Bank of New York Mellon Sees Unusually Large Options Volume (NYSE:BNY)

Key Points

• BNY saw unusually heavy put-option activity: Investors acquired 30,335 put options, an 782% increase over the average daily volume of 3,438.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $157.13, despite some rating adjustments. Major firms including Argus and Barclays recently raised their targets.
• Strong quarterly results supported the stock: BNY reported $2.46 in EPS and $5.70 billion in revenue, exceeding estimates, while revenue rose 13.3% year over year. Shares traded near $163.80, close to their 52-week high.

Bank of New York Mellon Corporation (NYSE:BNY - Get Free Report) saw unusually large options trading activity on Tuesday. Investors acquired 30,335 put options on the company. This represents an increase of 782% compared to the average daily volume of 3,438 put options.

Insiders Place Their Bets

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the company's stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.17% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bank of New York Mellon

Large investors have recently made changes to their positions in the company. EFG International AG purchased a new position in shares of Bank of New York Mellon in the second quarter worth approximately $29,000. Burnham & Co LLC bought a new stake in Bank of New York Mellon during the second quarter valued at approximately $29,000. Abound Financial LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at approximately $25,000. N.E.W. Advisory Services LLC purchased a new stake in Bank of New York Mellon during the second quarter valued at approximately $32,000. Finally, MCF Advisors LLC raised its position in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank's stock worth $27,000 after acquiring an additional 101 shares during the period. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BNY has been the subject of a number of research analyst reports. Argus lifted their target price on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Barclays increased their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. boosted their target price on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Weiss Ratings cut shares of Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday. Finally, Wells Fargo & Company raised their price target on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of "Moderate Buy" and a consensus target price of $157.13.

Bank of New York Mellon Stock Performance

BNY traded down $0.47 during mid-day trading on Tuesday, reaching $163.80. 2,016,236 shares of the company traded hands, compared to its average volume of 3,737,114. The company's fifty day moving average price is $152.84 and its 200-day moving average price is $135.92. The stock has a market capitalization of $111.14 billion, a P/E ratio of 19.07, a P/E/G ratio of 1.16 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon has a 52-week low of $99.67 and a 52-week high of $165.68.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the business posted $1.93 EPS. The company's revenue for the quarter was up 13.3% on a year-over-year basis. On average, sell-side analysts expect that Bank of New York Mellon will post 9.26 EPS for the current year.

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.

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