The Bank of New York Mellon Co. (BK) To Go Ex-Dividend on April 25th

The Bank of New York Mellon Co. (NYSE:BK) declared a quarterly dividend on Tuesday, April 16th, RTT News reports. Shareholders of record on Friday, April 26th will be paid a dividend of 0.42 per share by the bank on Thursday, May 9th. This represents a $1.68 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend is Thursday, April 25th.

Bank of New York Mellon has raised its dividend payment by an average of 8.4% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Bank of New York Mellon has a payout ratio of 28.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Bank of New York Mellon to earn $5.92 per share next year, which means the company should continue to be able to cover its $1.68 annual dividend with an expected future payout ratio of 28.4%.

Bank of New York Mellon Stock Up 0.9 %

Shares of NYSE BK opened at $54.47 on Thursday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.87. Bank of New York Mellon has a 12 month low of $39.65 and a 12 month high of $58.28. The firm has a market capitalization of $41.01 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.18 and a beta of 1.12. The firm has a fifty day simple moving average of $55.73 and a two-hundred day simple moving average of $51.10.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 10.01% and a return on equity of 11.63%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. Equities analysts expect that Bank of New York Mellon will post 5.33 earnings per share for the current year.

Insider Activity

In other news, VP Catherine Keating sold 4,498 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $54.81, for a total transaction of $246,535.38. Following the sale, the vice president now owns 123,490 shares of the company’s stock, valued at approximately $6,768,486.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Institutional Trading of Bank of New York Mellon

A number of institutional investors have recently made changes to their positions in the stock. SageView Advisory Group LLC bought a new stake in Bank of New York Mellon during the 4th quarter worth approximately $1,208,000. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $801,000. Public Employees Retirement System of Ohio raised its position in shares of Bank of New York Mellon by 2.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 396,948 shares of the bank’s stock valued at $20,661,000 after buying an additional 8,214 shares during the last quarter. Gould Capital LLC raised its position in shares of Bank of New York Mellon by 0.5% during the fourth quarter. Gould Capital LLC now owns 59,179 shares of the bank’s stock valued at $3,080,000 after buying an additional 299 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Bank of New York Mellon by 10.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 163,393 shares of the bank’s stock valued at $8,505,000 after buying an additional 14,794 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BK shares. Morgan Stanley upgraded shares of Bank of New York Mellon from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $52.00 to $62.00 in a research note on Tuesday, January 30th. UBS Group increased their price target on shares of Bank of New York Mellon from $54.00 to $62.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a research note on Wednesday, March 27th. Citigroup raised their price objective on shares of Bank of New York Mellon from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Bank of America raised their price objective on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $58.17.

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.