Tobam Has $1.02 Million Holdings in Bank of New York Mellon Corporation $BNY

Tobam raised its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 703.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,823 shares of the bank’s stock after acquiring an additional 7,725 shares during the period. Tobam’s holdings in Bank of New York Mellon were worth $1,024,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BNY. Abound Financial LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter valued at approximately $25,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Bank of New York Mellon in the 4th quarter valued at approximately $27,000. MCF Advisors LLC lifted its stake in Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after purchasing an additional 101 shares during the last quarter. Marquette Asset Management LLC boosted its position 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 valued at $30,000 after buying an additional 166 shares in the last quarter. Finally, Heritage Wealth Advisors acquired a new stake in Bank of New York Mellon in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Buying and Selling

In other Bank of New York Mellon news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total value of $4,095,000.00. Following the sale, the executive vice president owned 50,238 shares in the company, valued at approximately $6,857,487. The trade was a 37.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alejandro Perez sold 12,504 shares of the stock in a transaction dated Friday, April 17th. The shares were 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. The trade was a 16.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 48,091 shares of company stock valued at $6,568,423 in the last quarter. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on BNY shares. JPMorgan Chase & Co. upped their price target on shares of 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. Barclays raised their price objective on Bank of New York Mellon from $143.00 to $149.00 and gave the company an “overweight” rating in a report on Friday, April 17th. Royal Bank Of Canada boosted 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 research report on Friday, April 17th. Evercore set a $136.00 target price on Bank of New York Mellon in a report on Friday, April 17th. Finally, Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $138.08.

Bank of New York Mellon Trading Up 0.0%

BNY opened at $143.64 on Friday. 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 fifty-two week low of $87.41 and a fifty-two week high of $148.13. The company’s 50 day moving average price is $137.17 and its two-hundred day moving average price is $124.97. The firm has a market capitalization of $98.59 billion, a price-to-earnings ratio of 17.80, a PEG ratio of 1.05 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.94 by $0.31. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate 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 company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 earnings per share. As a group, research analysts predict that Bank of New York Mellon Corporation will post 8.78 earnings per share 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. 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 yield of 1.5%. The ex-dividend date was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio is presently 26.27%.

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.