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

The Bank of New York Mellon Co. (NYSE:BK) VP Catherine Keating sold 54,070 shares of Bank of New York Mellon 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 completion of 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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 Price Performance

Shares of NYSE:BK opened at $57.16 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.72 and a current ratio of 0.71. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The business’s fifty day moving average price is $55.79 and its two-hundred day moving average price is $51.48. The stock has a market cap of $43.03 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.21 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The firm had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the company posted $1.13 EPS. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts forecast that The Bank of New York Mellon Co. will post 5.42 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.94%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.98%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Bank of New York Mellon by 22.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock worth $11,596,000 after acquiring an additional 40,969 shares during the period. Trust Point Inc. purchased a new position in Bank of New York Mellon during the fourth quarter worth approximately $310,000. WCG Wealth Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $1,552,000. Meeder Asset Management Inc. purchased a new stake in shares of Bank of New York Mellon during the 4th quarter valued at $1,298,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Bank of New York Mellon by 22.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,557,750 shares of the bank’s stock worth $109,088,000 after buying an additional 465,229 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BK has been the topic of several recent analyst reports. Bank of America boosted their target price 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. Morgan Stanley increased their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Royal Bank of Canada restated a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a research report on Wednesday, March 27th. Evercore ISI raised their price objective on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research note on Thursday, April 4th. Finally, UBS Group upped their target price on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday, January 9th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $60.17.

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.