Catherine Keating Sells 65,473 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 65,473 shares of the business’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $77.31, for a total value of $5,061,717.63. Following the completion of the transaction, the vice president now directly owns 87,542 shares of the company’s stock, valued at approximately $6,767,872.02. This trade represents a 42.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Bank of New York Mellon Price Performance

BK opened at $76.25 on Friday. The company has a 50 day moving average of $82.91 and a two-hundred day moving average of $80.26. The Bank of New York Mellon Co. has a 52-week low of $54.76 and a 52-week high of $90.34. The company has a quick ratio of 0.70, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market cap of $54.75 billion, a P/E ratio of 13.12, a P/E/G ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.29 EPS. On average, 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Monday, April 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, April 21st. Bank of New York Mellon’s dividend payout ratio is presently 30.62%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on BK shares. Wolfe Research downgraded shares of Bank of New York Mellon from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd. Truist Financial reduced their price objective on shares of Bank of New York Mellon from $90.00 to $87.00 and set a “buy” rating on the stock in a research note on Monday. UBS Group lifted their target price on shares of Bank of New York Mellon from $88.00 to $94.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Barclays increased their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an “overweight” rating in a research note on Thursday, January 16th. Finally, Evercore ISI lifted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the company an “in-line” rating in a research report on Tuesday, April 1st. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $89.64.

Institutional Trading of Bank of New York Mellon

Several large investors have recently bought and sold shares of BK. Parvin Asset Management LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in Bank of New York Mellon in the 1st quarter valued at about $25,000. Bellwether Advisors LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $28,000. REAP Financial Group LLC increased its position in shares of Bank of New York Mellon by 123.2% during the fourth quarter. REAP Financial Group LLC now owns 395 shares of the bank’s stock worth $30,000 after acquiring an additional 218 shares during the last quarter. Finally, Transce3nd LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

About Bank of New York Mellon

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.