Deutsche Bank AG Decreases Position in Bank of New York Mellon Corporation $BNY

Key Points

• Deutsche Bank AG trimmed its stake in Bank of New York Mellon by 2.1% in the fourth quarter, though it still held 3.15 million shares worth about $365.7 million.
• Several other institutional investors adjusted positions in BNY, and 85.31% of the stock is owned by hedge funds and other institutions. Insider activity also showed sales by two executive vice presidents in recent months.
• BNY reported strong quarterly results, with EPS of $2.25 beating expectations and revenue of $5.41 billion topping estimates. The company also paid a quarterly dividend of $0.53, implying an annual yield of 1.5%.

Deutsche Bank AG cut its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,150,526 shares of the bank's stock after selling 66,569 shares during the period. Deutsche Bank AG owned 0.45% of Bank of New York Mellon worth $365,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Todd Asset Management LLC boosted its position in shares of Bank of New York Mellon by 37.5% during the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank's stock valued at $43,069,000 after buying an additional 101,142 shares during the period. First National Bank of Omaha purchased a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $3,044,000. Cullen Investment Group LTD. boosted its position in shares of Bank of New York Mellon by 1,691.4% during the fourth quarter. Cullen Investment Group LTD. now owns 38,730 shares of the bank's stock valued at $4,610,000 after buying an additional 36,568 shares during the period. Cibc World Market Inc. boosted its position in shares of Bank of New York Mellon by 8.6% during the third quarter. Cibc World Market Inc. now owns 130,795 shares of the bank's stock valued at $14,251,000 after buying an additional 10,377 shares during the period. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Bank of New York Mellon during the third quarter valued at approximately $10,641,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Evercore set a $136.00 target price on Bank of New York Mellon in a research report on Friday, April 17th. Wall Street Zen upgraded Bank of New York Mellon to a "hold" rating in a research report on Saturday, May 23rd. Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $143.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, April 17th. Truist Financial boosted their target price on Bank of New York Mellon from $140.00 to $148.00 and gave the company a "buy" rating in a research report on Friday, April 17th. Finally, Weiss Ratings upgraded Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average target price of $138.08.

Insider Buying and Selling at Bank of New York Mellon

In related news, EVP Alejandro Perez sold 12,504 shares of the business's stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $137.01, for a total value of $1,713,173.04. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the business's stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares of the company's stock, valued at $6,857,487. This trade represents a 37.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 48,091 shares of company stock worth $6,568,423. 0.17% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Down 2.3%

Shares of NYSE BNY opened at $139.89 on Thursday. 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 firm has a market capitalization of $96.02 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.05 and a beta of 1.07. The stock has a 50 day moving average price of $134.27 and a 200 day moving average price of $123.41. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $144.98.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.31. The firm 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 quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 earnings per share. Sell-side analysts expect 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a $0.53 dividend. 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 payout ratio is 26.27%.

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.

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