Maltese Capital Management LLC Grows Position in Bank of New York Mellon Corporation $BNY

Maltese Capital Management LLC boosted its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 42.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 19,500 shares of the bank’s stock after buying an additional 5,800 shares during the quarter. Maltese Capital Management LLC’s holdings in Bank of New York Mellon were worth $2,264,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in Bank of New York Mellon in the 4th quarter valued at $27,000. MCF Advisors LLC raised its stake in shares of Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the period. Marquette Asset Management LLC boosted its holdings 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 worth $30,000 after buying an additional 166 shares during the last quarter. Heritage Wealth Advisors purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $31,000. Finally, Wilkerson Advisory Group LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $31,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Evercore set a $136.00 price target on shares of Bank of New York Mellon in a report on Friday, April 17th. Barclays boosted their price target 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. Citigroup assumed coverage on Bank of New York Mellon in a research note on Monday, February 23rd. They set a “neutral” rating for the company. Truist Financial increased their price target 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, Morgan Stanley increased their price target on Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $138.08.

Bank of New York Mellon Stock Down 1.0%

BNY stock opened at $142.48 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. Bank of New York Mellon Corporation has a fifty-two week low of $87.41 and a fifty-two week high of $146.45. The company has a market capitalization of $97.80 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.05 and a beta of 1.07. The stock has a fifty day moving average of $135.59 and a 200-day moving average of $124.14.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping the consensus estimate of $1.94 by $0.31. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the company earned $1.58 EPS. The firm’s revenue was up 12.9% compared to the same quarter last year. As a group, equities research analysts predict that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current year.

Bank of New York Mellon Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 8th. Shareholders of record on Monday, April 27th were paid a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.27%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value 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 trade represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the completion of the transaction, the executive vice president owned 50,238 shares of the company’s stock, valued at approximately $6,857,487. This represents a 37.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 48,091 shares of company stock worth $6,568,423 in the last 90 days. 0.17% of the stock is owned by company 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.