The Bank of New York Mellon Co. (NYSE:BK) to Issue Quarterly Dividend of $0.47

The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) announced a quarterly dividend on Monday, April 14th, Wall Street Journal reports. Investors of record on Monday, April 21st will be paid a dividend of 0.47 per share by the bank on Friday, May 2nd. This represents a $1.88 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Monday, April 21st.

Bank of New York Mellon has increased its dividend payment by an average of 11.2% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Bank of New York Mellon has a payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 0.7 %

Shares of BK stock traded up $0.52 on Friday, hitting $76.25. The stock had a trading volume of 4,317,948 shares, compared to its average volume of 3,961,482. The stock's 50 day moving average is $82.72 and its 200-day moving average is $80.29. The firm has a market capitalization of $54.75 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 0.97 and a beta of 1.03. Bank of New York Mellon has a 52-week low of $55.42 and a 52-week high of $90.34. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.08. Bank of New York Mellon had a return on equity of 12.68% and a net margin of 11.35%. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.76 billion. During the same period in the previous year, the company earned $1.29 earnings per share. The company's revenue for the quarter was up 5.9% compared to the same quarter last year. As a group, research analysts expect that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wolfe Research downgraded shares of Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research note on Friday, January 3rd. Bank of America lifted their price target on Bank of New York Mellon from $90.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Morgan Stanley cut their price objective on Bank of New York Mellon from $99.00 to $98.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. StockNews.com lowered Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Finally, Barclays upped their price target on Bank of New York Mellon from $102.00 to $104.00 and gave the company an "overweight" rating in a research report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.64.

Insider Transactions at Bank of New York Mellon

In related news, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the sale, the vice president now owns 87,542 shares of the company's stock, valued at $6,767,872.02. The trade was a 42.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurtis R. Kurimsky sold 5,641 shares of the stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.50, for a total value of $437,177.50. Following the transaction, the insider now directly owns 21,679 shares of the company's stock, valued at approximately $1,680,122.50. The trade was a 20.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Bank of New York Mellon stock. Revolve Wealth Partners LLC acquired a new position in The Bank of New York Mellon Co. (NYSE:BK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,858 shares of the bank's stock, valued at approximately $220,000. Institutional investors own 85.31% of the company's stock.

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.