Insider Selling: The Bank of New York Mellon (BK) EVP Sells 15,000 Shares of Stock

The Bank of New York Mellon (NYSE:BK) EVP J Kevin Mccarthy sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 23rd. The stock was sold at an average price of $55.89, for a total transaction of $838,350.00. Following the transaction, the executive vice president now directly owns 100,609 shares of the company’s stock, valued at $5,623,037.01. The sale was disclosed in a document filed with the SEC, which is available through this link.

BK stock opened at $57.28 on Friday. The company has a market cap of $57.67 billion, a PE ratio of 15.91, a PEG ratio of 1.76 and a beta of 1.22. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.77. The Bank of New York Mellon has a 52-week low of $56.60 and a 52-week high of $56.98.

The Bank of New York Mellon (NYSE:BK) last posted its earnings results on Thursday, April 19th. The bank reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.14. The Bank of New York Mellon had a net margin of 25.20% and a return on equity of 11.27%. The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.04 billion. During the same period in the previous year, the firm posted $0.83 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. equities research analysts anticipate that The Bank of New York Mellon will post 4.19 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Tuesday, May 1st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date of this dividend was Monday, April 30th. The Bank of New York Mellon’s dividend payout ratio is 26.67%.

A number of equities analysts have weighed in on BK shares. Deutsche Bank lifted their price target on shares of The Bank of New York Mellon from $64.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, March 6th. Barclays restated a “buy” rating on shares of The Bank of New York Mellon in a report on Sunday, January 21st. ValuEngine raised shares of The Bank of New York Mellon from a “hold” rating to a “buy” rating in a research note on Thursday, April 19th. Zacks Investment Research raised shares of The Bank of New York Mellon from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research note on Tuesday, April 24th. Finally, Vining Sparks reissued a “hold” rating and issued a $60.00 target price on shares of The Bank of New York Mellon in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company’s stock. The Bank of New York Mellon presently has a consensus rating of “Hold” and a consensus target price of $58.26.

Several institutional investors have recently made changes to their positions in BK. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of The Bank of New York Mellon during the 1st quarter worth about $117,549,000. LSV Asset Management increased its position in shares of The Bank of New York Mellon by 195.3% during the 1st quarter. LSV Asset Management now owns 3,403,100 shares of the bank’s stock worth $175,361,000 after purchasing an additional 2,250,655 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of The Bank of New York Mellon by 71.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 5,369,313 shares of the bank’s stock worth $289,191,000 after purchasing an additional 2,229,702 shares in the last quarter. Federated Investors Inc. PA increased its position in shares of The Bank of New York Mellon by 1,042.8% during the 1st quarter. Federated Investors Inc. PA now owns 2,195,351 shares of the bank’s stock worth $113,126,000 after purchasing an additional 2,003,240 shares in the last quarter. Finally, Millennium Management LLC increased its position in The Bank of New York Mellon by 247.6% in the 4th quarter. Millennium Management LLC now owns 1,974,550 shares of the bank’s stock valued at $106,349,000 after acquiring an additional 1,406,475 shares in the last quarter. Institutional investors and hedge funds own 84.05% of the company’s stock.

About The Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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

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