Avise Financial Cooperative Inc. Takes $630,000 Position in Bank of New York Mellon Corporation $BNY

Avise Financial Cooperative Inc. acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 5,431 shares of the bank’s stock, valued at approximately $630,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at $27,000. Marquette Asset Management LLC boosted its stake in shares of Bank of New York Mellon by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of Bank of New York Mellon by 44.1% in the 3rd quarter. Westside Investment Management Inc. now owns 415 shares of the bank’s stock worth $45,000 after acquiring an additional 127 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $46,000. Finally, Dunhill Financial LLC raised its position in shares of Bank of New York Mellon by 130.8% during the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after purchasing an additional 242 shares during the period. Institutional investors own 85.31% of the company’s stock.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the transaction, the executive vice president owned 50,238 shares of the company’s stock, valued at $6,857,487. The trade was a 37.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the company’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the sale, the executive vice president owned 62,613 shares of the company’s stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 48,091 shares of company stock worth $6,568,423. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on BNY shares. Barclays raised their target price on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Royal Bank Of Canada lifted their price objective on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a research report on Friday, April 17th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. Finally, Truist Financial increased their target price on Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $138.08.

Bank of New York Mellon Stock Performance

BNY opened at $144.24 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market cap of $99.00 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07. The stock has a 50-day moving average of $132.20 and a 200-day moving average of $122.43. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $144.98.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The firm’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $1.58 EPS. As a group, equities research analysts forecast that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 26.27%.

About Bank of New York Mellon

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.