Stenger Family Office LLC Purchases 5,498 Shares of Bank of New York Mellon Corporation $BNY

Stenger Family Office LLC grew its position in Bank of New York Mellon Corporation (NYSE:BNY) by 85.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,928 shares of the bank’s stock after purchasing an additional 5,498 shares during the quarter. Stenger Family Office LLC’s holdings in Bank of New York Mellon were worth $1,385,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Abound Financial LLC acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Bank of New York Mellon in the 4th quarter valued at $27,000. MCF Advisors LLC increased its position in Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares during the period. Marquette Asset Management LLC increased its position in Bank of New York Mellon by 174.7% during the 4th quarter. Marquette Asset Management LLC now owns 261 shares of the bank’s stock worth $30,000 after buying an additional 166 shares during the period. Finally, Heritage Wealth Advisors acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $31,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BNY shares. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. JPMorgan Chase & Co. raised 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 research report on Monday, May 11th. Keefe, Bruyette & Woods lifted their price objective on shares of Bank of New York Mellon from $143.00 to $150.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Morgan Stanley boosted their price objective on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the company an “equal weight” rating in a report on Friday, April 17th. Finally, Royal Bank Of Canada increased their target price on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.08.

Bank of New York Mellon Stock Up 0.0%

NYSE BNY opened at $143.64 on Friday. The business has a fifty day moving average price of $137.17 and a two-hundred day moving average price of $124.97. 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 stock has a market capitalization of $98.59 billion, a PE ratio of 17.80, a PEG 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 for the quarter, beating 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 firm had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.14 billion. During the same quarter last year, the business posted $1.58 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. Equities analysts expect 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a $0.53 dividend. The ex-dividend date of this dividend was Monday, April 27th. This represents a $2.12 annualized dividend and a yield of 1.5%. Bank of New York Mellon’s dividend payout ratio (DPR) is 26.27%.

Insiders Place Their Bets

In other Bank of New York Mellon news, VP Shannon Marie Hobbs sold 297 shares of the business’s stock in a transaction dated 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 owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. The trade was a 1.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP J Kevin Mccarthy sold 30,000 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the completion of the transaction, the executive vice president directly owned 50,238 shares of the company’s stock, valued at $6,857,487. This trade represents a 37.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, 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 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.