Traders Purchase High Volume of Put Options on Bank Of New York Mellon Corporation (The) (BK)

Bank Of New York Mellon Corporation (The) (NYSE:BK) was the recipient of unusually large options trading activity on Tuesday. Stock traders purchased 3,015 put options on the stock. This represents an increase of approximately 173% compared to the typical volume of 1,103 put options.

In other news, EVP J Kevin Mccarthy sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $47.64, for a total value of $476,400.00. Following the completion of the sale, the executive vice president now owns 100,487 shares in the company, valued at approximately $4,787,200.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Thomas P. Gibbons sold 102,174 shares of the firm’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $47.71, for a total transaction of $4,874,721.54. Following the completion of the sale, the insider now owns 271,416 shares of the company’s stock, valued at approximately $12,949,257.36. The disclosure for this sale can be found here. 3.60% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 3.0% in the first quarter. Vanguard Group Inc. now owns 66,349,379 shares of the bank’s stock valued at $3,133,681,000 after buying an additional 1,905,810 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 2,064.6% in the first quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock valued at $2,727,121,000 after buying an additional 55,073,730 shares in the last quarter. Dodge & Cox acquired a new stake in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter valued at about $2,352,702,000. State Street Corp boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 8.5% in the fourth quarter. State Street Corp now owns 49,205,956 shares of the bank’s stock valued at $2,331,384,000 after buying an additional 3,836,306 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Bank Of New York Mellon Corporation (The) by 11.6% in the first quarter. Geode Capital Management LLC now owns 10,413,009 shares of the bank’s stock valued at $491,122,000 after buying an additional 1,085,595 shares in the last quarter. 82.36% of the stock is currently owned by institutional investors.

Several research firms have recently issued reports on BK. BidaskClub upgraded shares of Bank Of New York Mellon Corporation (The) from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Bank of America Corporation set a $49.00 target price on shares of Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Saturday, May 27th. Jefferies Group LLC restated a “hold” rating and issued a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, April 11th. Rafferty Capital Markets restated a “buy” rating and issued a $53.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, April 25th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, April 4th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $50.93.

Bank Of New York Mellon Corporation (NYSE:BK) opened at 49.89 on Friday. The stock has a market cap of $51.88 billion, a P/E ratio of 15.35 and a beta of 1.17. Bank Of New York Mellon Corporation has a 52-week low of $35.72 and a 52-week high of $49.94. The firm’s 50-day moving average is $47.61 and its 200-day moving average is $47.20.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its earnings results on Thursday, April 20th. The bank reported $0.80 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.80. Bank Of New York Mellon Corporation (The) had a net margin of 23.12% and a return on equity of 9.97%. The company had revenue of $3.84 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the company posted $0.74 earnings per share. Bank Of New York Mellon Corporation (The)’s revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts predict that Bank Of New York Mellon Corporation will post $3.51 earnings per share for the current year.

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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.

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