstanding shares. This buyback authorization authorizes the bank to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional investors have recently added to or reduced their stakes in the company. Lavaca Capital LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $27,000. Sontag Advisory LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth $33,000. Valley National Advisers Inc. increased its position in Bank of New York Mellon by 76.5% in the fourth quarter. Valley National Advisers Inc. now owns 713 shares of the bank’s stock worth $34,000 after purchasing an additional 309 shares during the last quarter. Berman Capital Advisors LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth $33,000. Finally, Essex Savings Bank bought a new stake in Bank of New York Mellon in the fourth quarter worth $35,000. Hedge funds and other institutional investors own 83.92% of the company’s stock.

A number of equities analysts have recently commented on the stock. Vining Sparks restated a “buy” rating and set a $55.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 23rd. Zacks Investment Research raised shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a report on Monday, January 21st. ValuEngine raised shares of Bank of New York Mellon from a “sell” rating to a “hold” rating in a report on Tuesday, November 20th. Deutsche Bank lowered their price target on shares of Bank of New York Mellon from $55.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, November 16th. Finally, Credit Suisse Group lowered their price target on shares of Bank of New York Mellon from $58.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, December 7th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $55.38.

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About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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