The Bank of New York Mellon Co. (NYSE:BK) VP Sells $2,967,361.60 in Stock

The Bank of New York Mellon Co. (NYSE:BK) VP Catherine Keating sold 54,070 shares of the company’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares of the company’s stock, valued at $4,299,848. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Catherine Keating also recently made the following trade(s):

• On Thursday, February 8th, Catherine Keating sold 4,498 shares of Bank of New York Mellon stock. The stock was sold at an average price of $54.81, for a total value of $246,535.38.

Bank of New York Mellon Stock Performance

NYSE:BK opened at $57.94 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72. The firm has a 50-day moving average of $55.93 and a two-hundred day moving average of $51.63. The stock has a market cap of $43.62 billion, a P/E ratio of 14.13, a PEG ratio of 1.23 and a beta of 1.12. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.28.

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The company had revenue of $4.53 billion during the quarter, compared to analysts’ expectations of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.13 EPS. On average, research analysts expect that The Bank of New York Mellon Co. will post 5.42 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Friday, April 26th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.90%. Bank of New York Mellon’s payout ratio is 40.98%.

Hedge Funds Weigh In On Bank of New York Mellon

Several large investors have recently modified their holdings of BK. AE Wealth Management LLC lifted its position in shares of Bank of New York Mellon by 1.7% during the third quarter. AE Wealth Management LLC now owns 49,069 shares of the bank’s stock worth $2,093,000 after purchasing an additional 813 shares during the last quarter. HB Wealth Management LLC lifted its holdings in Bank of New York Mellon by 58.5% in the third quarter. HB Wealth Management LLC now owns 8,224 shares of the bank’s stock worth $351,000 after acquiring an additional 3,036 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Bank of New York Mellon by 23.4% in the third quarter. SG Americas Securities LLC now owns 61,911 shares of the bank’s stock worth $2,641,000 after acquiring an additional 11,739 shares during the last quarter. Hartford Investment Management Co. increased its stake in shares of Bank of New York Mellon by 5.6% in the third quarter. Hartford Investment Management Co. now owns 53,084 shares of the bank’s stock valued at $2,264,000 after purchasing an additional 2,802 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Bank of New York Mellon by 2.4% in the third quarter. State of Alaska Department of Revenue now owns 174,755 shares of the bank’s stock valued at $7,452,000 after purchasing an additional 4,115 shares during the period. Institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley upped their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Citigroup increased their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Jefferies Financial Group increased their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Evercore ISI increased their price target on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.