The Bank of New York Mellon Corporation (BK) to Issue Quarterly Dividend of $0.53 on February 5th

The Bank of New York Mellon Corporation (NYSE:BK) announced a quarterly dividend on Tuesday, January 13th. Stockholders of record on Friday, January 23rd will be paid a dividend of 0.53 per share by the bank on Thursday, February 5th. This represents a c) annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, January 23rd.

Bank of New York Mellon has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 14 consecutive years. Bank of New York Mellon has a dividend payout ratio of 28.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Bank of New York Mellon to earn $7.83 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 27.1%.

Bank of New York Mellon Price Performance

BK stock opened at $120.60 on Wednesday. The firm has a 50 day moving average of $115.46 and a 200-day moving average of $108.15. The company has a current ratio of 0.71, a quick ratio of 0.70 and a debt-to-equity ratio of 0.81. Bank of New York Mellon has a 12 month low of $70.46 and a 12 month high of $125.89. The firm has a market capitalization of $84.10 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.13 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. Bank of New York Mellon had a net margin of 13.62% and a return on equity of 14.37%. The business had revenue of $5.07 billion for the quarter. As a group, sell-side analysts predict that Bank of New York Mellon will post 6.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Westside Investment Management Inc. boosted its stake in Bank of New York Mellon by 78.9% during the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after purchasing an additional 127 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Bank of New York Mellon during the fourth quarter valued at $27,000. Marquette Asset Management LLC raised its position in Bank of New York Mellon by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after buying an additional 166 shares during the last quarter. Hoey Investments Inc. purchased a new position in Bank of New York Mellon in the 2nd quarter worth about $32,000. Finally, Valley Wealth Managers Inc. bought a new position in Bank of New York Mellon during the 3rd quarter valued at about $33,000. Institutional investors own 85.31% of the company’s stock.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.