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

The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 31st, there was short interest totalling 8,660,000 shares, a decrease of 15.0% from the March 15th total of 10,190,000 shares. Approximately 1.2% of the company's shares are short sold. Based on an average daily volume of 4,450,000 shares, the short-interest ratio is presently 1.9 days.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price target on Bank of New York Mellon from $86.00 to $96.00 and gave the stock an "equal weight" rating in a research note on Monday, March 3rd. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Bank of New York Mellon from $94.00 to $98.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Truist Financial decreased their target price on shares of Bank of New York Mellon from $90.00 to $87.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, Evercore ISI boosted their price target on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.31.

Bank of New York Mellon Stock Performance

NYSE BK traded down $0.05 during trading hours on Friday, hitting $78.67. The company's stock had a trading volume of 2,507,972 shares, compared to its average volume of 3,965,036. Bank of New York Mellon has a 12 month low of $56.08 and a 12 month high of $90.34. The company's 50 day simple moving average is $81.68 and its two-hundred day simple moving average is $80.47. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The company has a market cap of $56.48 billion, a P/E ratio of 13.54, a price-to-earnings-growth ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business's revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.29 earnings per share. As a group, sell-side analysts expect that Bank of New York Mellon will post 6.96 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be paid a $0.47 dividend. The ex-dividend date is Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.39%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 30.62%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now directly owns 87,542 shares of the company's stock, valued at approximately $6,767,872.02. The trade was a 42.79 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. This represents a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by corporate insiders.

Institutional Trading of Bank of New York Mellon

Several large investors have recently modified their holdings of BK. McIlrath & Eck LLC increased its position in shares of Bank of New York Mellon by 3.8% during the 3rd quarter. McIlrath & Eck LLC now owns 6,860 shares of the bank's stock valued at $493,000 after purchasing an additional 254 shares during the last quarter. SkyView Investment Advisors LLC grew its position in Bank of New York Mellon by 3.6% during the third quarter. SkyView Investment Advisors LLC now owns 9,814 shares of the bank's stock valued at $705,000 after buying an additional 345 shares during the period. World Investment Advisors LLC purchased a new stake in Bank of New York Mellon during the third quarter valued at approximately $2,617,000. Wilmington Savings Fund Society FSB raised its position in Bank of New York Mellon by 340.8% in the third quarter. Wilmington Savings Fund Society FSB now owns 27,991 shares of the bank's stock worth $2,011,000 after acquiring an additional 21,641 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Bank of New York Mellon by 7.1% during the 3rd quarter. Tidal Investments LLC now owns 33,764 shares of the bank's stock worth $2,426,000 after acquiring an additional 2,240 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

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.