The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) EVP J Kevin Mccarthy sold 40,000 shares of the company's stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the transaction, the executive vice president now owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Bank of New York Mellon Price Performance
NYSE BK opened at $57.45 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The company has a fifty day simple moving average of $55.86 and a 200 day simple moving average of $51.58. The company has a market cap of $43.25 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.21 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) 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 the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon's quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 EPS. On average, sell-side analysts predict that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.
Bank of New York Mellon Announces Dividend
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The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Thursday, April 25th. Bank of New York Mellon's dividend payout ratio is currently 40.98%.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on BK shares. UBS Group upped their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a "buy" rating in a research note on Tuesday, January 9th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a research note 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 company an "equal weight" rating in a research note on Thursday, April 18th. Evercore ISI upped their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an "in-line" rating in a research note on Thursday, April 4th. Finally, Bank of America boosted 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. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.17.
Read Our Latest Analysis on BK
Institutional Trading of Bank of New York Mellon
Several large investors have recently modified their holdings of the company. Wetzel Investment Advisors Inc. grew its position in Bank of New York Mellon by 82.1% in the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank's stock worth $28,000 after purchasing an additional 230 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth $28,000. Kathleen S. Wright Associates Inc. acquired a new stake in Bank of New York Mellon in the 1st quarter worth $32,000. Able Wealth Management LLC acquired a new stake in Bank of New York Mellon in the 4th quarter worth $32,000. Finally, Hartford Financial Management Inc. grew its position in Bank of New York Mellon by 41.4% in the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank's stock worth $33,000 after purchasing an additional 183 shares during the last quarter. 85.31% of the stock is owned by institutional investors.
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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