The Bank of New York Mellon Co. (NYSE:BK) VP Senthilkumar Santhanakrishnan Sells 15,643 Shares of Stock

The Bank of New York Mellon Co. (NYSE:BK) VP Senthilkumar Santhanakrishnan sold 15,643 shares of Bank of New York Mellon stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares in the company, valued at approximately $8,343,165.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Bank of New York Mellon Stock Performance

NYSE BK opened at $58.35 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.72 and a debt-to-equity ratio of 0.90. The company has a fifty day simple moving average of $56.28 and a 200 day simple moving average of $52.68. The Bank of New York Mellon Co. has a 12-month low of $39.65 and a 12-month high of $58.52. The company has a market cap of $43.93 billion, a P/E ratio of 14.23, a PEG ratio of 1.23 and a beta of 1.11.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.19 by $0.10. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The company had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts predict that The Bank of New York Mellon Co. will post 5.43 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Investors of record on Friday, April 26th were issued a dividend of $0.42 per share. The ex-dividend date was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a yield of 2.88%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates grew its stake in Bank of New York Mellon by 5.9% during the third quarter. Raymond James & Associates now owns 470,999 shares of the bank’s stock valued at $20,088,000 after acquiring an additional 26,219 shares in the last quarter. Advisor Partners II LLC increased its position in Bank of New York Mellon by 5.0% during the 3rd quarter. Advisor Partners II LLC now owns 29,559 shares of the bank’s stock valued at $1,261,000 after purchasing an additional 1,412 shares during the period. TD Asset Management Inc lifted its holdings in Bank of New York Mellon by 0.5% in the third quarter. TD Asset Management Inc now owns 251,208 shares of the bank’s stock worth $10,714,000 after buying an additional 1,145 shares during the period. TIAA Trust National Association purchased a new position in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $1,137,000. Finally, ING Groep NV purchased a new stake in shares of Bank of New York Mellon in the 3rd quarter worth approximately $312,000. 85.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on BK shares. Citigroup increased their price target on 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $58.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Morgan Stanley upped their price objective on Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Bank of America lifted their price target on Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group increased their price target on Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $60.17.

About Bank of New York Mellon

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.