Insider Selling: #Bank Of #New York Mellon #Corporation #Director Sells 143,792 #Shares of #Stock

Bank Of New York Mellon Corporation (The) (NYSE:BK) Director Edward P. Garden sold 143,792 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $52.52, for a total value of $7,551,955.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission

Shares of Bank Of New York Mellon Corporation (NYSE:BK) traded down $0.29 during mid-day trading on Friday, reaching $54.45. The company’s stock had a trading volume of 5,276,935 shares, compared to its average volume of 4,413,757. Bank Of New York Mellon Corporation has a one year low of $43.85 and a one year high of $55.29. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.69. The firm has a market capitalization of $56,054.96, a P/E ratio of 15.77, a PEG ratio of 1.99 and a beta of 1.22.

Bank Of New York Mellon (NYSE:BK) last announced its quarterly earnings results on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, beating the consensus estimate of $0.93 by $0.01. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The company had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter last year, the company posted $0.90 earnings per share. The company’s revenue for the quarter was up 1.9% compared to the same quarter last year. sell-side analysts expect that Bank Of New York Mellon Corporation will post 3.54 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Tuesday, October 31st were given a $0.24 dividend. The ex-dividend date was Monday, October 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.76%. Bank Of New York Mellon’s dividend payout ratio is 28.07%.

BK has been the topic of a number of research reports. Royal Bank Of Canada restated a “hold” rating and issued a $58.00 price objective on shares of Bank Of New York Mellon in a report on Wednesday, November 15th. Credit Suisse Group restated a “hold” rating and issued a $55.00 price objective on shares of Bank Of New York Mellon in a report on Tuesday, October 10th. Morgan Stanley increased their price objective on Bank Of New York Mellon from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. Jefferies Group restated a “hold” rating and issued a $56.00 price objective on shares of Bank Of New York Mellon in a report on Friday, September 15th. Finally, Goldman Sachs Group restated a “buy” rating and issued a $58.00 price objective (up previously from $52.85) on shares of Bank Of New York Mellon in a report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $55.28.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hudock Capital Group LLC boosted its position in shares of Bank Of New York Mellon by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after acquiring an additional 7 shares during the period. Kistler Tiffany Companies LLC boosted its position in shares of Bank Of New York Mellon by 0.3% in the second quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock valued at $212,000 after acquiring an additional 12 shares during the period. CHICAGO TRUST Co NA boosted its position in shares of Bank Of New York Mellon by 0.5% in the second quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock valued at $307,000 after acquiring an additional 29 shares during the period. Cpcm LLC boosted its position in shares of Bank Of New York Mellon by 0.4% in the first quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock valued at $458,000 after acquiring an additional 35 shares during the period. Finally, First Bank & Trust boosted its position in shares of Bank Of New York Mellon by 1.1% in the second quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock valued at $245,000 after acquiring an additional 52 shares during the period. 82.85% of the stock is owned by institutional investors.

Leave a Reply

Your email address will not be published. Required fields are marked *