Maltese Capital Management LLC Buys 5,800 Shares of Bank of New York Mellon Corporation $BNY

Maltese Capital Management LLC boosted its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 42.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,500 shares of the bank’s stock after acquiring an additional 5,800 shares during the period. Maltese Capital Management LLC’s holdings in Bank of New York Mellon were worth $2,264,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Todd Asset Management LLC boosted its holdings in Bank of New York Mellon by 37.5% in the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after acquiring an additional 101,142 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in Bank of New York Mellon by 53.8% in the fourth quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock valued at $21,129,000 after acquiring an additional 63,627 shares during the last quarter. Cullen Investment Group LTD. boosted its holdings in shares of Bank of New York Mellon by 1,691.4% during the 4th quarter. Cullen Investment Group LTD. now owns 38,730 shares of the bank’s stock worth $4,610,000 after buying an additional 36,568 shares in the last quarter. First National Bank of Omaha bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $3,044,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Bank of New York Mellon during the 3rd quarter worth approximately $10,641,000. 85.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BNY shares. Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, April 17th. Barclays increased their price target on Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Evercore set a $136.00 price target on Bank of New York Mellon in a report on Friday, April 17th. 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. Finally, Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $138.08.

Insider Buying and Selling

In related news, EVP Alejandro Perez sold 12,504 shares of the 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 completion of the sale, the executive vice president directly owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. This represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the 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 completion of the sale, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 48,091 shares of company stock valued at $6,568,423. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Price Performance

Shares of BNY opened at $142.48 on Tuesday. Bank of New York Mellon Corporation has a 12-month low of $87.41 and a 12-month high of $146.45. The business’s fifty day moving average is $135.59 and its 200 day moving average is $124.14. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.82. The stock has a market cap of $97.80 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.05 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.14 billion. During the same period last year, the business earned $1.58 EPS. Bank of New York Mellon’s quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that Bank of New York Mellon Corporation will post 8.78 earnings per share for the current fiscal year.

Bank of New York Mellon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis 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 currently 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.