The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) insider Kurtis R. Kurimsky sold 5,641 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares of the company's stock, valued at $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Bank of New York Mellon Price Performance
NYSE:BK opened at $75.68 on Thursday. The company has a market cap of $54.34 billion, a P/E ratio of 13.03, a P/E/G ratio of 0.97 and a beta of 1.03. The firm's fifty day moving average price is $83.08 and its two-hundred day moving average price is $80.23. The Bank of New York Mellon Co. has a one year low of $54.09 and a one year high of $90.34. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70.
Bank of New York Mellon (NYSE:BK - Get Free Report) last released its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm had revenue of $4.79 billion for the quarter, compared to analysts' expectations of $4.76 billion. During the same period in the prior year, the firm earned $1.29 EPS. The business's revenue was up 5.9% on a year-over-year basis. Equities analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current year.
Bank of New York Mellon Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Investors of record on Monday, April 21st will be paid a $0.47 dividend. The ex-dividend date is Monday, April 21st. This represents a $1.88 annualized dividend and a yield of 2.48%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BK. CRA Financial Services LLC acquired a new position in shares of Bank of New York Mellon in the first quarter valued at about $214,000. Opal Wealth Advisors LLC bought a new stake in Bank of New York Mellon in the 1st quarter valued at about $25,000. Farmers & Merchants Investments Inc. grew its position in shares of Bank of New York Mellon by 4.1% during the 1st quarter. Farmers & Merchants Investments Inc. now owns 5,116 shares of the bank's stock worth $429,000 after purchasing an additional 200 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Bank of New York Mellon by 29.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 223,438 shares of the bank's stock worth $18,740,000 after purchasing an additional 50,368 shares in the last quarter. Finally, Jackson Square Capital LLC bought a new position in shares of Bank of New York Mellon during the first quarter worth approximately $216,000. 85.31% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have weighed in on BK. Deutsche Bank Aktiengesellschaft upped their price target on Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Bank of America boosted their price target on shares of Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. Morgan Stanley decreased their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Finally, StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a report on Wednesday, February 19th. Six analysts have rated the stock with a hold rating and ten 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 a consensus price target of $89.64.
Check Out Our Latest Report on BK
About Bank of New York Mellon
(
Get Free Report)
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.
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