Bank of New York Mellon Corp Lowers Holdings in Bank of New York Mellon Corporation $BNY

Bank of New York Mellon Corp decreased its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,615,913 shares of the bank’s stock after selling 169,846 shares during the quarter. Bank of New York Mellon Corp’s holdings in Bank of New York Mellon were worth $419,771,000 at the end of the most recent quarter.

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

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $144.24 on Friday. The stock has a 50-day simple moving average of $132.20 and a two-hundred day simple 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. 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 firm has a market capitalization of $99.00 billion, a PE ratio of 17.87, a P/E/G ratio of 1.03 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.31. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The business had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the previous year, the company posted $1.58 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s payout ratio is currently 26.27%.

Analyst Upgrades and Downgrades

BNY has been the subject of a number of research analyst reports. Barclays lifted their target price on 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. Morgan Stanley lifted their target price on Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. JPMorgan Chase & Co. lifted their target price on Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Evercore set a $136.00 target price on Bank of New York Mellon in a report on Friday, April 17th. Finally, Citigroup initiated coverage on Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Insiders Place Their Bets

In other news, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the transaction, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider owned 17,259 shares in the company, valued at $2,347,569.18. The trade was a 23.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,091 shares of company stock valued at $6,568,423 over the last three months. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Profile

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.