BNP Paribas Has $381,000 Holdings in Bank of New York Mellon Corporation $BNY

Key Points

• BNP Paribas sharply reduced its stake in Bank of New York Mellon by 95.8% in the fourth quarter, leaving it with 3,280 shares valued at about $381,000.
• Wall Street sentiment remains positive overall, with BNY carrying a “Moderate Buy” consensus and an average price target of $138.08 after several analysts raised their targets.
• BNY reported strong quarterly results, posting EPS of $2.25 and revenue of $5.41 billion, both above estimates, while also paying a quarterly dividend of $0.53 per share.

BNP Paribas lessened its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 95.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,280 shares of the bank's stock after selling 74,104 shares during the period. BNP Paribas' holdings in Bank of New York Mellon were worth $381,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of BNY. Revolve Wealth Partners LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $220,000. Sivia Capital Partners LLC grew its stake in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank's stock valued at $309,000 after buying an additional 909 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $2,482,000. Treasurer of the State of North Carolina grew its stake in shares of Bank of New York Mellon by 1.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank's stock valued at $30,466,000 after buying an additional 5,445 shares in the last quarter. Finally, Osterweis Capital Management Inc. grew its stake in shares of Bank of New York Mellon by 11,890.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank's stock valued at $109,000 after buying an additional 1,189 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen raised Bank of New York Mellon to a "hold" rating in a research note on Saturday, May 23rd. Morgan Stanley increased 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. Barclays increased their price target on Bank of New York Mellon from $143.00 to $149.00 and gave the company an "overweight" rating in a report on Friday, April 17th. JPMorgan Chase & Co. increased their price target on Bank of New York Mellon from $130.50 to $140.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Finally, Royal Bank Of Canada increased 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 issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Bank of New York Mellon currently has an average rating of "Moderate Buy" and a consensus price target of $138.08.

Insider Buying and Selling

In other news, VP Shannon Marie Hobbs sold 297 shares of the firm's stock in a transaction on 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 sale, the vice president directly owned 15,206 shares in the company, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Alejandro Perez sold 12,504 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president owned 62,613 shares of the company's stock, valued at $8,578,607.13. The trade was a 16.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Stock Up 0.1%

BNY opened at $142.71 on Wednesday. Bank of New York Mellon Corporation has a 1-year low of $87.41 and a 1-year high of $143.95. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $97.95 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.04 and a beta of 1.07. The business has a 50 day moving average of $130.63 and a 200-day moving average of $121.77.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 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 analyst estimates of $5.14 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.Bank of New York Mellon's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 earnings per share. As a group, sell-side analysts anticipate 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 disclosed 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 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon's dividend payout ratio is currently 26.27%.

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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