Traders Buy Large Volume of Put Options on The Bank of New York Mellon (NYSE:BK)


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The Bank of New York Mellon Co. (NYSE:BK) saw unusually large options trading activity on Thursday. Stock traders bought 6,752 put options on the company. This is an increase of 1,219% compared to the average daily volume of 512 put options.

A number of equities analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of The Bank of New York Mellon from $43.00 to $49.00 and gave the stock a “sector perform” rating in a report on Thursday, January 21st. Bank of America raised shares of The Bank of New York Mellon from an “underperform” rating to a “buy” rating and lifted their price target for the company from $43.00 to $50.00 in a report on Tuesday, March 30th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of The Bank of New York Mellon from a “neutral” rating to a “buy” rating and lifted their price target for the company from $44.00 to $57.00 in a report on Monday, January 11th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of The Bank of New York Mellon from $50.00 to $54.00 and gave the company a “buy” rating in a report on Friday, April 9th. Finally, Morgan Stanley cut their price target on shares of The Bank of New York Mellon from $51.00 to $50.00 and set an “equal weight” rating for the company in a report on Thursday, January 21st. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $49.40.

Several large investors have recently modified their holdings of BK. Bronte Capital Management Pty Ltd. acquired a new stake in shares of The Bank of New York Mellon during the 3rd quarter worth approximately $16,839,000. Wealth Alliance grew its position in shares of The Bank of New York Mellon by 15.2% during the 3rd quarter. Wealth Alliance now owns 9,738 shares of the bank’s stock worth $334,000 after buying an additional 1,282 shares during the period. Great West Life Assurance Co. Can grew its position in shares of The Bank of New York Mellon by 2.3% during the 3rd quarter. Great West Life Assurance Co. Can now owns 1,686,815 shares of the bank’s stock worth $57,967,000 after buying an additional 37,338 shares during the period. Schonfeld Strategic Advisors LLC grew its position in shares of The Bank of New York Mellon by 15.7% during the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 641,951 shares of the bank’s stock worth $22,045,000 after buying an additional 87,311 shares during the period. Finally, Jeppson Wealth Management LLC acquired a new stake in shares of The Bank of New York Mellon during the 3rd quarter worth approximately $99,000. Institutional investors own 82.27% of the company’s stock.

BK opened at $46.07 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $40.40 billion, a PE ratio of 10.10, a PEG ratio of 1.38 and a beta of 1.07. The Bank of New York Mellon has a 1-year low of $31.24 and a 1-year high of $49.13. The firm has a 50-day moving average price of $46.34 and a two-hundred day moving average price of $41.59.

The Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, April 16th. The bank reported $0.97 EPS for the quarter, topping the consensus estimate of $0.87 by $0.10. The Bank of New York Mellon had a net margin of 23.09% and a return on equity of 9.89%. The company had revenue of $3.92 billion during the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The Bank of New York Mellon’s revenue was down 4.6% on a year-over-year basis. On average, research analysts predict that The Bank of New York Mellon will post 3.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 11th. Stockholders of record on Wednesday, April 28th will be given a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 2.69%. The Bank of New York Mellon’s dividend payout ratio is 30.85%.

The Bank of New York Mellon Company Profile

The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the Investment Services and Investment Management segments. The Investment Services segment includes institutional trust and custody fees, broker-dealer services, corporate trust, depositary receipts, and foreign exchange.

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