Erste Asset Management GmbH Sells 89,176 Shares of Bank of New York Mellon Corporation $BNY

Erste Asset Management GmbH cut its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 60.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,435 shares of the bank’s stock after selling 89,176 shares during the period. Erste Asset Management GmbH’s holdings in Bank of New York Mellon were worth $6,858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. CenterBook Partners LP bought a new position in shares of Bank of New York Mellon in the 4th quarter worth about $759,000. Fiera Capital Corp raised its position in shares of Bank of New York Mellon by 66.8% in the 4th quarter. Fiera Capital Corp now owns 236,782 shares of the bank’s stock worth $27,488,000 after acquiring an additional 94,818 shares in the last quarter. Endeavor Private Wealth Inc. raised its position in shares of Bank of New York Mellon by 0.7% in the 4th quarter. Endeavor Private Wealth Inc. now owns 15,469 shares of the bank’s stock worth $1,796,000 after acquiring an additional 113 shares in the last quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna increased its position in Bank of New York Mellon by 19,412.1% in the 4th quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 20,878 shares of the bank’s stock valued at $2,424,000 after buying an additional 20,771 shares in the last quarter. Finally, Syon Capital LLC increased its position in Bank of New York Mellon by 16.7% in the 4th quarter. Syon Capital LLC now owns 11,699 shares of the bank’s stock valued at $1,358,000 after buying an additional 1,674 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on BNY shares. Barclays boosted their target price on Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. boosted their target price on Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. Finally, Royal Bank Of Canada boosted their target price on Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $138.08.

Bank of New York Mellon Price Performance

BNY stock opened at $141.85 on Tuesday. The company has a market capitalization of $97.36 billion, a P/E ratio of 17.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $144.98. The business has a 50-day simple moving average of $133.20 and a two-hundred day simple moving average of $122.92.

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 analysts’ consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion during 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 company’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 EPS. Research analysts expect that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal 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 paid a dividend of $0.53 per share. 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 payout ratio is 26.27%.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP Alejandro Perez sold 12,504 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the completion of the transaction, the executive vice president owned 62,613 shares in the company, valued at approximately $8,578,607.13. The trade was a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the transaction, the vice president owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This trade represents a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,091 shares of company stock worth $6,568,423 over the last 90 days. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Company 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.