Janney Montgomery Scott LLC raised its stake in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 7.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 148,115 shares of the bank’s stock after acquiring an additional 10,107 shares during the period. Janney Montgomery Scott LLC’s holdings in Bank of New York Mellon were worth $17,571,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Abound Financial LLC acquired a new position in Bank of New York Mellon in the fourth quarter worth about $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Bank of New York Mellon in the fourth quarter valued at about $27,000. MCF Advisors LLC raised its stake in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after buying an additional 101 shares in the last quarter. Marquette Asset Management LLC raised its stake in Bank of New York Mellon by 174.7% during 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 in the last quarter. Finally, Heritage Wealth Advisors bought a new position in Bank of New York Mellon during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 85.31% of the company’s stock.
Bank of New York Mellon Trading Up 0.4%
NYSE:BNY opened at $144.35 on Wednesday. Bank of New York Mellon Corporation has a 12-month low of $89.64 and a 12-month high of $148.50. The firm has a market capitalization of $99.08 billion, a P/E ratio of 17.89, a P/E/G ratio of 1.04 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. The business has a 50 day simple moving average of $139.12 and a 200 day simple moving average of $126.56.
Bank of New York Mellon Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were given a dividend of $0.53 per share. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. Bank of New York Mellon’s dividend payout ratio is currently 26.27%.
Analysts Set New Price Targets
Several research analysts have recently commented on BNY shares. Weiss Ratings upgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. Wells Fargo & Company upped their price target on Bank of New York Mellon from $137.00 to $152.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 24th. Truist Financial raised their price objective on Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Barclays lifted their price objective on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Finally, Royal Bank Of Canada increased their target price on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $142.77.
Get Our Latest Research Report on Bank of New York Mellon
Insider Activity
In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the business’s stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the transaction, the insider directly owned 17,259 shares of the company’s stock, valued at $2,347,569.18. The trade was a 23.46% decrease in their position. The transaction 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 company’s stock in a transaction dated Friday, April 17th. The stock was 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 of the company’s stock, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,091 shares of company stock worth $6,568,423 in the last 90 days. 0.17% of the stock is currently owned by insiders.
Bank of New York Mellon 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.
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