Piedmont Capital Management LLC NC Invests $683,000 in Bank of New York Mellon Corporation $BNY

Piedmont Capital Management LLC NC purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 5,882 shares of the bank’s stock, valued at approximately $683,000.

Several other large investors have also recently modified their holdings of BNY. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth about $27,000. MCF Advisors LLC raised its position 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 worth $27,000 after purchasing an additional 101 shares during the last quarter. Marquette Asset Management LLC increased its holdings in 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 in the last quarter. Heritage Wealth Advisors bought a new stake in Bank of New York Mellon in the 4th quarter worth about $31,000. Finally, Wilkerson Advisory Group LLC bought a new stake in Bank of New York Mellon in the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BNY shares. Evercore set a $136.00 price objective on Bank of New York Mellon in a report on Friday, April 17th. Weiss Ratings upgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. Truist Financial lifted their price objective on Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Morgan Stanley lifted their price objective on Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. Finally, Royal Bank Of Canada lifted their price objective on 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 issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $138.08.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, EVP Alejandro Perez sold 12,504 shares of the business’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the completion of the sale, the executive vice president directly owned 62,613 shares in the company, valued at $8,578,607.13. The trade was a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business’s stock in a transaction dated 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is owned by company insiders.

Bank of New York Mellon Trading Down 0.2%

Bank of New York Mellon stock opened at $143.74 on Monday. The business has a 50-day simple moving average of $135.19 and a two-hundred day simple moving average of $123.91. The company has a market cap of $98.66 billion, a P/E ratio of 17.81, a P/E/G ratio of 1.05 and a beta of 1.07. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $145.02. 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 released its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate 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 business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 EPS. Analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

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

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.