Bitcoin price today: slips below $113k, near 6-wk low despite Fed cut bets
In a recent transaction, Catherine Keating, Senior Executive Vice President at Bank of New York Mellon Corp (NYSE:BK), sold a significant portion of company stock. According to the SEC filing, Keating disposed of 65,473 shares of common stock on April 14, 2025. The $54.2 billion financial institution currently maintains a "GOOD" financial health score according to InvestingPro analysis, with management actively pursuing share buybacks. The shares were sold at a weighted average price of $77.309, with the actual sale prices ranging from $77.260 to $77.380. This transaction amounted to a total value of approximately $5.06 million. Following this sale, Keating retains ownership of 87,542 shares in the company. The stock, which has maintained dividend payments for 55 consecutive years and currently yields 2.4%, appears undervalued according to InvestingPro’s Fair Value analysis. For deeper insights into insider trading patterns and 8+ additional ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Bank of New York Mellon reported impressive financial results for the first quarter of 2025, exceeding market expectations. The company posted earnings per share of $1.58, surpassing the forecasted $1.51, and recorded a revenue of $4.79 billion, slightly above the anticipated $4.76 billion. This performance marks a 26% year-over-year increase in earnings per share and a 6% rise in revenue. The company’s Markets and Wealth Services segment saw significant growth with operating margins reaching 49%, while the Securities Services segment achieved a 30% core operating margin. However, the Investment and Wealth Management segment faced challenges, with its operating margin dropping to 8% from 13% the previous year. Despite these challenges, JPMorgan reiterated its Overweight rating on Bank of New York Mellon, maintaining a price target of $87.00. The bank also launched a new AI platform, "Eliza," to enhance its technological capabilities. These developments reflect Bank of New York Mellon’s strategic focus on innovation and efficiency amidst a challenging macroeconomic environment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.