Bank of New York Mellon (NYSE:BK) Sets New 1-Year High at $60.91

Shares of The Bank of New York Mellon Co. (NYSE:BK) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $60.91 and last traded at $60.53, with a volume of 367028 shares. The stock had previously closed at $60.50.

Analysts Set New Price Targets

BK has been the topic of several research reports. Evercore ISI restated an “in-line” rating and issued a $61.00 target price on shares of Bank of New York Mellon in a research note on Wednesday. Morgan Stanley raised 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. Bank of America boosted their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Royal Bank of Canada restated a “sector perform” rating and issued a $58.00 price objective on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Finally, Jefferies Financial Group upped 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 research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.15.

Bank of New York Mellon Trading Down 0.0 %

The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a market capitalization of $45.22 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.20 and a beta of 1.09. The business has a fifty day simple moving average of $58.69 and a 200 day simple moving average of $56.25.

Bank of New York Mellon (NYSE:BK) last announced its earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.13 EPS. As a group, research analysts expect that The Bank of New York Mellon Co. will post 5.47 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.78%. Bank of New York Mellon’s dividend payout ratio is 40.98%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of Bank of New York Mellon stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Bank of New York Mellon news, VP Catherine Keating sold 54,070 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the sale, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the sale, the executive vice president now directly owns 100,404 shares in the company, valued at approximately $5,637,684.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,928 shares of company stock valued at $6,475,216. 0.14% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bank of New York Mellon

Institutional investors have recently added to or reduced their stakes in the business. United Services Automobile Association increased its stake in shares of Bank of New York Mellon by 6.9% in the fourth quarter. United Services Automobile Association now owns 25,447 shares of the bank’s stock valued at $1,325,000 after buying an additional 1,640 shares during the period. Searle & CO. acquired a new stake in Bank of New York Mellon during the 4th quarter valued at approximately $234,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Bank of New York Mellon by 22.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 222,781 shares of the bank’s stock worth $11,596,000 after purchasing an additional 40,969 shares during the last quarter. Janney Capital Management LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $243,000. Finally, Trust Point Inc. bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at $310,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Company Profile

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.