Media headlines about Bank Of New York Mellon Corporation (The) (NYSE:BK) have trended positive recently, according to Accern Sentiment Analysis. The research firm identifies negative and positive media coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Bank Of New York Mellon Corporation (The) earned a coverage optimism score of 0.29 on Accern’s scale. Accern also assigned headlines about the bank an impact score of 46.3508260554326 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:
- Old National (ONB) to Acquire Anchor Bancorp for $303.2M – Nasdaq (nasdaq.com)
- HighTower Advisors Increases Position in Bank Of New York Mellon Corporation (The) (BK) – Insider Tradings (insidertradings.org)
- Bank Of New York Mellon Corporation (The) (BK) Receives New Coverage from Analysts at Wells Fargo & Company (americanbankingnews.com)
- Wednesday 8/9 Insider Buying Report: BK, SBUX – Nasdaq (nasdaq.com)
- Bank Of New York Mellon Corp (BK) CEO Charles W Scharf Bought $10.1 million of Shares – Nasdaq (nasdaq.com)
A number of analysts recently commented on BK shares. Jefferies Group LLC reaffirmed a “hold” rating and set a $52.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 11th. Credit Suisse Group reaffirmed a “neutral” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, April 21st. Rafferty Capital Markets reaffirmed a “buy” rating and set a $53.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 25th. Bank of America Corporation reaffirmed an “underperform” rating and set a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, May 26th. Finally, BidaskClub raised Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $53.00.
Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.46% during trading on Wednesday, hitting $54.04. The stock had a trading volume of 4,394,208 shares. The company has a 50 day moving average of $51.95 and a 200-day moving average of $48.21. The company has a market cap of $55.83 billion, a P/E ratio of 16.03 and a beta of 1.15. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.59.
Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The firm had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the prior year, the company earned $0.76 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. On average, equities analysts predict that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.
Bank Of New York Mellon Corporation (The) announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 28th that allows the company to buyback $3.10 billion in shares. This buyback authorization allows the bank to reacquire up to 5.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Tuesday, August 1st will be paid a dividend of $0.24 per share. This is an increase from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, July 28th. This represents a $0.96 annualized dividend and a yield of 1.78%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is presently 28.40%.
In other Bank Of New York Mellon Corporation (The) news, CEO Charles W. Scharf bought 186,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average price of $53.82 per share, for a total transaction of $10,058,958.00. Following the purchase, the chief executive officer now directly owns 73,640 shares in the company, valued at $3,963,304.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Gerald L. Hassell sold 700,719 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $53.91, for a total value of $37,775,761.29. Following the sale, the chairman now owns 1,253,522 shares of the company’s stock, valued at approximately $67,577,371.02. The disclosure for this sale can be found here. 3.60% of the stock is owned by corporate insiders.
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About Bank Of New York Mellon Corporation (The)
The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.
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