The Bank of New York Mellon Co. (NYSE:BK) EVP J Kevin Mccarthy Sells 40,000 Shares of Stock

The Bank of New York Mellon Co. (NYSE:BK) EVP J Kevin Mccarthy sold 40,000 shares of the stock in a transaction dated 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 directly owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Bank of New York Mellon Stock Up 0.5 %

Shares of NYSE BK opened at $57.45 on Wednesday. The Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The firm’s 50 day moving average price is $55.86 and its 200 day moving average price is $51.58. The firm has a market cap of $43.25 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates 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 revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $1.13 EPS. As a group, sell-side analysts anticipate 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. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.92%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BK shares. Citigroup increased their target price on shares of 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. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research note on Thursday, April 4th. UBS Group raised their price objective on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Jefferies Financial Group raised their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Bank of America raised their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research note on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $60.17.

Hedge Funds Weigh In On Bank of New York Mellon

A number of hedge funds have recently made changes to their positions in the stock. Wetzel Investment Advisors Inc. lifted its holdings in shares of Bank of New York Mellon by 82.1% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock valued at $28,000 after acquiring an additional 230 shares in the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at $28,000. Able Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 4th quarter valued at $32,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Bank of New York Mellon during the 1st quarter valued at $32,000. Finally, Hartford Financial Management Inc. lifted its holdings in shares of Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after acquiring an additional 183 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

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.