Bank of New York Mellon Corporation $BNY Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC reduced its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 10.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,363,580 shares of the bank’s stock after selling 280,944 shares during the period. Hsbc Holdings PLC’s holdings in Bank of New York Mellon were worth $274,705,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Abound Financial LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Bank of New York Mellon during the fourth quarter worth $27,000. MCF Advisors LLC raised its holdings in shares of Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after acquiring an additional 101 shares during the last quarter. Marquette Asset Management LLC lifted its position in shares of Bank of New York Mellon by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock valued at $30,000 after acquiring an additional 166 shares in the last quarter. Finally, Heritage Wealth Advisors acquired a new stake in shares of Bank of New York Mellon during the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 0.2%

BNY opened at $146.27 on Friday. Bank of New York Mellon Corporation has a 12 month low of $91.96 and a 12 month high of $148.50. The business has a 50-day moving average of $139.51 and a two-hundred day moving average of $126.96. 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 stock has a market capitalization of $100.40 billion, a price-to-earnings ratio of 18.13, a price-to-earnings-growth ratio of 1.06 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The business had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the company earned $1.58 earnings per share. The company’s quarterly revenue was up 12.9% on a year-over-year basis. On average, research analysts expect that Bank of New York Mellon Corporation will post 8.85 earnings per share for the current year.

Bank of New York Mellon Dividend Announcement

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 dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a yield of 1.4%. Bank of New York Mellon’s dividend payout ratio (DPR) is currently 26.27%.

Insider Activity at Bank of New York Mellon

In other news, VP Shannon Marie Hobbs sold 297 shares of the company’s stock in a transaction on 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 sale, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. This represents a 1.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kurtis R. Kurimsky sold 5,290 shares of the stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider directly owned 17,259 shares in the company, valued at $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. 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. Company insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on BNY. Evercore set a $136.00 target price on shares of Bank of New York Mellon in a report on Friday, April 17th. Weiss Ratings raised shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Morgan Stanley lifted their target price on shares of 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. Finally, Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $143.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus price target of $142.77.

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.