The Bank of New York Mellon Co. (NYSE:BK) VP Sells $901,818.95 in Stock

The Bank of New York Mellon Co. (NYSE:BK) VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the transaction, the vice president now owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Bank of New York Mellon Price Performance

NYSE BK traded up $0.84 on Thursday, hitting $58.35. The company had a trading volume of 3,790,703 shares, compared to its average volume of 3,864,657. 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 company has a market capitalization of $43.93 billion, a PE ratio of 14.23, a PEG ratio of 1.23 and a beta of 1.11. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.52. The company’s fifty day moving average price is $56.28 and its 200-day moving average price is $52.68.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion during 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%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.13 earnings per share. As a group, analysts predict that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Stockholders 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 2.88%. 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 Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley increased their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, April 18th. Jefferies Financial Group raised their target price on 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. Citigroup boosted their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Bank of America raised their price objective on 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.17.

Institutional Investors Weigh In On Bank of New York Mellon

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trillium Asset Management LLC raised its position in shares of Bank of New York Mellon by 0.4% during the 1st quarter. Trillium Asset Management LLC now owns 162,321 shares of the bank’s stock valued at $9,353,000 after buying an additional 647 shares during the period. ProVise Management Group LLC lifted its stake in shares of Bank of New York Mellon by 2.0% in the 1st quarter. ProVise Management Group LLC now owns 98,803 shares of the bank’s stock valued at $5,693,000 after purchasing an additional 1,904 shares during the last quarter. Blair William & Co. IL increased its position in shares of Bank of New York Mellon by 1.6% during the 1st quarter. Blair William & Co. IL now owns 21,393 shares of the bank’s stock worth $1,233,000 after purchasing an additional 338 shares during the last quarter. Wilkins Investment Counsel Inc. purchased a new stake in Bank of New York Mellon in the 1st quarter valued at about $1,008,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Bank of New York Mellon by 18.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 902,684 shares of the bank’s stock valued at $52,013,000 after buying an additional 142,947 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

About Bank of New York Mellon

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.