Bank Of New York Mellon Corporation (The) (NYSE:BK) Chairman Gerald L. Hassell sold 700,719 shares of Bank Of New York Mellon Corporation (The) stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $53.91, for a total value of $37,775,761.29. Following the completion of the sale, the chairman now owns 1,253,522 shares of the company’s stock, valued at $67,577,371.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Bank Of New York Mellon Corporation (NYSE:BK) traded up 0.15% on Tuesday, reaching $53.79. The company’s stock had a trading volume of 3,007,120 shares. The company’s 50 day moving average price is $51.95 and its 200-day moving average price is $48.21. Bank Of New York Mellon Corporation has a 12-month low of $38.68 and a 12-month high of $54.59. The stock has a market cap of $55.57 billion, a PE ratio of 15.95 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.04. The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. Bank Of New York Mellon Corporation (The)’s quarterly revenue was up .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. On average, equities analysts expect that Bank Of New York Mellon Corporation will post $3.53 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Tuesday, August 1st will be given a dividend of $0.24 per share. The ex-dividend date is Friday, July 28th. This is an increase from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a yield of 1.78%. Bank Of New York Mellon Corporation (The)’s payout ratio is 28.40%.

Bank Of New York Mellon Corporation (The) declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $3.10 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 5.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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A number of equities research analysts have commented on BK shares. Rafferty Capital Markets reissued a “buy” rating and issued a $53.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 25th. Bank of America Corporation reissued an “underperform” rating and issued a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, May 26th. BidaskClub cut Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Deutsche Bank AG raised their price objective on Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the company a “buy” rating in a research note on Friday, July 21st. Finally, Royal Bank Of Canada reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $53.00.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Bank Of New York Mellon Corporation (The) by 3.0% in the first quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock valued at $3,133,681,000 after buying an additional 1,905,810 shares during the period. BlackRock Inc. increased its position in Bank Of New York Mellon Corporation (The) by 2,064.6% in the first quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock valued at $2,727,121,000 after buying an additional 55,073,730 shares during the period. Longview Partners Guernsey LTD increased its position in Bank Of New York Mellon Corporation (The) by 4.6% in the second quarter. Longview Partners Guernsey LTD now owns 16,519,184 shares of the bank’s stock valued at $842,809,000 after buying an additional 726,898 shares during the period. Geode Capital Management LLC increased its position in Bank Of New York Mellon Corporation (The) by 11.6% in the first quarter. Geode Capital Management LLC now owns 10,413,009 shares of the bank’s stock valued at $491,122,000 after buying an additional 1,085,595 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Bank Of New York Mellon Corporation (The) by 8.6% in the first quarter. JPMorgan Chase & Co. now owns 9,807,053 shares of the bank’s stock valued at $463,187,000 after buying an additional 780,125 shares during the period. Institutional investors own 82.44% of the company’s stock.

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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