NEW YORK—Kurtis R. Kurimsky, the Corporate Controller at Bank of New York Mellon Corp (NYSE:BK), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Kurimsky sold 5,641 shares of common stock on April 14. The shares were sold at an average price of $77.505, resulting in a total transaction value of approximately $437,205. The sale comes as BNY Mellon trades at an attractive P/E ratio of 12.2, with InvestingPro analysis indicating the stock is currently undervalued.
Following this transaction, Kurimsky retains 21,679 shares of the company. The sale was conducted as a direct ownership transaction, indicating that Kurimsky acted on his own behalf. While this insider sale occurred, management has been actively buying back shares, demonstrating confidence in the company’s value.
Bank of New York Mellon Corp, a prominent player in the financial services industry with a market capitalization of $54.2 billion, is headquartered in New York City. The company has a long-standing history in state commercial banking and continues to play a significant role in the global financial landscape. Notable is its 55-year streak of maintaining dividend payments, with a current yield of 2.4%. For deeper insights into BNY Mellon’s financial health and growth prospects, investors can access comprehensive analysis through InvestingPro, which features additional exclusive tips and detailed metrics.
In other recent news, Bank of New York Mellon reported its first-quarter earnings for 2025, surpassing expectations with an earnings per share (EPS) of $1.58, higher than the forecasted $1.51. The company also exceeded revenue projections, achieving $4.79 billion against an anticipated $4.76 billion. JPMorgan reiterated its Overweight rating on the company, maintaining a price target of $87.00, highlighting a year-over-year improvement in core operating leverage and an increase in the company’s operating margin to 32.4%. Despite these positive developments, the Investment and Wealth Management segment faced challenges, with its operating margin declining to 8% from 13% the previous year. The company launched a new AI platform named "Eliza" to expand its AI capabilities, reflecting its focus on innovation. Analysts noted a seasonal dip in net interest income and a decrease in fee revenues, potentially influenced by current market conditions. Bank of New York Mellon anticipates mid-single-digit growth in net interest income for the full year 2025 and plans to maintain expense growth between 1-2%. Additionally, the company aims to return approximately 100% of its earnings to shareholders.
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