Bank Of New York Mellon Corporation (The) (NYSE:BK) Director Edward P. Garden sold 1,031,157 shares of Bank Of New York Mellon Corporation (The) stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $53.13, for a total transaction of $54,785,371.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Bank Of New York Mellon Corporation (BK) traded up 0.70% on Tuesday, hitting $52.88. The company had a trading volume of 4,447,837 shares. Bank Of New York Mellon Corporation has a 1-year low of $41.93 and a 1-year high of $55.29. The firm has a market capitalization of $54.63 billion, a price-to-earnings ratio of 15.68 and a beta of 1.15. The company has a 50 day moving average price of $52.86 and a 200 day moving average price of $50.74.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.51% and a net margin of 23.14%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, equities analysts forecast that Bank Of New York Mellon Corporation will post $3.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Tuesday, October 31st will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Monday, October 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.82%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is presently 28.07%.

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

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Several institutional investors have recently made changes to their positions in BK. Hudock Capital Group LLC grew its position in Bank Of New York Mellon Corporation (The) by 0.3% during the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after acquiring an additional 7 shares during the last quarter. Kistler Tiffany Companies LLC lifted its holdings in Bank Of New York Mellon Corporation (The) by 0.3% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock worth $212,000 after buying an additional 12 shares during the period. CHICAGO TRUST Co NA lifted its holdings in Bank Of New York Mellon Corporation (The) by 0.5% in the 2nd quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock worth $307,000 after buying an additional 29 shares during the period. Cpcm LLC lifted its holdings in Bank Of New York Mellon Corporation (The) by 0.4% in the 1st quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock worth $458,000 after buying an additional 35 shares during the period. Finally, First Bank & Trust lifted its holdings in Bank Of New York Mellon Corporation (The) by 1.1% in the 2nd quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock worth $245,000 after buying an additional 52 shares during the period. Hedge funds and other institutional investors own 81.82% of the company’s stock.

A number of brokerages have recently weighed in on BK. Zacks Investment Research cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Wednesday, October 11th. Citigroup Inc. reaffirmed a “neutral” rating and set a $56.00 target price (up previously from $53.00) on shares of Bank Of New York Mellon Corporation (The) in a research report on Monday, October 9th. Credit Suisse Group reaffirmed a “hold” rating and set a $55.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, October 10th. Wells Fargo & Company assumed coverage on shares of Bank Of New York Mellon Corporation (The) in a research report on Wednesday, August 9th. They set a “market perform” rating and a $55.00 target price on the stock. Finally, BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research report on Sunday, August 6th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $55.28.

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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