Bank of New York Mellon Corporation $BNY Stock Holdings Lessened by Fifth Third Bancorp

Fifth Third Bancorp trimmed its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 7.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 203,908 shares of the bank’s stock after selling 16,321 shares during the period. Fifth Third Bancorp’s holdings in Bank of New York Mellon were worth $29,491,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Endeavor Private Wealth Inc. boosted its position in shares of Bank of New York Mellon by 3.5% during the 3rd quarter. Endeavor Private Wealth Inc. now owns 16,946 shares of the bank’s stock valued at $2,451,000 after acquiring an additional 576 shares in the last quarter. Maryland State Retirement & Pension System increased its stake in Bank of New York Mellon by 13.7% in the third quarter. Maryland State Retirement & Pension System now owns 41,918 shares of the bank’s stock valued at $6,063,000 after acquiring an additional 5,047 shares during the period. Ritholtz Wealth Management increased its stake in Bank of New York Mellon by 1.1% in the third quarter. Ritholtz Wealth Management now owns 32,406 shares of the bank’s stock valued at $4,687,000 after acquiring an additional 342 shares during the period. UNIVEST FINANCIAL Corp acquired a new position in Bank of New York Mellon in the third quarter worth about $226,000. Finally, NBH Bank raised its position in Bank of New York Mellon by 7.9% in the third quarter. NBH Bank now owns 2,644 shares of the bank’s stock worth $382,000 after purchasing an additional 193 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Price Performance

Shares of BNY stock opened at $153.10 on Friday. Bank of New York Mellon Corporation has a 52 week low of $105.42 and a 52 week high of $165.84. The stock has a market capitalization of $103.02 billion, a PE ratio of 16.68, a PEG ratio of 1.02 and a beta of 1.02. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s fifty day moving average is $149.26 and its 200-day moving average is $140.76.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.11. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The business had revenue of $5.68 billion for the quarter. The company’s revenue for the quarter was up 11.7% on a year-over-year basis. Equities research analysts expect that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Robin Vince sold 40,620 shares of the stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $147.81, for a total transaction of $6,004,042.20. Following the sale, the chief executive officer directly owned 585,174 shares of the company’s stock, valued at $86,494,568.94. This represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jose Minaya sold 3,520 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total transaction of $520,291.20. Following the sale, the vice president directly owned 173,304 shares in the company, valued at $25,616,064.24. This trade represents a 1.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,560 shares of company stock worth $9,007,119 over the last quarter. 0.17% of the stock is owned by company insiders.

Analyst Ratings Changes

BNY has been the subject of a number of analyst reports. Truist Financial cut their price target on shares of Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, October 16th. TD Cowen assumed coverage on Bank of New York Mellon in a research note on Thursday, October 8th. They issued a “hold” rating and a $160.00 price objective on the stock. Bank of America upped their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Citigroup dropped their target price on Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating for the company in a report on Monday, October 19th. Finally, New Street Research set a $182.00 target price on Bank of New York Mellon in a research report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $165.04.

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.