The Bank of New York Mellon Co. (NYSE:BK) VP Sells $961,650.00 in Stock

The Bank of New York Mellon Co. (NYSE:BK) VP Hanneke Smits sold 15,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the sale, the vice president now owns 173,930 shares in the company, valued at $11,150,652.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Bank of New York Mellon Stock Down 1.2 %

Shares of NYSE:BK opened at $62.69 on Monday. The company has a current ratio of 0.70, a quick ratio of 0.71 and a debt-to-equity ratio of 0.85. The firm has a market cap of $46.88 billion, a price-to-earnings ratio of 14.51, a PEG ratio of 1.12 and a beta of 1.09. The stock’s 50-day moving average price is $59.83 and its two-hundred day moving average price is $57.14. The Bank of New York Mellon Co. has a 12-month low of $39.66 and a 12-month high of $65.90.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Friday, July 12th. The bank reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The business had revenue of $4.60 billion for the quarter, compared to analysts’ expectations of $4.53 billion. During the same period last year, the company earned $1.38 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, research analysts forecast that The Bank of New York Mellon Co. will post 5.58 EPS for the current year.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.00%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. The ex-dividend date is Monday, July 22nd. Bank of New York Mellon’s dividend payout ratio is presently 38.89%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Evercore ISI lifted their target price on shares of Bank of New York Mellon from $61.00 to $66.00 and gave the stock an “in-line” rating in a research report on Monday, July 15th. Bank of America lifted 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 report on Wednesday, April 17th. Barclays increased their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, July 15th. Deutsche Bank Aktiengesellschaft boosted their price target on Bank of New York Mellon from $61.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 15th. Finally, Citigroup lowered Bank of New York Mellon from a “buy” rating to a “neutral” rating and set a $65.00 price objective on the stock. in a research note on Monday, July 15th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.23.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BK. United Services Automobile Association lifted its stake in shares of Bank of New York Mellon by 6.9% in the 4th quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after purchasing an additional 1,640 shares in the last quarter. Entropy Technologies LP acquired a new position in Bank of New York Mellon during the first quarter valued at approximately $1,027,000. Searle & CO. purchased a new stake in Bank of New York Mellon during the fourth quarter worth approximately $234,000. QRG Capital Management Inc. increased its position in shares of Bank of New York Mellon by 6.9% in the first quarter. QRG Capital Management Inc. now owns 127,576 shares of the bank’s stock worth $7,351,000 after acquiring an additional 8,204 shares in the last quarter. Finally, Wakefield Asset Management LLLP purchased a new position in shares of Bank of New York Mellon in the 1st quarter valued at $3,740,000. 85.31% of the stock is owned by hedge funds and other 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.