Dynamic Technology Lab Private Ltd Purchases New Stake in Bank of New York Mellon Corporation $BNY

Dynamic Technology Lab Private Ltd bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 26,362 shares of the bank’s stock, valued at approximately $3,060,000. Bank of New York Mellon accounts for approximately 0.7% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 5th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. bought a new position in Bank of New York Mellon in the 4th quarter valued at about $27,000. MCF Advisors LLC boosted its position in shares of Bank of New York Mellon by 74.8% during 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 in the last quarter. Marquette Asset Management LLC boosted its position in shares of 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 valued at $30,000 after purchasing an additional 166 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $46,000. Finally, Dunhill Financial LLC boosted its position in shares of Bank of New York Mellon by 130.8% during the 3rd quarter. Dunhill Financial LLC now owns 427 shares of the bank’s stock valued at $47,000 after purchasing an additional 242 shares in the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Kurtis R. Kurimsky sold 5,290 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $136.02, for a total value of $719,545.80. Following the completion of the transaction, the insider directly owned 17,259 shares of the company’s stock, valued at $2,347,569.18. The trade was a 23.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 shares were sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the transaction, the vice president directly owned 15,206 shares of the company’s stock, valued at $2,083,982.30. This represents a 1.92% decrease in their ownership of the stock. 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 Trading Up 1.2%

Shares of Bank of New York Mellon stock opened at $143.74 on Friday. The company’s fifty day simple moving average is $135.19 and its 200-day simple moving average is $123.80. The company has a market cap of $98.66 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 1.04 and a beta of 1.07. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. Bank of New York Mellon Corporation has a 1 year low of $87.41 and a 1 year high of $145.02.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Thursday, April 16th. The bank reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. The firm had revenue of $5.41 billion for 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 business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.58 earnings per share. As a group, sell-side analysts expect 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 declared 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 of this dividend was Monday, April 27th. Bank of New York Mellon’s payout ratio is currently 26.27%.

Wall Street Analyst Weigh In

BNY has been the subject of several research reports. Royal Bank Of Canada raised their price objective on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the company a “sector perform” rating in a research report on Friday, April 17th. Truist Financial raised their price objective on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Weiss Ratings upgraded shares of Bank of New York Mellon from a “buy (a-)” rating to a “buy (a)” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their price objective on shares of Bank of New York Mellon from $130.50 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. Finally, Morgan Stanley raised 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 research report on Friday, April 17th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.