The Bank of New York Mellon Co. (NYSE:BK) Short Interest Down 15.0% in March

The Bank of New York Mellon Co. (NYSE:BK - Get Free Report) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totalling 8,660,000 shares, a decrease of 15.0% from the March 15th total of 10,190,000 shares. Based on an average daily trading volume, of 4,450,000 shares, the short-interest ratio is currently 1.9 days. Approximately 1.2% of the company's stock are sold short.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,641 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $77.50, for a total transaction of $437,177.50. Following the completion of the sale, the insider now directly owns 21,679 shares in the company, valued at $1,680,122.50. The trade was a 20.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the 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 completion of the transaction, the vice president now owns 87,542 shares in the company, valued at $6,767,872.02. This trade represents a 42.79 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Czech National Bank boosted its holdings in Bank of New York Mellon by 4.9% during the 4th quarter. Czech National Bank now owns 157,645 shares of the bank's stock valued at $12,112,000 after acquiring an additional 7,316 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in shares of Bank of New York Mellon by 11.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 786,496 shares of the bank's stock valued at $60,426,000 after purchasing an additional 82,671 shares during the period. Fifth Third Bancorp grew its holdings in shares of Bank of New York Mellon by 9.2% in the fourth quarter. Fifth Third Bancorp now owns 94,046 shares of the bank's stock worth $7,226,000 after purchasing an additional 7,935 shares during the last quarter. Natixis Advisors LLC increased its stake in Bank of New York Mellon by 6.5% in the 4th quarter. Natixis Advisors LLC now owns 285,965 shares of the bank's stock worth $21,971,000 after buying an additional 17,457 shares during the period. Finally, Western Financial Corp CA bought a new stake in Bank of New York Mellon during the 4th quarter valued at about $342,000. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Price Performance

Shares of BK stock traded up $1.43 during mid-day trading on Wednesday, hitting $77.74. The company had a trading volume of 3,764,119 shares, compared to its average volume of 3,961,325. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.70. The stock's 50 day moving average price is $82.08 and its 200-day moving average price is $80.39. Bank of New York Mellon has a 52-week low of $56.08 and a 52-week high of $90.34. The company has a market capitalization of $55.82 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.97 and a beta of 1.03.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings data on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $4.76 billion. During the same period in the prior year, the firm earned $1.29 EPS. The company's revenue for the quarter was up 5.9% on a year-over-year basis. Equities research analysts forecast that Bank of New York Mellon will post 6.96 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Monday, April 21st will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Monday, April 21st. Bank of New York Mellon's dividend payout ratio (DPR) is 30.62%.

Analyst Upgrades and Downgrades

BK has been the topic of several recent research reports. StockNews.com downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research report on Wednesday, February 19th. Barclays raised their target price on Bank of New York Mellon from $102.00 to $104.00 and gave the stock an "overweight" rating in a report on Thursday, January 16th. Wolfe Research downgraded Bank of New York Mellon from an "outperform" rating to a "peer perform" rating in a research report on Friday, January 3rd. Citigroup upped their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Finally, Bank of America lifted their price objective on Bank of New York Mellon from $90.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.31.

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.