Bank of New York Mellon Corp (NYSE:BK) declared a quarterly dividend on Friday, October 16th, RTT News reports. Investors of record on Wednesday, October 28th will be given a dividend of 0.31 per share by the bank on Tuesday, November 10th. This represents a $1.24 annualized dividend and a yield of 3.26%. The ex-dividend date of this dividend is Tuesday, October 27th.
Bank of New York Mellon has raised its dividend payment by 63.9% over the last three years and has increased its dividend every year for the last 4 years.
NYSE BK opened at $38.02 on Friday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.68 and a quick ratio of 0.68. Bank of New York Mellon has a 1 year low of $26.40 and a 1 year high of $51.60. The company has a market capitalization of $33.68 billion, a PE ratio of 8.18, a P/E/G ratio of 1.20 and a beta of 1.04. The company has a fifty day moving average of $35.87 and a two-hundred day moving average of $36.47.
Several equities analysts have issued reports on the stock. Bank of America upped their price objective on shares of Bank of New York Mellon from $40.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, July 10th. Seaport Global Securities initiated coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 8th. They set a “buy” rating and a $51.00 target price for the company. Citigroup decreased their target price on shares of Bank of New York Mellon from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, July 17th. ValuEngine upgraded shares of Bank of New York Mellon from a “strong sell” rating to a “sell” rating in a research note on Monday, July 20th. Finally, UBS Group decreased their target price on shares of Bank of New York Mellon from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Tuesday, October 6th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the company. Bank of New York Mellon presently has an average rating of “Hold” and an average price target of $44.56.
In related news, EVP Mitchell E. Harris sold 35,000 shares of the stock in a transaction dated Wednesday, July 22nd. The shares were sold at an average price of $35.75, for a total transaction of $1,251,250.00. Following the completion of the transaction, the executive vice president now directly owns 145,425 shares of the company’s stock, valued at $5,198,943.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.12% of the company’s stock.
About Bank of New York Mellon
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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