The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) VP Catherine Keating sold 54,070 shares of the company's stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a filing with the SEC, which is available 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 shares were sold at an average price of $54.81, for a total value of $246,535.38.
Bank of New York Mellon Stock Up 1.5 %
Bank of New York Mellon stock opened at $57.16 on Tuesday. The firm has a market cap of $43.03 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.21 and a beta of 1.12. The firm has a fifty day moving average price of $55.79 and a two-hundred day moving average price of $51.48. The Bank of New York Mellon Co. has a fifty-two week low of $39.65 and a fifty-two week high of $58.28. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.71 and a quick ratio of 0.72.
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Bank of New York Mellon (NYSE:BK - Get Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to analysts' expectations of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The firm's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. As a group, analysts forecast that The Bank of New York Mellon Co. will post 5.42 earnings per share for the current year.
Bank of New York Mellon Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon's dividend payout ratio (DPR) is presently 40.98%.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on the stock. Citigroup raised their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, February 14th. Royal Bank of Canada restated a "sector perform" rating and set a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Morgan Stanley upped their price objective on shares of 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. Bank of America increased their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a "buy" rating in a research report on Wednesday, April 17th. Finally, UBS Group boosted their price target on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a "buy" rating in a research report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average price target of $60.17.
Get Our Latest Report on Bank of New York Mellon
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quent Capital LLC lifted its holdings in Bank of New York Mellon by 3.8% during the 4th quarter. Quent Capital LLC now owns 5,033 shares of the bank's stock valued at $262,000 after purchasing an additional 182 shares during the last quarter. Hartford Financial Management Inc. increased its holdings in Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank's stock valued at $33,000 after purchasing an additional 183 shares during the last quarter. Vivaldi Capital Management LP increased its stake in shares of Bank of New York Mellon by 3.3% in the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank's stock valued at $324,000 after acquiring an additional 192 shares during the last quarter. Certuity LLC raised its holdings in Bank of New York Mellon by 2.3% in the fourth quarter. Certuity LLC now owns 8,972 shares of the bank's stock worth $467,000 after purchasing an additional 205 shares during the period. Finally, Choreo LLC raised its stake in Bank of New York Mellon by 1.8% during the 4th quarter. Choreo LLC now owns 11,903 shares of the bank's stock worth $620,000 after buying an additional 208 shares during the period. Institutional investors own 85.31% of the company's stock.
Bank of New York Mellon Company Profile
(
Get Free Report)
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.
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