Investors Sell Shares of Bank Of New York Mellon Corp. (BK) on Strength (BK)
Traders sold shares of Bank Of New York Mellon Corp. (NYSE:BK) on strength during trading hours on Tuesday. $12.62 million flowed into the stock on the tick-up and $36.39 million flowed out of the stock on the tick-down, for a money net flow of $23.77 million out of the stock. Of all equities tracked, Bank Of New York Mellon Corp. had the 0th highest net out-flow for the day. Bank Of New York Mellon Corp. traded up $0.45 for the day and closed at $41.71
BK has been the topic of a number of recent research reports. Barclays PLC restated a “buy” rating on shares of Bank Of New York Mellon Corp. in a report on Saturday, July 9th. Deutsche Bank AG lifted their target price on Bank Of New York Mellon Corp. from $49.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, May 27th. Buckingham Research restated a “buy” rating on shares of Bank Of New York Mellon Corp. in a report on Tuesday, June 21st. JPMorgan Chase & Co. restated a “buy” rating and issued a $42.50 target price on shares of Bank Of New York Mellon Corp. in a report on Thursday, June 9th. Finally, Jefferies Group decreased their target price on Bank Of New York Mellon Corp. from $41.00 to $38.00 and set a “hold” rating on the stock in a report on Monday, July 11th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $44.80.
The firm has a 50 day moving average price of $39.90 and a 200 day moving average price of $39.02. The company has a market capitalization of $44.53 billion and a P/E ratio of 14.96.
Bank Of New York Mellon Corp. (NYSE:BK) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.01. The business earned $3.78 billion during the quarter, compared to the consensus estimate of $3.79 billion. During the same period in the prior year, the firm earned $0.73 EPS. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. Equities analysts expect that Bank Of New York Mellon Corp. will post $3.03 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Tuesday, August 2nd were issued a $0.19 dividend. The ex-dividend date was Friday, July 29th. This represents a $0.76 annualized dividend and a yield of 1.82%.
In other news, Director Trian Fund Management, L.P. bought 370,000 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were acquired at an average price of $42.39 per share, for a total transaction of $15,684,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A hedge fund recently raised its stake in Bank Of New York Mellon Corp. stock. Dimensional Fund Advisors LP boosted its stake in shares of Bank Of New York Mellon Corp. (NYSE:BK) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,603,716 shares of the company’s stock after buying an additional 174,940 shares during the period. Dimensional Fund Advisors LP owned about 0.61% of Bank Of New York Mellon Corp. worth $272,206,000 at the end of the most recent reporting period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.