The Bank of New York Mellon Co. Announces Quarterly Dividend of $0.17 (BK)
The Bank of New York Mellon (NYSE:BK) announced a quarterly dividend on Monday, April 7th, AnalystRatings.Net reports. Investors of record on Friday, April 25th will be paid a dividend of 0.17 per share on Wednesday, May 7th. This represents a $0.68 annualized dividend and a dividend yield of 2.01%.
A number of analysts have recently weighed in on BK shares. Analysts at UBS AG downgraded shares of The Bank of New York Mellon from a “neutral” rating to a “buy” rating in a research note on Tuesday, March 11th. They now have a $38.00 price target on the stock, up previously from $33.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of The Bank of New York Mellon in a research note on Wednesday, March 5th. They now have a $34.00 price target on the stock. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $34.95.
The Bank of New York Mellon (NYSE:BK) traded down 2.25% during mid-day trading on Monday, hitting $33.82. 5,959,032 shares of the company’s stock traded hands. The Bank of New York Mellon has a 1-year low of $26.64 and a 1-year high of $35.88. The stock has a 50-day moving average of $33.34 and a 200-day moving average of $32.69. The company has a market cap of $38.387 billion and a P/E ratio of 19.89. The Bank of New York Mellon also was the target of a large growth in short interest in January. As of March 14th, there was short interest totalling 10,122,395 shares, a growth of 49.2% from the February 28th total of 6,782,851 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 6,283,848 shares, the days-to-cover ratio is presently 1.6 days.
The Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Friday, January 17th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.54 by $0.10. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company posted $0.53 earnings per share. Analysts expect that The Bank of New York Mellon will post $2.40 EPS for the current fiscal year.
The Bank of New York Mellon Corporation (NYSE:BK) is a global financial services company.
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