BSN CAPITAL PARTNERS Ltd Buys New Stake in Bank of New York Mellon Corporation $BNY

BSN CAPITAL PARTNERS Ltd bought a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 169,545 shares of the bank’s stock, valued at approximately $18,461,000. Bank of New York Mellon makes up about 0.8% of BSN CAPITAL PARTNERS Ltd’s holdings, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Todd Asset Management LLC increased its stake in shares of Bank of New York Mellon by 37.5% in the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after buying an additional 101,142 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Bank of New York Mellon by 53.8% in the fourth quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock valued at $21,129,000 after buying an additional 63,627 shares during the last quarter. Cullen Investment Group LTD. lifted its position in Bank of New York Mellon by 1,691.4% during the 4th quarter. Cullen Investment Group LTD. now owns 38,730 shares of the bank’s stock worth $4,610,000 after buying an additional 36,568 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Bank of New York Mellon during the 3rd quarter worth about $10,641,000. Finally, Empirical Asset Management LLC bought a new stake in Bank of New York Mellon during the 3rd quarter worth about $2,301,000. Institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BNY. Truist Financial raised their price objective on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research 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 increased their price target on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a research note on Friday, April 17th. Barclays raised their price target on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Finally, Citigroup started coverage on Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating on the stock. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $138.08.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $143.64 on Friday. The stock’s fifty day simple moving average is $137.17 and its 200 day simple moving average is $124.97. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $98.59 billion, a PE ratio of 17.80, a PEG ratio of 1.05 and a beta of 1.07. Bank of New York Mellon Corporation has a 12 month low of $87.41 and a 12 month high of $148.13.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $5.14 billion. During the same period in the prior year, the business earned $1.58 EPS. Bank of New York Mellon’s revenue for the quarter was up 12.9% compared to the same quarter last year. On average, research analysts predict 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 paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.27%.

Insider Buying and Selling

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 50,238 shares in the company, valued at $6,857,487. The trade was a 37.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the transaction, the insider directly owned 17,259 shares in the company, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 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.