The Bank of New York Mellon Corporation Declares Quarterly Dividend of $0.53 (NYSE:BK)

Key Points

• The Bank of New York Mellon Corporation has declared a quarterly dividend of $0.53 per share, with the payout set for November 7th for shareholders on record by October 27th.
• The bank has a healthy payout ratio of 24.8%, indicating earnings are sufficient to cover its annual dividend of $1.88.
• Recent trading saw Bank of New York Mellon shares fall to $106.71, while the company's market capitalization stands at $75.26 billion.

The Bank of New York Mellon Corporation (NYSE:BK - Get Free Report) announced a quarterly dividend on Thursday, October 16th. Shareholders of record on Monday, October 27th will be given a dividend of 0.53 per share by the bank on Friday, November 7th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend is Monday, October 27th.

Bank of New York Mellon has a payout ratio of 24.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Bank of New York Mellon to earn $7.83 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 24.0%.

Bank of New York Mellon Price Performance

Shares of NYSE:BK traded down $2.22 on Thursday, hitting $106.71. The stock had a trading volume of 6,858,237 shares, compared to its average volume of 4,015,992. Bank of New York Mellon has a twelve month low of $70.46 and a twelve month high of $110.87. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The firm's 50 day moving average price is $105.45 and its 200-day moving average price is $94.16. The company has a market capitalization of $75.26 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 1.00 and a beta of 1.13.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings data on Tuesday, March 26th. The bank reported $1.30 earnings per share for the quarter. The firm had revenue of $4.38 billion during the quarter. Bank of New York Mellon had a return on equity of 13.46% and a net margin of 12.27%. On average, equities research analysts predict that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 20,000 shares of the stock in a transaction 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 approximately $3,457,071.75. This represents a 36.29% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bank of New York Mellon

Large investors have recently modified their holdings of the company. Norges Bank purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $1,081,847,000. Nuveen LLC purchased a new position in Bank of New York Mellon in the 1st quarter worth approximately $773,627,000. Qube Research & Technologies Ltd purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $135,728,000. AustralianSuper Pty Ltd purchased a new position in Bank of New York Mellon in the 1st quarter worth approximately $92,502,000. Finally, Goldman Sachs Group Inc. increased its stake in Bank of New York Mellon by 26.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 5,053,744 shares of the bank's stock worth $423,858,000 after purchasing an additional 1,052,145 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

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.

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