Deutsche Bank AG Sells 66,569 Shares of Bank of New York Mellon Corporation $BNY

Deutsche Bank AG decreased its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 2.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,150,526 shares of the bank’s stock after selling 66,569 shares during the quarter. Deutsche Bank AG’s holdings in Bank of New York Mellon were worth $365,745,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $27,000. MCF Advisors LLC increased its position in shares of Bank of New York Mellon by 74.8% during 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 increased its position in shares of Bank of New York Mellon by 174.7% during 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 acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $46,000. Finally, Godfrey Financial Associates Inc. acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $48,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Bank of New York Mellon

In other news, EVP Alejandro Perez sold 12,504 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.01, for a total transaction of $1,713,173.04. Following the sale, the executive vice president directly 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 Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of $137.05, for a total transaction of $40,703.85. Following the sale, 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 SEC filing for this sale provides additional information. Insiders sold 48,091 shares of company stock valued at $6,568,423 over the last three months. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Price Performance

Shares of BNY opened at $139.89 on Thursday. The firm has a market capitalization of $96.02 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.05 and a beta of 1.07. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. Bank of New York Mellon Corporation has a 1-year low of $87.41 and a 1-year high of $144.98. The company’s fifty day moving average price is $134.27 and its 200-day moving average price is $123.41.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.58 earnings per share. On average, equities research analysts predict that Bank of New York Mellon Corporation will post 8.78 EPS for the current year.

Bank of New York Mellon Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, April 27th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.5%. Bank of New York Mellon’s payout ratio is 26.27%.

Wall Street Analyst Weigh In

BNY has been the topic of a number of recent analyst reports. Truist Financial upped their price target on Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Evercore set a $136.00 price target on Bank of New York Mellon in a research report on Friday, April 17th. Citigroup initiated coverage on Bank of New York Mellon in a research report on Monday, February 23rd. They set a “neutral” rating on the stock. JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $130.50 to $140.00 and gave the stock an “overweight” rating in a research report on Monday, May 11th. Finally, Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently 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.