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 Bank of New York Mellon stock in a transaction 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 owns 100,404 shares in the company, valued at approximately $5,637,684.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $57.17 on Friday. The Bank of New York Mellon Co. has a one year low of $39.65 and a one year high of $58.28. The company has a market cap of $43.04 billion, a PE ratio of 13.94, a P/E/G ratio of 1.24 and a beta of 1.12. 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 business has a 50-day simple moving average of $55.97 and a 200-day simple moving average of $51.67.

Bank of New York Mellon (NYSE:BK) last announced its quarterly earnings results 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 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 quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share. On average, equities research analysts forecast that The Bank of New York Mellon Co. will post 5.43 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Hedge Funds Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quent Capital LLC boosted its holdings in Bank of New York Mellon by 3.8% in the fourth quarter. Quent Capital LLC now owns 5,033 shares of the bank’s stock valued at $262,000 after purchasing an additional 182 shares in the last quarter. Hartford Financial Management Inc. boosted its holdings in Bank of New York Mellon by 41.4% in the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares in the last quarter. Vivaldi Capital Management LP lifted its stake in Bank of New York Mellon by 3.3% in the fourth quarter. Vivaldi Capital Management LP now owns 6,015 shares of the bank’s stock valued at $324,000 after buying an additional 192 shares during the last quarter. Certuity LLC lifted its stake in Bank of New York Mellon by 2.3% in the fourth quarter. Certuity LLC now owns 8,972 shares of the bank’s stock valued at $467,000 after buying an additional 205 shares during the last quarter. Finally, Choreo LLC lifted its stake in Bank of New York Mellon by 1.8% in the fourth quarter. Choreo LLC now owns 11,903 shares of the bank’s stock valued at $620,000 after buying an additional 208 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BK has been the topic of several analyst reports. UBS Group lifted their price target on Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, January 9th. Bank of America lifted 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. Jefferies Financial Group lifted 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. Morgan Stanley lifted their target price on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Finally, Evercore ISI lifted their target price on Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a research report on Thursday, April 4th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.