Bank Of New York Mellon Corporation (The) (NYSE:BK) Chairman Gerald L. Hassell sold 24,280 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $51.69, for a total transaction of $1,255,033.20. Following the sale, the chairman now directly owns 857,899 shares in the company, valued at approximately $44,344,799.31. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Bank Of New York Mellon Corporation (NYSE:BK) traded down $0.32 during trading on Friday, reaching $51.33. 5,547,411 shares of the company traded hands, compared to its average volume of 4,301,806. The firm has a market capitalization of $52.63 billion, a P/E ratio of 14.81 and a beta of 1.22.

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

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Shareholders of record on Tuesday, October 31st will be issued 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 yield of 1.87%. Bank Of New York Mellon Corporation (The)’s dividend payout ratio (DPR) is currently 28.07%.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/11/03/bank-of-new-york-mellon-corporation-the-bk-chairman-sells-1255033-20-in-stock.html.

Hedge funds have recently made changes to their positions in the business. First Interstate Bank raised its holdings in Bank Of New York Mellon Corporation (The) by 56.2% during the 2nd quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after buying an additional 842 shares during the period. Exane Derivatives acquired a new stake in shares of Bank Of New York Mellon Corporation (The) in the second quarter valued at approximately $130,000. Hudock Capital Group LLC raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after purchasing an additional 7 shares during the last quarter. Advisory Services Network LLC raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 15.5% in the second quarter. Advisory Services Network LLC now owns 2,712 shares of the bank’s stock valued at $138,000 after purchasing an additional 363 shares during the last quarter. Finally, Burt Wealth Advisors raised its holdings in shares of Bank Of New York Mellon Corporation (The) by 2,186.7% in the second quarter. Burt Wealth Advisors now owns 2,744 shares of the bank’s stock valued at $139,000 after purchasing an additional 2,624 shares during the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

Several brokerages have recently issued reports on BK. Wells Fargo & Company began coverage on shares of Bank Of New York Mellon Corporation (The) in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $55.00 target price on the stock. Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, October 20th. BidaskClub lowered shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research lowered shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $55.00 target price on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $55.28.

Bank Of New York Mellon Corporation (The) Company Profile

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)

Receive News & Ratings for Bank Of New York Mellon Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of New York Mellon Corporation (The) and related companies with MarketBeat.com's FREE daily email newsletter.