Insider Selling: The Bank of New York Mellon Corporation (NYSE:BK) EVP Sells 20,000 Shares of Stock

The Bank of New York Mellon Corporation (NYSE:BK - Get Free Report) EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president owned 35,115 shares in the company, valued at $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

J Kevin Mccarthy also recently made the following trade(s):

• On Tuesday, April 29th, J Kevin Mccarthy sold 30,000 shares of Bank of New York Mellon stock. The stock was sold at an average price of $79.03, for a total transaction of $2,370,900.00.

Bank of New York Mellon Trading Up 1.0%

Shares of Bank of New York Mellon stock traded up $0.99 during trading on Friday, hitting $100.96. The stock had a trading volume of 4,123,316 shares, compared to its average volume of 4,583,163. The firm's fifty day simple moving average is $91.96 and its 200-day simple moving average is $85.99. The stock has a market cap of $72.23 billion, a PE ratio of 15.41, a PEG ratio of 0.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.69. The Bank of New York Mellon Corporation has a 12 month low of $60.93 and a 12 month high of $101.16.

Bank of New York Mellon (NYSE:BK - Get Free Report) last released its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.21. The firm had revenue of $4.77 billion during the quarter, compared to analyst estimates of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The business's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the business earned $1.51 EPS. As a group, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 7th. Investors of record on Friday, July 25th will be issued a dividend of $0.53 per share. This is a positive change from Bank of New York Mellon's previous quarterly dividend of $0.47. The ex-dividend date is Friday, July 25th. This represents a $2.12 dividend on an annualized basis and a yield of 2.10%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 28.70%.

Institutional Investors Weigh In On Bank of New York Mellon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parvin Asset Management LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at about $25,000. Alpine Bank Wealth Management bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at about $25,000. Bellwether Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $28,000. Finally, REAP Financial Group LLC grew its position in shares of Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after buying an additional 218 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on BK shares. Truist Financial increased their price objective on shares of Bank of New York Mellon from $97.00 to $100.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. Evercore ISI raised their target price on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an "in-line" rating in a research note on Wednesday, July 2nd. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the company an "outperform" rating in a research note on Wednesday, July 16th. Finally, Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 16th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $94.38.

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.