The Bank of New York Mellon President Sells $3,904,631 in Stock (BK)
The Bank of New York Mellon (NYSE:BK) President Karen B. Peetz unloaded 115,351 shares of The Bank of New York Mellon stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $33.85, for a total transaction of $3,904,631.35. Following the sale, the president now directly owns 196,005 shares in the company, valued at approximately $6,634,769. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on BK shares. Analysts at Argus reiterated a “buy” rating on shares of The Bank of New York Mellon in a research note on Friday. Separately, analysts at Citigroup Inc. reiterated a “buy” rating on shares of The Bank of New York Mellon in a research note on Wednesday, April 23rd. They now have a $40.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “underweight” rating on shares of The Bank of New York Mellon in a research note on Wednesday, April 23rd. They now have a $35.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $35.50.
Shares of The Bank of New York Mellon (NYSE:BK) traded down 0.71% during mid-day trading on Monday, hitting $33.36. The stock had a trading volume of 4,867,647 shares. The Bank of New York Mellon has a 52 week low of $27.54 and a 52 week high of $35.88. The stock has a 50-day moving average of $34.11 and a 200-day moving average of $33.02. The company has a market cap of $37.865 billion and a price-to-earnings ratio of 19.31.
The Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.03. The company had revenue of $3.63 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same quarter last year, the company posted $0.50 earnings per share. The Bank of New York Mellon’s revenue was up .4% compared to the same quarter last year. On average, analysts predict that The Bank of New York Mellon will post $2.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, May 7th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, April 23rd. This is a boost from The Bank of New York Mellon’s previous quarterly dividend of $0.15.
The Bank of New York Mellon Corporation (NYSE:BK) is a global financial services company.
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