Brandes Investment Partners LP Cuts Stock Holdings in Bank of New York Mellon Corporation $BNY

Brandes Investment Partners LP lowered its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 17.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 382,234 shares of the bank's stock after selling 79,172 shares during the period. Brandes Investment Partners LP owned approximately 0.05% of Bank of New York Mellon worth $44,374,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Bank of New York Mellon during the fourth quarter worth approximately $27,000. MCF Advisors LLC raised its stake 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 valued at $27,000 after acquiring an additional 101 shares during the period. Marquette Asset Management LLC raised its stake 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 valued at $30,000 after acquiring an additional 166 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Bank of New York Mellon in the 4th quarter valued at $46,000. Finally, Dunhill Financial LLC raised its stake in shares of Bank of New York Mellon by 130.8% in the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank's stock valued at $47,000 after acquiring an additional 242 shares during the period. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $143.12 on Wednesday. Bank of New York Mellon Corporation has a 12-month low of $87.41 and a 12-month high of $144.98. The company has a market capitalization of $98.23 billion, a price-to-earnings ratio of 17.73, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07. 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 firm's fifty day moving average price is $133.77 and its 200 day moving average price is $123.17.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its quarterly 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. The firm 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%. The firm's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.58 EPS. On average, research analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were issued a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. Bank of New York Mellon's payout ratio is 26.27%.

Analyst Ratings Changes

BNY has been the topic of a number of research reports. Citigroup initiated coverage on shares of Bank of New York Mellon in a research note on Monday, February 23rd. They issued a "neutral" rating on the stock. Truist Financial raised their target price on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, April 17th. Morgan Stanley raised their target price on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an "equal weight" rating in a research note on Friday, April 17th. Finally, Royal Bank Of Canada raised their target price on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a "sector perform" rating in a research note 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $138.08.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, insider Kurtis R. Kurimsky sold 5,290 shares of the business's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the transaction, the insider directly owned 17,259 shares of the company's stock, valued at $2,347,569.18. The trade was a 23.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction of $4,095,000.00. Following the transaction, the executive vice president directly owned 50,238 shares of the company's stock, valued at $6,857,487. The trade was a 37.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 48,091 shares of company stock valued at $6,568,423. Corporate insiders own 0.17% of the company's stock.

Bank of New York Mellon Company 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.

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