Bank Of New York Mellon Corporation (The) (NYSE:BK) Vice Chairman Thomas P. Gibbons sold 184,380 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $53.95, for a total transaction of $9,947,301.00. Following the sale, the insider now owns 455,927 shares of the company’s stock, valued at approximately $24,597,261.65. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Bank Of New York Mellon Corporation (NYSE BK) traded down 3.87% during mid-day trading on Thursday, hitting $51.95. 8,383,067 shares of the stock were exchanged. Bank Of New York Mellon Corporation has a 52 week low of $38.68 and a 52 week high of $54.59. The company has a 50 day moving average price of $52.28 and a 200 day moving average price of $48.41. The stock has a market cap of $53.67 billion, a price-to-earnings ratio of 15.41 and a beta of 1.15.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. The business had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.91 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. Bank Of New York Mellon Corporation (The)’s revenue was up .4% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. Analysts expect that Bank Of New York Mellon Corporation will post $3.53 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 11th. Investors of record on Tuesday, August 1st will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.85%. This is a positive change from Bank Of New York Mellon Corporation (The)’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, July 28th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is presently 28.40%.

Bank Of New York Mellon Corporation (The) declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $3.10 billion in shares. This repurchase authorization permits the bank to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

WARNING: “Thomas P. Gibbons Sells 184,380 Shares of Bank Of New York Mellon Corporation (The) (BK) Stock” was first posted by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this piece can be read at https://www.watchlistnews.com/thomas-p-gibbons-sells-184380-shares-of-bank-of-new-york-mellon-corporation-the-bk-stock/1469686.html.

BK has been the subject of a number of recent research reports. Rafferty Capital Markets reiterated a “buy” rating and set a $53.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 25th. Bank of America Corporation reiterated an “underperform” rating and set a $49.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Friday, May 26th. BidaskClub cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Deutsche Bank AG upped their price objective on shares of Bank Of New York Mellon Corporation (The) from $58.00 to $60.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $53.12.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bronfman E.L. Rothschild L.P. raised its position in shares of Bank Of New York Mellon Corporation (The) by 4.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock worth $104,000 after buying an additional 92 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $111,000. First Interstate Bank raised its position in shares of Bank Of New York Mellon Corporation (The) by 56.2% in the second quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after buying an additional 842 shares during the last quarter. Hudock Capital Group LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. Hudock Capital Group LLC now owns 2,549 shares of the bank’s stock worth $120,000 after buying an additional 7 shares during the last quarter. Finally, QCI Asset Management Inc. NY purchased a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth approximately $125,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

About Bank Of New York Mellon Corporation (The)

The Bank of New York Mellon Corporation 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 the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Insider Buying and Selling by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

Receive News & Ratings for Bank Of New York Mellon Corporation (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank Of New York Mellon Corporation (The) and related companies with Analyst Ratings Network's FREE daily email newsletter.