Greystone Financial Group LLC Has $12.46 Million Holdings in The Bank of New York Mellon Co. (NYSE:BK)

Greystone Financial Group LLC decreased its stake in shares of The Bank of New York Mellon Co. (NYSE:BK - Free Report) by 5.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 148,576 shares of the bank's stock after selling 8,643 shares during the period. Bank of New York Mellon accounts for about 2.3% of Greystone Financial Group LLC's holdings, making the stock its 14th largest position. Greystone Financial Group LLC's holdings in Bank of New York Mellon were worth $12,461,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Parvin Asset Management LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth $25,000. Bellwether Advisors LLC acquired a new stake in Bank of New York Mellon in the 4th quarter valued at approximately $28,000. REAP Financial Group LLC increased its position in Bank of New York Mellon by 123.2% in the 4th quarter. REAP Financial Group LLC now owns 395 shares of the bank's stock worth $30,000 after buying an additional 218 shares during the period. Transce3nd LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $33,000. Finally, South Plains Financial Inc. bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at approximately $34,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling at Bank of New York Mellon

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

Bank of New York Mellon Stock Up 2.0%

Shares of NYSE BK opened at $90.33 on Monday. The Bank of New York Mellon Co. has a 52-week low of $57.18 and a 52-week high of $91.23. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.70 and a current ratio of 0.69. The business has a fifty day moving average of $82.87 and a two-hundred day moving average of $82.65. The stock has a market cap of $64.63 billion, a PE ratio of 15.55, a PEG ratio of 0.97 and a beta of 1.08.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Friday, April 11th. The bank reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.76 billion. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The firm's quarterly revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $1.29 EPS. As a group, equities research analysts expect that The Bank of New York Mellon Co. will post 6.96 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 2nd. Investors of record on Monday, April 21st were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Monday, April 21st. This represents a $1.88 dividend on an annualized basis and a yield of 2.08%. Bank of New York Mellon's dividend payout ratio is 30.62%.

Analyst Ratings Changes

A number of brokerages have weighed in on BK. Wells Fargo & Company increased their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a report on Monday, March 3rd. Morgan Stanley lifted their target price on Bank of New York Mellon from $94.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Truist Financial cut Bank of New York Mellon from a "buy" rating to a "hold" rating and upped their price target for the company from $87.00 to $97.00 in a report on Wednesday, May 28th. Evercore ISI lifted their price objective on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $90.00 price objective on shares of Bank of New York Mellon in a research report on Monday, March 17th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.85.

About Bank of New York Mellon

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.

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