Senthilkumar Santhanakrishnan Sells 15,643 Shares of The Bank of New York Mellon Co. (NYSE:BK) Stock

The Bank of New York Mellon Co. (NYSE:BK) VP Senthilkumar Santhanakrishnan sold 15,643 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total value of $901,818.95. Following the transaction, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bank of New York Mellon Stock Up 0.2 %

Shares of BK opened at $58.44 on Friday. 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 stock has a market capitalization of $44.00 billion, a PE ratio of 14.25, a P/E/G ratio of 1.24 and a beta of 1.11. The firm’s 50 day moving average is $56.33 and its 200-day moving average is $52.72. The Bank of New York Mellon Co. has a 12 month low of $39.65 and a 12 month high of $58.74.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings data 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. The firm had revenue of $4.53 billion during the quarter, compared to analysts’ expectations 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 previous year, the firm earned $1.13 EPS. Equities research analysts forecast that The Bank of New York Mellon Co. will post 5.43 EPS for the current year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, April 25th. Bank of New York Mellon’s payout ratio is presently 40.98%.

Institutional Trading of Bank of New York Mellon

Institutional investors and hedge funds have recently made changes to their positions in the company. Raymond James & Associates boosted its stake in shares of Bank of New York Mellon by 5.9% in the 3rd quarter. Raymond James & Associates now owns 470,999 shares of the bank’s stock valued at $20,088,000 after purchasing an additional 26,219 shares in the last quarter. Advisor Partners II LLC boosted its position in Bank of New York Mellon by 5.0% in the third quarter. Advisor Partners II LLC now owns 29,559 shares of the bank’s stock valued at $1,261,000 after buying an additional 1,412 shares in the last quarter. TD Asset Management Inc grew its stake in shares of Bank of New York Mellon by 0.5% during the third quarter. TD Asset Management Inc now owns 251,208 shares of the bank’s stock worth $10,714,000 after buying an additional 1,145 shares during the last quarter. TIAA Trust National Association acquired a new position in shares of Bank of New York Mellon during the third quarter worth $1,137,000. Finally, ING Groep NV bought a new position in shares of Bank of New York Mellon in the 3rd quarter valued at $312,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $58.00 target price on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Bank of America upped 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 report on Wednesday, April 17th. Citigroup raised their target price on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, February 14th. Jefferies Financial Group upped their price target on shares of 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 raised their price objective on shares of 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. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $60.17.

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.