Havemeyer Place LP Buys New Position in Bank of New York Mellon Corporation $BNY

Havemeyer Place LP bought a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,575 shares of the bank’s stock, valued at approximately $1,808,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at approximately $27,000. MCF Advisors LLC raised its holdings in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. Marquette Asset Management LLC raised its holdings in Bank of New York Mellon by 174.7% in the fourth quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in Bank of New York Mellon in the fourth quarter worth $46,000. Finally, Godfrey Financial Associates Inc. bought a new position in Bank of New York Mellon in the fourth quarter worth $48,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In other news, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $137.05, for a total transaction of $40,703.85. Following the completion of the transaction, the vice president directly owned 15,206 shares in the company, valued at $2,083,982.30. This trade represents a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $136.50, for a total value of $4,095,000.00. Following the transaction, the executive vice president 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 SEC filing for this sale provides additional information. Insiders have sold 48,091 shares of company stock valued at $6,568,423 over the last ninety days. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

BNY opened at $142.65 on Friday. 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 current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a fifty day simple moving average of $132.70 and a two-hundred day simple moving average of $122.57. The company has a market cap of $97.91 billion, a price-to-earnings ratio of 17.68, a price-to-earnings-growth ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating 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 firm 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 company’s revenue was up 12.9% on a year-over-year basis. Research analysts predict that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Announces Dividend

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

Analysts Set New Price Targets

BNY has been the subject of a number of research reports. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Royal Bank Of Canada increased their price objective on Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report on Friday, April 17th. Evercore set a $136.00 price objective on Bank of New York Mellon in a report on Friday, April 17th. JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Finally, Weiss Ratings upgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a report on Monday, May 4th. 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. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $138.08.

About Bank of New York Mellon

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.