Short Interest in The Bank of New York Mellon Co. (NYSE:BK) Decreases By 5.8%

The Bank of New York Mellon Co. (NYSE:BK) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 6,660,000 shares, a drop of 5.8% from the March 31st total of 7,070,000 shares. Based on an average daily volume of 3,770,000 shares, the short-interest ratio is presently 1.8 days. Approximately 0.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages have commented on BK. Bank of America raised their price objective 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. Evercore ISI raised their target price 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. Jefferies Financial Group boosted their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. UBS Group boosted their target price 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Stock Up 0.0 %

BK opened at $57.34 on Tuesday. The firm’s 50 day simple moving average is $56.05 and its two-hundred day simple moving average is $52.02. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. Bank of New York Mellon has a 1-year low of $39.65 and a 1-year high of $58.28. The company has a market capitalization of $43.17 billion, a PE ratio of 13.99, a PEG ratio of 1.23 and a beta of 1.12.

Bank of New York Mellon (NYSE:BK) last released its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. 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 firm posted $1.13 EPS. As a group, equities analysts forecast that Bank of New York Mellon will post 5.43 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Friday, April 26th will be paid a $0.42 dividend. 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 2.93%. Bank of New York Mellon’s payout ratio is presently 40.98%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $54.81, for a total value of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 40,000 shares of Bank of New York Mellon stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the transaction, the vice president now directly owns 123,490 shares in the company, valued at $6,768,486.90. The disclosure for this sale can be found here. Insiders sold a total of 98,568 shares of company stock valued at $5,459,897 in the last three months. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On Bank of New York Mellon

Large investors have recently made changes to their positions in the business. Caprock Group LLC lifted its stake in Bank of New York Mellon by 4.6% in the 1st quarter. Caprock Group LLC now owns 26,442 shares of the bank’s stock worth $1,524,000 after purchasing an additional 1,172 shares in the last quarter. Perigon Wealth Management LLC grew its holdings in Bank of New York Mellon by 11.0% during the 1st quarter. Perigon Wealth Management LLC now owns 5,869 shares of the bank’s stock valued at $338,000 after buying an additional 583 shares in the last quarter. OFI Invest Asset Management raised its holdings in shares of Bank of New York Mellon by 17.1% during the 1st quarter. OFI Invest Asset Management now owns 20,921 shares of the bank’s stock worth $1,116,000 after acquiring an additional 3,049 shares in the last quarter. Greenleaf Trust boosted its position in shares of Bank of New York Mellon by 0.7% during the 1st quarter. Greenleaf Trust now owns 28,349 shares of the bank’s stock valued at $1,633,000 after acquiring an additional 187 shares during the last quarter. Finally, Conning Inc. grew its holdings in shares of Bank of New York Mellon by 16,216.0% in the first quarter. Conning Inc. now owns 630,123 shares of the bank’s stock valued at $36,232,000 after purchasing an additional 626,261 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

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.