Bank of New York Mellon Sees Unusually High Options Volume (NYSE:BK)

The Bank of New York Mellon Co. (NYSE:BKGet Free Report) was the target of some unusual options trading activity on Monday. Investors purchased 2,690 put options on the company. This is an increase of 33% compared to the average volume of 2,025 put options.

Analysts Set New Price Targets

Several equities research analysts recently commented on BK shares. StockNews.com started coverage on Bank of New York Mellon in a research note on Thursday, August 17th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Bank of New York Mellon from $43.00 to $44.00 in a research note on Wednesday, July 19th. Finally, Citigroup cut their target price on shares of Bank of New York Mellon from $58.00 to $55.00 in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $52.90.

Read Our Latest Research Report on Bank of New York Mellon

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $46.33, for a total transaction of $1,621,550.00. Following the sale, the executive vice president now directly owns 98,102 shares of the company’s stock, valued at approximately $4,545,065.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Kurtis R. Kurimsky sold 14,045 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $45.64, for a total value of $641,013.80. Following the transaction, the insider now owns 23,816 shares in the company, valued at approximately $1,086,962.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 35,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $46.33, for a total transaction of $1,621,550.00. Following the sale, the executive vice president now owns 98,102 shares of the company’s stock, valued at $4,545,065.66. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bank of New York Mellon

A number of hedge funds have recently modified their holdings of the stock. ST Germain D J Co. Inc. purchased a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $149,000. ProVise Management Group LLC raised its stake in shares of Bank of New York Mellon by 0.9% during the 2nd quarter. ProVise Management Group LLC now owns 92,186 shares of the bank’s stock valued at $4,104,000 after purchasing an additional 777 shares during the period. Rehmann Capital Advisory Group lifted its holdings in Bank of New York Mellon by 6.0% during the 2nd quarter. Rehmann Capital Advisory Group now owns 9,238 shares of the bank’s stock worth $411,000 after purchasing an additional 520 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in Bank of New York Mellon in the 2nd quarter worth about $25,148,000. Finally, BOKF NA grew its holdings in Bank of New York Mellon by 513.7% during the 2nd quarter. BOKF NA now owns 36,807 shares of the bank’s stock valued at $1,639,000 after buying an additional 30,809 shares in the last quarter. Institutional investors own 81.29% of the company’s stock.

Bank of New York Mellon Stock Up 2.1 %

BK traded up $0.92 during midday trading on Monday, reaching $45.70. 2,336,639 shares of the company were exchanged, compared to its average volume of 5,166,182. The company has a market cap of $35.59 billion, a price-to-earnings ratio of 13.06, a price-to-earnings-growth ratio of 1.17 and a beta of 1.10. The company’s fifty day moving average price is $44.79 and its 200 day moving average price is $44.31. Bank of New York Mellon has a one year low of $36.22 and a one year high of $52.26. The company has a debt-to-equity ratio of 0.94, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BKGet Free Report) last announced its earnings results on Tuesday, July 18th. The bank reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.16. The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. Bank of New York Mellon had a return on equity of 11.88% and a net margin of 10.95%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm posted $1.15 EPS. As a group, analysts expect that Bank of New York Mellon will post 4.85 EPS for the current year.

Bank of New York Mellon Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 10th. Stockholders of record on Friday, July 28th were given a dividend of $0.42 per share. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.37. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend was Thursday, July 27th. Bank of New York Mellon’s dividend payout ratio is currently 48.98%.

About Bank of New York Mellon

(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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