The Bank of New York Mellon Co. (NYSE:BK) Short Interest Update

The Bank of New York Mellon Co. (NYSE:BK) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totalling 6,660,000 shares, a decline of 5.8% from the March 31st total of 7,070,000 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 3,770,000 shares, the days-to-cover ratio is currently 1.8 days.

Insider Buying and Selling at Bank of New York Mellon

In other news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Catherine Keating sold 4,498 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $54.81, for a total value of $246,535.38. Following the completion of the sale, the vice president now directly owns 123,490 shares in the company, valued at approximately $6,768,486.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP J Kevin Mccarthy sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $56.15, for a total transaction of $2,246,000.00. Following the completion of the sale, the executive vice president now owns 100,404 shares of the company’s stock, valued at $5,637,684.60. The disclosure for this sale can be found here. Insiders sold a total of 98,568 shares of company stock worth $5,459,897 over the last three months. 0.14% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BK. Wetzel Investment Advisors Inc. increased its stake in Bank of New York Mellon by 82.1% during the 1st quarter. Wetzel Investment Advisors Inc. now owns 510 shares of the bank’s stock valued at $28,000 after purchasing an additional 230 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at about $28,000. Able Wealth Management LLC bought a new stake in Bank of New York Mellon during the 4th quarter valued at about $32,000. Kathleen S. Wright Associates Inc. bought a new stake in Bank of New York Mellon during the 1st quarter valued at about $32,000. Finally, Hartford Financial Management Inc. increased its stake in Bank of New York Mellon by 41.4% during the 4th quarter. Hartford Financial Management Inc. now owns 625 shares of the bank’s stock valued at $33,000 after purchasing an additional 183 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Stock Down 0.1 %

Shares of Bank of New York Mellon stock opened at $56.46 on Thursday. The company’s fifty day simple moving average is $56.11 and its two-hundred day simple moving average is $52.16. The company has a market cap of $42.51 billion, a P/E ratio of 13.77, a PEG ratio of 1.21 and a beta of 1.11. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. Bank of New York Mellon has a 12-month low of $39.65 and a 12-month high of $58.28.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Tuesday, April 16th. The bank reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. The company had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. Bank of New York Mellon’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. Research analysts anticipate that Bank of New York Mellon will post 5.43 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Friday, April 26th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.68 annualized dividend and a dividend yield of 2.98%. Bank of New York Mellon’s payout ratio is 40.98%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BK shares. Jefferies Financial Group upped their price target on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Evercore ISI upped their price target on shares of Bank of New York Mellon from $57.00 to $61.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. UBS Group upped their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, January 9th. Citigroup upped their price target on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, February 14th. Finally, Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $60.17.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.