First National Bank of Omaha boosted its position in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 451.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 153,911 shares of the bank’s stock after purchasing an additional 125,978 shares during the period. First National Bank of Omaha’s holdings in Bank of New York Mellon were worth $17,964,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Storgate LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $345,000. Dynamic Technology Lab Private Ltd purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $3,060,000. Caitong International Asset Management Co. Ltd boosted its holdings in Bank of New York Mellon by 222.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 557 shares of the bank’s stock valued at $65,000 after acquiring an additional 384 shares during the period. Korea Investment CORP boosted its holdings in Bank of New York Mellon by 4.3% during the 4th quarter. Korea Investment CORP now owns 575,595 shares of the bank’s stock valued at $66,821,000 after acquiring an additional 23,665 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Bank of New York Mellon in the 4th quarter valued at about $5,820,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
BNY has been the subject of several recent research reports. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Citigroup initiated coverage on Bank of New York Mellon in a research note on Monday, February 23rd. They issued a “neutral” rating for the company. Truist Financial lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective on Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a research note on Monday, May 11th. Finally, Evercore set a $136.00 price objective on Bank of New York Mellon in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $138.08.
Insider Activity at Bank of New York Mellon
In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred on 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 $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. Company insiders own 0.17% of the company’s stock.
Bank of New York Mellon Stock Performance
Shares of BNY opened at $143.74 on Friday. The stock has a 50-day simple moving average of $135.19 and a 200-day simple moving average of $123.80. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The stock has a market capitalization of $98.66 billion, a PE ratio of 17.81, a PEG ratio of 1.04 and a beta of 1.07. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $145.02.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last posted its 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. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The firm’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 earnings per share. On average, analysts predict that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.
Bank of New York Mellon Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio is currently 26.27%.
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.
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