Senthilkumar Santhanakrishnan Sells 15,643 Shares of The Bank of New York Mellon Co. (NYSE:BK) Stock

The Bank of New York Mellon Co. (NYSE:BK) VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Bank of New York Mellon Stock Up 1.5 %

Shares of Bank of New York Mellon stock traded up $0.84 during midday trading on Thursday, hitting $58.35. The company’s stock had a trading volume of 3,790,703 shares, compared to its average volume of 3,864,657. The firm has a market capitalization of $43.93 billion, a P/E ratio of 14.23, a PEG ratio of 1.23 and a beta of 1.11. The Bank of New York Mellon Co. has a 1-year low of $39.65 and a 1-year high of $58.52. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.90. The stock has a 50-day simple moving average of $56.28 and a 200-day simple moving average of $52.68.

Bank of New York Mellon (NYSE:BK) last released its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for 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 company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. As a group, sell-side analysts expect that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently announced 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 2.88%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 40.98%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BK. Citigroup boosted their price target on Bank of New York Mellon from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Morgan Stanley increased their target price on shares of 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. Evercore ISI boosted their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the stock an “in-line” rating in a research report on Thursday, April 4th. Bank of America increased their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group boosted their target price on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $60.17.

Hedge Funds Weigh In On Bank of New York Mellon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. boosted its stake in Bank of New York Mellon by 82.1% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock valued at $28,000 after purchasing an additional 230 shares during the period. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $28,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Bank of New York Mellon in the first quarter valued at $32,000. Able Wealth Management LLC bought a new position in Bank of New York Mellon during the fourth quarter worth about $32,000. Finally, Hartford Financial Management Inc. raised its stake in Bank of New York Mellon by 41.4% during the fourth quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock worth $33,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

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.