Bank of New York Mellon Corporation $BNY Shares Bought by Cibc World Market Inc.

Key Points

• Cibc World Market Inc. increased its stake in Bank of New York Mellon by 17.5% in the fourth quarter, buying 22,844 additional shares and bringing its total holding to 153,639 shares worth about $17.8 million.
• Bank of New York Mellon reported strong quarterly results, with earnings of $2.25 per share versus the $1.94 consensus and revenue of $5.41 billion, up 12.9% year over year.
• The company paid a quarterly dividend of $0.53 per share, equal to an annualized yield of 1.5%, while analysts currently rate the stock a Moderate Buy with an average price target of $138.08.

Cibc World Market Inc. boosted its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 17.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,639 shares of the bank's stock after buying an additional 22,844 shares during the quarter. Cibc World Market Inc.'s holdings in Bank of New York Mellon were worth $17,836,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Linscomb Wealth Inc. lifted its holdings in shares of Bank of New York Mellon by 2.5% in the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank's stock valued at $376,000 after purchasing an additional 80 shares in the last quarter. Ransom Advisory Ltd lifted its holdings in shares of Bank of New York Mellon by 1.3% in the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank's stock valued at $787,000 after purchasing an additional 85 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Bank of New York Mellon by 0.9% in the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank's stock valued at $1,072,000 after purchasing an additional 86 shares in the last quarter. Essex Financial Services Inc. lifted its holdings in shares of Bank of New York Mellon by 0.5% in the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank's stock valued at $2,041,000 after purchasing an additional 89 shares in the last quarter. Finally, Vectors Research Management LLC lifted its holdings in shares of Bank of New York Mellon by 0.7% in the fourth quarter. Vectors Research Management LLC now owns 12,981 shares of the bank's stock valued at $1,507,000 after purchasing an additional 94 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Down 1.0%

Shares of BNY opened at $142.65 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.75 and a current ratio of 0.75. The company has a market capitalization of $97.91 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 1.05 and a beta of 1.07. Bank of New York Mellon Corporation has a fifty-two week low of $87.41 and a fifty-two week high of $144.98. The stock has a fifty day moving average of $132.70 and a two-hundred day moving average of $122.57.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.31. The company had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. Bank of New York Mellon's revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 earnings per share. As a group, analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS 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 1.5%. Bank of New York Mellon's dividend payout ratio (DPR) is currently 26.27%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BNY. Evercore set a $136.00 price target 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. JPMorgan Chase & Co. raised their target price on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, May 11th. Morgan Stanley boosted their price target on Bank of New York Mellon from $135.00 to $139.00 and gave the company an "equal weight" rating in a report on Friday, April 17th. Finally, Royal Bank Of Canada boosted their price target on Bank of New York Mellon from $130.00 to $142.00 and gave the company a "sector perform" rating in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have given a Hold rating to the company's 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 Activity at Bank of New York Mellon

In other Bank of New York Mellon news, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the transaction, the executive vice president owned 62,613 shares of the company's stock, valued at $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of the stock in a transaction that occurred 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 transaction, the vice president directly owned 15,206 shares in the company, valued at approximately $2,083,982.30. This represents a 1.92% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 48,091 shares of company stock worth $6,568,423. Company 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.

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