Peapack Gladstone Financial Corp Has $3.39 Million Stock Position in Bank of New York Mellon Corporation $BNY

Peapack Gladstone Financial Corp lowered its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 16.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,184 shares of the bank’s stock after selling 5,579 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Bank of New York Mellon were worth $3,388,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in BNY. Northwestern Mutual Wealth Management Co. increased its position in shares of Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after purchasing an additional 19,561,793 shares in the last quarter. Norges Bank acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Bank of New York Mellon by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after purchasing an additional 6,119,749 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Bank of New York Mellon by 18.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 13,345,266 shares of the bank’s stock worth $1,454,116,000 after purchasing an additional 2,034,781 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth about $227,437,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BNY has been the subject of a number of recent analyst reports. Morgan Stanley increased their target price on shares of Bank of New York Mellon from $135.00 to $139.00 and gave the stock an “equal weight” rating in a research report on Friday, April 17th. Truist Financial increased their target price on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Royal Bank Of Canada increased their price objective on shares of Bank of New York Mellon from $130.00 to $142.00 and gave the stock a “sector perform” rating in a report on Friday, April 17th. Citigroup initiated coverage on shares of Bank of New York Mellon in a report on Monday, February 23rd. They set a “neutral” rating on the stock. Finally, JPMorgan Chase & Co. increased 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $138.08.

Bank of New York Mellon Stock Up 0.1%

Shares of NYSE:BNY opened at $142.71 on Wednesday. Bank of New York Mellon Corporation has a 12 month low of $87.41 and a 12 month high of $143.95. The company’s 50-day moving average price is $130.63 and its two-hundred day moving average price is $121.77. 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 firm has a market cap of $97.95 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.04 and a beta of 1.07.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Thursday, April 16th. The bank reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.31. Bank of New York Mellon had a net margin of 14.60% and a return on equity of 15.29%. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.14 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. The company’s revenue was up 12.9% on a year-over-year basis. As a group, research analysts forecast that Bank of New York Mellon Corporation will post 8.78 EPS for the current fiscal year.

Bank of New York Mellon Dividend Announcement

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. This represents a $2.12 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, April 27th. Bank of New York Mellon’s dividend payout ratio (DPR) is 26.27%.

Insider Buying and Selling at Bank of New York Mellon

In other news, EVP Alejandro Perez sold 12,504 shares of the firm’s 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 transaction, the executive vice president owned 62,613 shares of the company’s stock, valued at approximately $8,578,607.13. This trade represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Shannon Marie Hobbs sold 297 shares of the firm’s stock in a transaction dated Friday, April 17th. The shares were 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 directly owned 15,206 shares in the company, valued at $2,083,982.30. This trade represents a 1.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 48,091 shares of company stock worth $6,568,423 over the last quarter. 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.