J Kevin Mccarthy Sells 40,000 Shares of The Bank of New York Mellon Co. (NYSE:BK) Stock

The Bank of New York Mellon Co. (NYSE:BK) EVP J Kevin Mccarthy sold 40,000 shares of the business’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 value of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Bank of New York Mellon Stock Performance

BK stock opened at $57.94 on Thursday. 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 has a market cap of $43.62 billion, a P/E ratio of 14.13, a P/E/G ratio of 1.23 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 stock’s 50 day simple moving average is $55.93 and its 200 day simple moving average is $51.63.

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 analysts’ consensus estimates of $1.19 by $0.10. The firm had revenue of $4.53 billion during 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 firm’s revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. As a group, equities research analysts predict that The Bank of New York Mellon Co. will post 5.42 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a dividend of $0.42 per share. 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 2.90%. Bank of New York Mellon’s payout ratio is currently 40.98%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BK shares. Citigroup upped their target price on Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Bank of America upped their target price on 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. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Jefferies Financial Group upped their target price 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. Finally, UBS Group upped their target price on Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $60.17.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. grew its stake in shares of Bank of New York Mellon by 4.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 60,336 shares of the bank’s stock worth $3,477,000 after purchasing an additional 2,766 shares in the last quarter. Dakota Wealth Management increased its stake in Bank of New York Mellon by 15.9% in the 1st quarter. Dakota Wealth Management now owns 147,030 shares of the bank’s stock worth $8,472,000 after purchasing an additional 20,162 shares in the last quarter. Simplicity Wealth LLC acquired a new stake in Bank of New York Mellon during the 1st quarter worth about $788,000. Essex Financial Services Inc. raised its holdings in Bank of New York Mellon by 3.8% during the 1st quarter. Essex Financial Services Inc. now owns 11,204 shares of the bank’s stock worth $646,000 after buying an additional 410 shares during the period. Finally, Bar Harbor Wealth Management acquired a new stake in Bank of New York Mellon during the 1st quarter worth about $284,000. 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.