Chevy Chase Trust Holdings LLC Has $31.81 Million Stake in The Bank of New York Mellon Corporation (NYSE:BK)

Chevy Chase Trust Holdings LLC reduced its position in shares of The Bank of New York Mellon Corporation (NYSE:BK - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 379,306 shares of the bank's stock after selling 4,796 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Bank of New York Mellon worth $31,812,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Capital Analysts LLC raised its holdings in shares of Bank of New York Mellon by 3.7% during the fourth quarter. Capital Analysts LLC now owns 3,317 shares of the bank's stock worth $255,000 after purchasing an additional 119 shares during the period. Cape Investment Advisory Inc. raised its stake in Bank of New York Mellon by 12.6% during the fourth quarter. Cape Investment Advisory Inc. now owns 1,172 shares of the bank's stock worth $90,000 after acquiring an additional 131 shares during the period. Syon Capital LLC raised its stake in Bank of New York Mellon by 2.5% during the fourth quarter. Syon Capital LLC now owns 5,432 shares of the bank's stock worth $417,000 after acquiring an additional 132 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Bank of New York Mellon by 0.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 34,536 shares of the bank's stock worth $2,653,000 after acquiring an additional 133 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in Bank of New York Mellon by 1.1% in the first quarter. Parallel Advisors LLC now owns 12,589 shares of the bank's stock valued at $1,056,000 after acquiring an additional 139 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 0.1%

Shares of BK traded up $0.11 during midday trading on Thursday, hitting $90.11. The stock had a trading volume of 4,527,836 shares, compared to its average volume of 4,099,117. The business has a 50-day simple moving average of $86.30 and a two-hundred day simple moving average of $83.45. The firm has a market cap of $64.46 billion, a P/E ratio of 14.68, a price-to-earnings-growth ratio of 1.02 and a beta of 1.08. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.81. The Bank of New York Mellon Corporation has a fifty-two week low of $58.19 and a fifty-two week high of $92.64.

Bank of New York Mellon (NYSE:BK - Get Free Report) last issued its quarterly earnings results on Friday, April 11th. The bank reported $1.58 EPS for the quarter, beating the consensus estimate of $1.50 by $0.08. Bank of New York Mellon had a net margin of 11.78% and a return on equity of 12.96%. The business had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The firm's quarterly revenue was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Stockholders of record on Monday, April 21st were given a $0.47 dividend. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 annualized dividend and a dividend yield of 2.09%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 30.62%.

Insider Activity

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $79.03, for a total value of $2,370,900.00. Following the completion of the sale, the executive vice president now owns 55,115 shares in the company, valued at $4,355,738.45. This represents a 35.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Catherine Keating sold 65,473 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $77.31, for a total transaction of $5,061,717.63. Following the transaction, the vice president now owns 87,542 shares in the company, valued at approximately $6,767,872.02. This represents a 42.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 101,114 shares of company stock worth $7,869,795. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Bank of New York Mellon from $82.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, March 24th. Truist Financial downgraded shares of Bank of New York Mellon from a "buy" rating to a "hold" rating and boosted their price target for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $90.00 price objective on shares of Bank of New York Mellon in a report on Monday, March 17th. Wells Fargo & Company lifted their price objective on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Finally, Evercore ISI upped their target price on shares of Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a research report on Tuesday, April 1st. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $91.85.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.