VMS Asset Management Limited Buys New Stake in Bank of New York Mellon Corporation $BNY

Key Points

• VMS Asset Management Limited initiated a new position in Bank of New York Mellon in the fourth quarter, buying 42,883 shares worth about $5.0 million.
• Insiders were net sellers recently, with Kurtis R. Kurimsky and Alejandro Perez both trimming their holdings; insiders have sold 48,091 shares over the last three months.
• BNY beat quarterly expectations, posting EPS of $2.25 versus the $1.94 estimate and revenue of $5.41 billion, while analysts currently rate the stock a consensus Moderate Buy.

VMS Asset Management Limited bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 42,883 shares of the bank's stock, valued at approximately $4,978,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Linscomb Wealth Inc. grew its holdings in shares of Bank of New York Mellon by 2.5% in the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank's stock valued at $376,000 after purchasing an additional 80 shares in the last quarter. Ransom Advisory Ltd boosted its stake in Bank of New York Mellon by 1.3% during the fourth quarter. Ransom Advisory Ltd now owns 6,777 shares of the bank's stock worth $787,000 after buying an additional 85 shares during the period. Mather Group LLC. boosted its stake in Bank of New York Mellon by 0.9% during the fourth quarter. Mather Group LLC. now owns 9,232 shares of the bank's stock worth $1,072,000 after buying an additional 86 shares during the period. Essex Financial Services Inc. boosted its stake in Bank of New York Mellon by 0.5% during the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank's stock worth $2,041,000 after buying an additional 89 shares during the period. Finally, Vectors Research Management LLC boosted its stake in Bank of New York Mellon by 0.7% during the fourth quarter. Vectors Research Management LLC now owns 12,981 shares of the bank's stock worth $1,507,000 after buying an additional 94 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Kurtis R. Kurimsky sold 5,290 shares of Bank of New York Mellon stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.02, for a total transaction of $719,545.80. Following the completion of the sale, the insider directly owned 17,259 shares in the company, valued at approximately $2,347,569.18. This trade represents a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Alejandro Perez sold 12,504 shares of Bank of New York Mellon stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.01, for a total value of $1,713,173.04. Following the sale, the executive vice president owned 62,613 shares of the company's stock, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 48,091 shares of company stock valued at $6,568,423 in the last three months. 0.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

BNY has been the subject of several recent analyst reports. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Friday, April 17th. Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a research note on Friday, April 17th. Wall Street Zen raised shares of Bank of New York Mellon to a "hold" rating in a research note on Saturday, May 23rd. Barclays lifted their price objective on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an "overweight" rating in a research note on Friday, April 17th. Finally, Weiss Ratings raised shares of Bank of New York Mellon from a "buy (a-)" rating to a "buy (a)" rating in a research note on Monday, May 4th. One 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.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $138.08.

Bank of New York Mellon Stock Up 2.6%

NYSE:BNY opened at $144.24 on Friday. Bank of New York Mellon Corporation has a twelve month low of $87.41 and a twelve month high of $144.98. The company has a market cap of $99.00 billion, a price-to-earnings ratio of 17.87, a price-to-earnings-growth ratio of 1.03 and a beta of 1.07. The stock has a fifty day simple moving average of $132.20 and a 200-day simple moving average of $122.43. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.31. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.The business had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.14 billion. During the same period last year, the company earned $1.58 earnings per share. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. Analysts anticipate that Bank of New York Mellon Corporation will post 8.78 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 8th. Stockholders of record on Monday, April 27th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon's dividend payout ratio (DPR) is 26.27%.

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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