SBI Okasan Asset Management Co.Ltd. Takes Position in Bank of New York Mellon Corporation $BNY

SBI Okasan Asset Management Co.Ltd. purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 11,960 shares of the bank’s stock, valued at approximately $1,405,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Bank of New York Mellon in the fourth quarter valued at about $27,000. Marquette Asset Management LLC raised its stake in Bank of New York Mellon by 174.7% in 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. Valley Wealth Managers Inc. purchased a new stake in Bank of New York Mellon in the third quarter valued at about $33,000. Westside Investment Management Inc. raised its stake in Bank of New York Mellon by 44.1% in 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. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in Bank of New York Mellon in the fourth quarter valued at about $46,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Bank of New York Mellon Price Performance

Shares of NYSE:BNY opened at $140.60 on Friday. Bank of New York Mellon Corporation has a twelve month low of $87.41 and a twelve month high of $141.65. The company’s 50 day moving average is $129.58 and its 200 day moving average is $121.35. 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 cap of $96.51 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $5.14 billion. During the same quarter in the prior year, the company earned $1.58 EPS. Bank of New York Mellon’s quarterly revenue was up 12.9% on a year-over-year basis. On average, sell-side analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders 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 dividend yield of 1.5%. Bank of New York Mellon’s dividend payout ratio is presently 26.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Royal Bank Of Canada increased their price target on 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. Truist Financial increased their price target on Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Barclays increased their price target on Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Morgan Stanley raised their price objective on Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Friday, April 17th. Finally, Citigroup initiated coverage on Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating for the company. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $138.08.

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.