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

The Bank of New York Mellon Co. (NYSE:BK) VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the sale, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 Stock Up 0.5 %

Shares of NYSE BK opened at $57.45 on Wednesday. The stock has a market capitalization of $43.25 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.21 and a beta of 1.12. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.28. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The firm’s 50-day moving average price is $55.86 and its 200-day moving average price is $51.58.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.13 earnings per share. On average, equities research analysts anticipate that The Bank of New York Mellon Co. will post 5.42 EPS 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 paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.92%. The ex-dividend date is Thursday, April 25th. Bank of New York Mellon’s payout ratio is 40.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Citigroup boosted their target price 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. UBS Group increased their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Bank of America boosted 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 report on Wednesday, April 17th. Jefferies Financial Group boosted their price objective on Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Morgan Stanley increased their price target on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 18th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus target price 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 company. AE Wealth Management LLC lifted its stake in shares of Bank of New York Mellon by 1.7% during the 3rd quarter. AE Wealth Management LLC now owns 49,069 shares of the bank’s stock worth $2,093,000 after acquiring an additional 813 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of Bank of New York Mellon by 58.5% during the third quarter. HB Wealth Management LLC now owns 8,224 shares of the bank’s stock valued at $351,000 after purchasing an additional 3,036 shares during the period. SG Americas Securities LLC increased its stake in Bank of New York Mellon by 23.4% in the 3rd quarter. SG Americas Securities LLC now owns 61,911 shares of the bank’s stock worth $2,641,000 after buying an additional 11,739 shares during the period. Hartford Investment Management Co. raised its stake in shares of Bank of New York Mellon by 5.6% during the third quarter. Hartford Investment Management Co. now owns 53,084 shares of the bank’s stock valued at $2,264,000 after acquiring an additional 2,802 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its stake in Bank of New York Mellon by 2.4% in the third quarter. State of Alaska Department of Revenue now owns 174,755 shares of the bank’s stock worth $7,452,000 after purchasing an additional 4,115 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

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.