Bank Of New York Mellon Corporation (The) (NYSE:BK) CFO Thomas P. Gibbons sold 38,152 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the completion of the sale, the chief financial officer now directly owns 310,002 shares in the company, valued at approximately $16,786,608.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of Bank Of New York Mellon Corporation (BK) traded up $0.52 on Tuesday, hitting $54.97. 5,985,800 shares of the stock traded hands, compared to its average volume of 4,596,880. The stock has a market capitalization of $55,758.00, a P/E ratio of 15.69, a P/E/G ratio of 1.98 and a beta of 1.22. Bank Of New York Mellon Corporation has a 1-year low of $43.85 and a 1-year high of $55.40. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.85.

Bank Of New York Mellon (NYSE:BK) last released its quarterly earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.01. Bank Of New York Mellon had a net margin of 23.14% and a return on equity of 10.51%. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the business earned $0.90 EPS. The company’s revenue was up 1.9% compared to the same quarter last year. sell-side analysts forecast that Bank Of New York Mellon Corporation will post 3.54 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Tuesday, October 31st were given a dividend of $0.24 per share. The ex-dividend date was Monday, October 30th. This represents a $0.96 annualized dividend and a dividend yield of 1.75%. Bank Of New York Mellon’s payout ratio is 28.07%.

A number of institutional investors and hedge funds have recently modified their holdings of BK. Vanguard Group Inc. grew its position in shares of Bank Of New York Mellon by 1.6% during the second quarter. Vanguard Group Inc. now owns 67,420,467 shares of the bank’s stock worth $3,439,792,000 after buying an additional 1,071,088 shares in the last quarter. Berkshire Hathaway Inc. boosted its holdings in Bank Of New York Mellon by 52.2% in the second quarter. Berkshire Hathaway Inc. now owns 50,229,588 shares of the bank’s stock valued at $2,562,715,000 after purchasing an additional 17,217,529 shares in the last quarter. Capital International Investors boosted its holdings in Bank Of New York Mellon by 120.8% in the third quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock valued at $1,221,846,000 after purchasing an additional 12,607,183 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Bank Of New York Mellon by 1.4% in the third quarter. First Eagle Investment Management LLC now owns 19,753,288 shares of the bank’s stock valued at $1,047,319,000 after acquiring an additional 271,858 shares during the period. Finally, Longview Partners Guernsey LTD boosted its holdings in shares of Bank Of New York Mellon by 5.2% in the third quarter. Longview Partners Guernsey LTD now owns 17,381,984 shares of the bank’s stock valued at $921,593,000 after acquiring an additional 862,800 shares during the period. Hedge funds and other institutional investors own 82.83% of the company’s stock.

BK has been the topic of several research reports. Royal Bank Of Canada reiterated a “hold” rating and set a $58.00 price objective on shares of Bank Of New York Mellon in a report on Wednesday, November 15th. Credit Suisse Group reiterated a “hold” rating and issued a $55.00 price objective on shares of Bank Of New York Mellon in a research note on Tuesday, October 10th. Morgan Stanley increased their price objective on shares of Bank Of New York Mellon from $55.00 to $60.00 and gave the company an “equal weight” rating in a research note on Friday, October 20th. Jefferies Group reiterated a “hold” rating and issued a $56.00 price objective on shares of Bank Of New York Mellon in a research note on Friday, September 15th. Finally, Goldman Sachs Group reiterated a “buy” rating and issued a $58.00 price objective (up previously from $52.85) on shares of Bank Of New York Mellon in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $55.28.

TRADEMARK VIOLATION NOTICE: This article was originally published by American Banking News and is owned by of American Banking News. If you are viewing this article on another domain, it was copied illegally and republished in violation of international trademark & copyright legislation. The original version of this article can be accessed at https://www.americanbankingnews.com/2017/12/05/thomas-p-gibbons-sells-38152-shares-of-bank-of-new-york-mellon-corporation-the-bk-stock.html.

Bank Of New York Mellon 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 (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.