The Bank of New York Mellon Co. (NYSE:BK) VP Catherine Keating Sells 54,070 Shares

The Bank of New York Mellon Co. (NYSE:BK) VP Catherine Keating sold 54,070 shares of the stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Catherine Keating also recently made the following trade(s):

• On Thursday, February 8th, Catherine Keating sold 4,498 shares of Bank of New York Mellon stock. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38.

Bank of New York Mellon Price Performance

BK stock opened at $57.45 on Wednesday. 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 Bank of New York Mellon Co. has a 1 year low of $39.65 and a 1 year high of $58.28. The stock has a 50-day simple moving average of $55.86 and a 200-day simple moving average of $51.58. 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 posted its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.13 earnings per share. On average, equities analysts predict that The Bank of New York Mellon Co. will post 5.42 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be given 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 yield of 2.92%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Institutional Trading of Bank of New York Mellon

Hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Bank of New York Mellon by 22.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock valued at $11,596,000 after acquiring an additional 40,969 shares during the last quarter. Trust Point Inc. bought a new position in shares of Bank of New York Mellon during the fourth quarter worth about $310,000. WCG Wealth Advisors LLC acquired a new position in Bank of New York Mellon in the third quarter worth about $1,552,000. Meeder Asset Management Inc. acquired a new position in Bank of New York Mellon in the fourth quarter worth about $1,298,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Bank of New York Mellon by 22.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock valued at $109,088,000 after buying an additional 465,229 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BK shares. UBS Group upped their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Morgan Stanley increased their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Jefferies Financial Group boosted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Citigroup boosted their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.17.

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.