Bank of New York Mellon Corporation $BNY Shares Bought by Cibc World Market Inc.

Cibc World Market Inc. lifted its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 17.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 153,639 shares of the bank’s stock after buying an additional 22,844 shares during the quarter. Cibc World Market Inc.’s holdings in Bank of New York Mellon were worth $17,836,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $27,000. Marquette Asset Management LLC increased its position in shares of 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 worth $30,000 after acquiring an additional 166 shares in the last quarter. Westside Investment Management Inc. increased its position in shares of 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 worth $45,000 after acquiring an additional 127 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter worth $46,000. Finally, Dunhill Financial LLC increased its position in shares of Bank of New York Mellon by 130.8% in the third quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after acquiring an additional 242 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BNY stock opened at $142.65 on Friday. The firm has a market cap of $97.91 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. Bank of New York Mellon Corporation has a 1-year low of $87.41 and a 1-year high of $144.98. The firm has a fifty day moving average of $132.70 and a two-hundred day moving average of $122.57.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data 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. The company had revenue of $5.41 billion during the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $1.58 EPS. As a group, research analysts anticipate that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The business also recently disclosed 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. This represents a $2.12 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.27%.

Insider Activity at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the transaction, the executive vice president directly owned 50,238 shares in the company, valued at approximately $6,857,487. This trade represents a 37.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Alejandro Perez sold 12,504 shares of the firm’s 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,091 shares of company stock valued at $6,568,423 in the last 90 days. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a report on Monday, May 11th. Keefe, Bruyette & Woods raised their price target on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Finally, Citigroup assumed coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price 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.