First American Trust FSB Lowers Stock Position in Bank of New York Mellon Corporation $BNY

First American Trust FSB lowered its position in Bank of New York Mellon Corporation (NYSE:BNY) by 19.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,621 shares of the bank’s stock after selling 19,983 shares during the period. First American Trust FSB’s holdings in Bank of New York Mellon were worth $9,591,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Paragon Private Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $205,000. Alteri Wealth LLC raised its holdings in shares of Bank of New York Mellon by 7.7% in the fourth quarter. Alteri Wealth LLC now owns 5,230 shares of the bank’s stock valued at $607,000 after purchasing an additional 376 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its holdings in shares of Bank of New York Mellon by 6.1% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 14,672 shares of the bank’s stock valued at $1,703,000 after purchasing an additional 838 shares during the last quarter. Waddell & Associates LLC raised its holdings in shares of Bank of New York Mellon by 94.9% in the fourth quarter. Waddell & Associates LLC now owns 3,670 shares of the bank’s stock valued at $426,000 after purchasing an additional 1,787 shares during the last quarter. Finally, TIAA Trust National Association raised its holdings in shares of Bank of New York Mellon by 2.2% in the fourth quarter. TIAA Trust National Association now owns 26,063 shares of the bank’s stock valued at $3,026,000 after purchasing an additional 569 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on BNY shares. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Keefe, Bruyette & Woods raised 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 report on Friday, April 17th. JPMorgan Chase & Co. raised their price objective 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. Evercore set a $136.00 price objective on shares of Bank of New York Mellon in a report on Friday, April 17th. Finally, Morgan Stanley raised their price objective on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a report on Friday, April 17th. One 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $138.08.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $139.89 on Thursday. The company 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 quick ratio of 0.75 and a current ratio of 0.75. The company has a 50-day simple moving average of $134.27 and a 200 day simple moving average of $123.41. Bank of New York Mellon Corporation has a 52-week low of $87.41 and a 52-week high of $144.98.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping 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 was up 12.9% on a year-over-year basis. During the same quarter last year, the company earned $1.58 earnings per share. On average, 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 8th. Stockholders of record on Monday, April 27th were paid a $0.53 dividend. 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%.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP Alejandro Perez sold 12,504 shares of Bank of New York Mellon 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 transaction, the executive vice president owned 62,613 shares in the company, valued at $8,578,607.13. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of Bank of New York Mellon 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 $2,083,982.30. The trade was a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,091 shares of company stock worth $6,568,423 over the last three months. Company insiders own 0.17% of the company’s stock.

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.