Bank Of New York Mellon Corporation (The) (BK) Chairman Sells $1,255,033.20 in Stock

Bank Of New York Mellon Corporation (The) (NYSE:BK) Chairman Gerald L. Hassell sold 24,280 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $51.69, for a total value of $1,255,033.20. Following the completion of the transaction, the chairman now directly owns 857,899 shares of the company’s stock, valued at approximately $44,344,799.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Bank Of New York Mellon Corporation (NYSE:BK) opened at $51.85 on Wednesday. The firm has a market capitalization of $52,245.60, a price-to-earnings ratio of 14.70, a PEG ratio of 1.92 and a beta of 1.22. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.85. Bank Of New York Mellon Corporation has a one year low of $43.85 and a one year high of $55.29.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.90 earnings per share. research analysts expect that Bank Of New York Mellon Corporation will post 3.54 EPS 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 paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Monday, October 30th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is 28.07%.

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A number of equities analysts have recently weighed in on BK shares. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Citigroup Inc. reissued a “neutral” rating and issued a $56.00 price target (up from $53.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, October 9th. Jefferies Group LLC reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, October 20th. Credit Suisse Group reaffirmed a “hold” rating and set a $55.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, October 10th. Finally, Zacks Investment Research raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Monday, July 24th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $55.28.

Institutional investors have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC raised its position in Bank Of New York Mellon Corporation (The) by 198.8% during the third quarter. Cubist Systematic Strategies LLC now owns 15,834 shares of the bank’s stock valued at $840,000 after purchasing an additional 10,534 shares during the period. Laurel Wealth Advisors Inc. purchased a new stake in shares of Bank Of New York Mellon Corporation (The) in the third quarter worth approximately $218,000. Madison Investment Holdings Inc. raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 10.4% in the third quarter. Madison Investment Holdings Inc. now owns 381,869 shares of the bank’s stock worth $20,247,000 after buying an additional 35,987 shares during the period. Bank of Nova Scotia Trust Co. purchased a new stake in shares of Bank Of New York Mellon Corporation (The) in the third quarter worth approximately $178,000. Finally, Capital Bank & Trust Co raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 73.3% in the third quarter. Capital Bank & Trust Co now owns 1,755,122 shares of the bank’s stock worth $93,057,000 after buying an additional 742,148 shares during the period. 82.73% of the stock is owned by institutional investors.

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.

Insider Buying and Selling by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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