Erste Asset Management GmbH Cuts Position in Bank of New York Mellon Corporation $BNY

Erste Asset Management GmbH lessened its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 60.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BNY. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Bank of New York Mellon by 18,044.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after buying an additional 19,561,793 shares during the last quarter. Norges Bank purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Bank of New York Mellon by 639.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after buying an additional 6,119,749 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Bank of New York Mellon by 18.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after buying an additional 2,034,781 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $227,437,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Down 0.4%

NYSE:BNY opened at $141.85 on Tuesday. 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 stock has a market capitalization of $97.36 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. The firm’s 50 day moving average is $133.20 and its 200 day moving average is $122.92. Bank of New York Mellon Corporation has a 12 month low of $87.41 and a 12 month high of $144.98.

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

Bank of New York Mellon Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend 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 presently 26.27%.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the sale, the vice president owned 15,206 shares of the company’s stock, valued at $2,083,982.30. The trade was a 1.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, 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 SEC filing for this sale provides additional information. Over the last quarter, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BNY. Barclays boosted their target price on Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Truist Financial lifted their price target on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Morgan Stanley lifted their price target on shares of 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. Citigroup began coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They issued a “neutral” rating on the stock. Finally, Evercore set a $136.00 price target on shares of Bank of New York Mellon in a report on Friday, April 17th. One equities research 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $138.08.

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.