The Bank of New York Mellon Corporation (NYSE:BK) Announces Quarterly Dividend of $0.53

The Bank of New York Mellon Corporation (NYSE:BK) announced a quarterly dividend on Tuesday, January 13th. Stockholders of record on Friday, January 23rd will be given a dividend of 0.53 per share by the bank on Thursday, February 5th. This represents a c) dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, January 23rd.

Bank of New York Mellon has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Bank of New York Mellon has a dividend payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 $2.12 annual dividend with an expected future payout ratio of 27.1%.

Bank of New York Mellon Price Performance

Shares of NYSE BK traded up $2.18 during midday trading on Tuesday, reaching $122.84. 7,292,780 shares of the company were exchanged, compared to its average volume of 4,059,499. The stock has a market cap of $85.66 billion, a P/E ratio of 17.73, a PEG ratio of 0.92 and a beta of 1.11. Bank of New York Mellon has a one year low of $70.46 and a one year high of $123.01. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.83. The stock’s 50-day moving average price is $113.92 and its 200-day moving average price is $106.84.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Friday, October 31st. The bank reported $1.91 EPS for the quarter. The firm had revenue of $5.07 billion during the quarter. Bank of New York Mellon had a return on equity of 14.03% and a net margin of 12.86%. On average, sell-side analysts anticipate that Bank of New York Mellon will post 6.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bank of New York Mellon

Several institutional investors have recently added to or reduced their stakes in the business. Ransom Advisory Ltd raised its position in shares of Bank of New York Mellon by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank’s stock valued at $787,000 after purchasing an additional 85 shares during the period. Mather Group LLC. grew its stake in Bank of New York Mellon by 0.9% in the 4th quarter. Mather Group LLC. now owns 9,232 shares of the bank’s stock valued at $1,072,000 after buying an additional 86 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Bank of New York Mellon by 1.3% during the 3rd quarter. Valeo Financial Advisors LLC now owns 7,539 shares of the bank’s stock valued at $821,000 after acquiring an additional 94 shares during the period. Ferguson Wellman Capital Management Inc. raised its holdings in Bank of New York Mellon by 0.4% during the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 24,752 shares of the bank’s stock valued at $2,697,000 after acquiring an additional 96 shares during the period. Finally, Leonard Rickey Investment Advisors P.L.L.C. lifted its position in shares of Bank of New York Mellon by 1.9% during the third quarter. Leonard Rickey Investment Advisors P.L.L.C. now owns 5,192 shares of the bank’s stock worth $566,000 after acquiring an additional 98 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

About Bank of New York Mellon

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.