Insider Selling: The Bank of New York Mellon Co. (NYSE:BK) EVP Sells $2,246,000.00 in Stock

The Bank of New York Mellon Co. (NYSE:BK) EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now directly 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 available at the SEC website.

Bank of New York Mellon Trading Down 1.3 %

Shares of BK opened at $57.17 on Friday. The stock has a market capitalization of $43.04 billion, a P/E ratio of 13.94, a PEG ratio of 1.24 and a beta of 1.12. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The firm has a fifty day simple moving average of $55.97 and a two-hundred day simple moving average of $51.67. The Bank of New York Mellon Co. has a twelve month low of $39.65 and a twelve month high of $58.28.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 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 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% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. On average, research analysts anticipate that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.94%. Bank of New York Mellon’s payout ratio is 40.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BK. 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. Bank of America upped their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. 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. 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. Finally, Citigroup upped 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 note on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Quent Capital LLC increased its stake 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 in the last quarter. Hartford Financial Management Inc. increased its stake in 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 purchasing an additional 183 shares in the last quarter. Vivaldi Capital Management LP increased its stake in Bank of New York Mellon by 3.3% during the 4th quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after purchasing an additional 192 shares in the last quarter. Certuity LLC increased its stake in Bank of New York Mellon by 2.3% during the 4th quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after purchasing an additional 205 shares in the last quarter. Finally, Choreo LLC increased 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 valued at $620,000 after purchasing an additional 208 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

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.