Wells Fargo & Company MN Sells 41,016 Shares of Bank of New York Mellon Corporation $BNY

Wells Fargo & Company MN cut its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,998,271 shares of the bank’s stock after selling 41,016 shares during the period. Wells Fargo & Company MN’s holdings in Bank of New York Mellon were worth $1,044,609,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BNY. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $27,000. MCF Advisors LLC increased its stake in shares of Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after acquiring an additional 101 shares during the last quarter. Marquette Asset Management LLC increased its stake in shares of Bank of New York Mellon by 174.7% in the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Bank of New York Mellon in the 4th quarter valued at about $46,000. Finally, Dunhill Financial LLC increased its stake in Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock worth $47,000 after purchasing an additional 242 shares in the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on BNY. Evercore set a $136.00 target price on Bank of New York Mellon in a research note on Friday, April 17th. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Barclays increased their target price on Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Truist Financial increased their target price 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. Finally, JPMorgan Chase & Co. increased their target price on Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Bank of New York Mellon Price Performance

Shares of BNY opened at $143.74 on Friday. The stock has a market capitalization of $98.66 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.04 and a beta of 1.07. Bank of New York Mellon Corporation has a twelve month low of $87.41 and a twelve month high of $145.02. The company has a 50 day moving average of $135.19 and a 200-day moving average of $123.80. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly 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 company had revenue of $5.41 billion during the quarter, compared to analysts’ expectations 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 business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the business earned $1.58 EPS. As a group, equities research analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend 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 Buying and Selling at Bank of New York Mellon

In other news, VP Shannon Marie Hobbs sold 297 shares of the firm’s 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 directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This trade represents a 1.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the transaction, the executive vice president directly owned 50,238 shares of the company’s stock, valued at $6,857,487. This represents a 37.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 48,091 shares of company stock valued at $6,568,423 over the last quarter. Insiders own 0.17% of the company’s stock.

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.