Trian Fund Management, L.P. Sells 5,798,725 Shares of Bank Of New York Mellon Corporation (The) (NYSE:BK) Stock

Bank Of New York Mellon Corporation (The) (NYSE:BK) Director Trian Fund Management, L.P. sold 5,798,725 shares of Bank Of New York Mellon Corporation (The) stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $52.42, for a total transaction of $303,969,164.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Trian Fund Management, L.P. also recently made the following trade(s):

  • On Wednesday, August 9th, Trian Fund Management, L.P. sold 10,000,000 shares of Bank Of New York Mellon Corporation (The) stock. The shares were sold at an average price of $53.09, for a total transaction of $530,900,000.00.

Bank Of New York Mellon Corporation (NYSE:BK) traded up $0.11 during trading on Friday, reaching $50.93. 3,552,400 shares of the company’s stock were exchanged, compared to its average volume of 4,567,572. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.69 and a quick ratio of 0.67. The firm has a market cap of $52,040.80, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. Bank Of New York Mellon Corporation has a 52-week low of $43.85 and a 52-week high of $55.29.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The company had revenue of $4.02 billion during the quarter, compared to analyst estimates of $3.99 billion. Bank Of New York Mellon Corporation (The) had a net margin of 23.14% and a return on equity of 10.51%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. research analysts anticipate that Bank Of New York Mellon Corporation will post 3.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 9th. Stockholders of record on Tuesday, October 31st were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Monday, October 30th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is currently 28.07%.

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Several large investors have recently modified their holdings of BK. Hudock Capital Group LLC lifted its stake in Bank Of New York Mellon Corporation (The) by 0.3% during the second quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock valued at $130,000 after purchasing an additional 7 shares during the last quarter. Kistler Tiffany Companies LLC lifted its stake in Bank Of New York Mellon Corporation (The) by 0.3% during the second quarter. Kistler Tiffany Companies LLC now owns 4,154 shares of the bank’s stock valued at $212,000 after purchasing an additional 12 shares during the last quarter. CHICAGO TRUST Co NA lifted its stake in Bank Of New York Mellon Corporation (The) by 0.5% during the second quarter. CHICAGO TRUST Co NA now owns 6,029 shares of the bank’s stock valued at $307,000 after purchasing an additional 29 shares during the last quarter. Cpcm LLC lifted its stake in Bank Of New York Mellon Corporation (The) by 0.4% during the first quarter. Cpcm LLC now owns 9,705 shares of the bank’s stock valued at $458,000 after purchasing an additional 35 shares during the last quarter. Finally, First Bank & Trust lifted its stake in Bank Of New York Mellon Corporation (The) by 1.1% during the second quarter. First Bank & Trust now owns 4,800 shares of the bank’s stock valued at $245,000 after purchasing an additional 52 shares during the last quarter. 82.83% of the stock is owned by institutional investors.

Several equities analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Citigroup Inc. reaffirmed a “neutral” rating and set a $56.00 price target (up previously from $53.00) on shares of Bank Of New York Mellon Corporation (The) in a research note on Monday, October 9th. Credit Suisse Group reaffirmed a “hold” rating and set a $55.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, October 10th. Wells Fargo & Company began coverage on shares of Bank Of New York Mellon Corporation (The) in a research note on Wednesday, August 9th. They set a “market perform” rating and a $55.00 price target on the stock. Finally, BidaskClub raised shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Bank Of New York Mellon Corporation (The) currently has a consensus rating of “Hold” and a consensus target price of $55.28.

About Bank Of New York Mellon Corporation (The)

The Bank of New York Mellon Corporation 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 the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Insider Buying and Selling by Quarter for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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