The Bank Of New York Mellon Corp. Announces Quarterly Dividend of $0.19 (BK)

The Bank Of New York Mellon Corp. Announces Quarterly Dividend of $0.19 (BK)

Bank Of New York Mellon Corp. (NYSE:BK) declared a quarterly dividend on Thursday, January 19th. Stockholders of record on Tuesday, January 31st will be paid a dividend of 0.19 per share on Friday, February 10th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.64%.

Bank Of New York Mellon Corp. (NYSE:BK) opened at 46.23 on Thursday. The firm has a market capitalization of $48.88 billion, a price-to-earnings ratio of 15.64 and a beta of 1.30. Bank Of New York Mellon Corp. has a 12 month low of $32.20 and a 12 month high of $49.54. The stock’s 50 day moving average is $47.83 and its 200-day moving average is $42.95.

Bank Of New York Mellon Corp. (NYSE:BK) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.09. Bank Of New York Mellon Corp. had a net margin of 21.65% and a return on equity of 9.66%. The business had revenue of $3.93 billion for the quarter, compared to analyst estimates of $3.86 billion. During the same period last year, the firm earned $0.74 earnings per share. Bank Of New York Mellon Corp.’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities analysts anticipate that Bank Of New York Mellon Corp. will post $3.17 earnings per share for the current fiscal year.

A number of equities analysts recently commented on BK shares. Barclays PLC reaffirmed a “buy” rating and set a $48.00 price target on shares of Bank Of New York Mellon Corp. in a research report on Wednesday, November 9th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $54.00 price target (up from $50.00) on shares of Bank Of New York Mellon Corp. in a research report on Wednesday, November 30th. raised their price target on shares of Bank Of New York Mellon Corp. from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, September 23rd. Deutsche Bank AG reaffirmed a “buy” rating on shares of Bank Of New York Mellon Corp. in a research report on Friday, October 21st. Finally, JPMorgan Chase & Co. lowered shares of Bank Of New York Mellon Corp. from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $47.50 to $49.00 in a research report on Friday, January 6th. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $49.50.

In related news, Vice Chairman Thomas P. Gibbons sold 79,022 shares of Bank Of New York Mellon Corp. stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $43.20, for a total transaction of $3,413,750.40. Following the sale, the insider now directly owns 439,610 shares in the company, valued at approximately $18,991,152. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gerald L. Hassell sold 40,000 shares of Bank Of New York Mellon Corp. stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $34.35, for a total transaction of $1,374,000.00. Following the sale, the chief executive officer now owns 1,003,176 shares in the company, valued at $34,459,095.60. The disclosure for this sale can be found here. Corporate insiders own 3.40% of the company’s stock.

A number of large investors have recently bought and sold shares of BK. Parsons Capital Management Inc. RI increased its position in shares of Bank Of New York Mellon Corp. by 0.4% in the second quarter. Parsons Capital Management Inc. RI now owns 51,599 shares of the company’s stock worth $2,005,000 after buying an additional 195 shares during the period. Marco Investment Management LLC increased its position in shares of Bank Of New York Mellon Corp. by 0.3% in the second quarter. Marco Investment Management LLC now owns 64,700 shares of the company’s stock worth $2,514,000 after buying an additional 200 shares during the period. Ancora Advisors LLC increased its position in shares of Bank Of New York Mellon Corp. by 0.5% in the second quarter. Ancora Advisors LLC now owns 37,066 shares of the company’s stock worth $1,440,000 after buying an additional 200 shares during the period. Peapack Gladstone Financial Corp increased its position in shares of Bank Of New York Mellon Corp. by 2.6% in the second quarter. Peapack Gladstone Financial Corp now owns 9,818 shares of the company’s stock worth $381,000 after buying an additional 251 shares during the period. Finally, National Asset Management Inc. increased its position in shares of Bank Of New York Mellon Corp. by 1.4% in the second quarter. National Asset Management Inc. now owns 19,983 shares of the company’s stock worth $538,000 after buying an additional 274 shares during the period. Institutional investors and hedge funds own 80.24% of the company’s stock.

Bank Of New York Mellon Corp. Company Profile

The Bank of New York Mellon Corporation (BNY Mellon) is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead.

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