Credit Agricole S A Raises Holdings in The Bank of New York Mellon Corporation $BK

Credit Agricole S A boosted its holdings in shares of The Bank of New York Mellon Corporation (NYSE:BK) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 955,532 shares of the bank’s stock after buying an additional 19,958 shares during the quarter. Credit Agricole S A’s holdings in Bank of New York Mellon were worth $80,140,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Revolve Wealth Partners LLC purchased a new position in Bank of New York Mellon in the fourth quarter worth $220,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Bank of New York Mellon in the fourth quarter worth $2,734,000. MetLife Investment Management LLC grew its holdings in Bank of New York Mellon by 0.4% in the fourth quarter. MetLife Investment Management LLC now owns 192,650 shares of the bank’s stock worth $14,801,000 after purchasing an additional 745 shares during the last quarter. MML Investors Services LLC grew its holdings in Bank of New York Mellon by 35.9% in the fourth quarter. MML Investors Services LLC now owns 238,509 shares of the bank’s stock worth $18,325,000 after purchasing an additional 62,952 shares during the last quarter. Finally, Transce3nd LLC purchased a new position in Bank of New York Mellon in the fourth quarter worth $33,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on BK. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 16th. Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $105.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, July 16th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $95.00 to $101.00 and gave the stock an “overweight” rating in a report on Wednesday, July 16th. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $100.00 to $109.00 and gave the company a “hold” rating in a report on Thursday, August 14th. Finally, Evercore ISI boosted their price objective on shares of Bank of New York Mellon from $88.00 to $90.00 and gave the company an “in-line” rating in a report on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $95.08.

Insider Transactions at Bank of New York Mellon

In related news, EVP J Kevin Mccarthy sold 20,000 shares of the business’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $98.45, for a total transaction of $1,969,000.00. Following the completion of the transaction, the executive vice president directly owned 35,115 shares in the company, valued at $3,457,071.75. The trade was a 36.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Up 0.7%

NYSE BK opened at $101.66 on Tuesday. The company has a market capitalization of $71.69 billion, a PE ratio of 15.52, a P/E/G ratio of 0.97 and a beta of 1.12. The company has a fifty day moving average of $96.00 and a 200 day moving average of $88.21. The Bank of New York Mellon Corporation has a 1 year low of $65.01 and a 1 year high of $104.47. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, July 15th. The bank reported $1.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.21. The company had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.80 billion. Bank of New York Mellon had a net margin of 12.27% and a return on equity of 13.46%. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.51 earnings per share. Research analysts forecast that The Bank of New York Mellon Corporation will post 6.96 earnings per share for the current year.

Bank of New York Mellon Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 7th. Investors of record on Friday, July 25th were given a dividend of $0.53 per share. This is a boost from Bank of New York Mellon’s previous quarterly dividend of $0.47. This represents a $2.12 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date was Friday, July 25th. Bank of New York Mellon’s payout ratio is presently 32.37%.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.