20,833 Bank of New York Mellon Corporation $BNY Shares Acquired by Vest Financial LLC

Key Points

• Vest Financial increased its BNY position by 3.9%, acquiring 20,833 shares for a total holding of 549,065 shares valued at approximately $79.4 million. Institutional investors collectively own 85.31% of the company.
• BNY reported quarterly EPS of $2.37, beating estimates of $2.26, while revenue rose 11.7% year over year to $5.68 billion. Analysts expect full-year EPS of about $9.35.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $164.62, although company insiders sold 38,840 shares worth roughly $6.0 million over the past 90 days.

Vest Financial LLC increased its position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 3.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 549,065 shares of the bank's stock after acquiring an additional 20,833 shares during the quarter. Bank of New York Mellon accounts for about 0.8% of Vest Financial LLC's holdings, making the stock its 25th largest position. Vest Financial LLC owned approximately 0.08% of Bank of New York Mellon worth $79,411,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at $1,128,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Bank of New York Mellon in the second quarter worth $13,234,000. Engineers Gate Manager LP purchased a new position in shares of Bank of New York Mellon during the second quarter valued at $1,264,000. Corient Private Wealth LP purchased a new position in shares of Bank of New York Mellon during the second quarter valued at $48,434,000. Finally, HB Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the second quarter valued at $6,238,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 1.2%

BNY stock opened at $146.05 on Thursday. Bank of New York Mellon Corporation has a 12-month low of $105.36 and a 12-month high of $165.84. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a market cap of $99.09 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.04 and a beta of 1.06. The company has a 50 day moving average of $153.70 and a two-hundred day moving average of $147.07.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.26 by $0.11. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The company had revenue of $5.68 billion during the quarter. Bank of New York Mellon's quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Bank of New York Mellon Corporation will post 9.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction on Monday, September 28th. The stock was sold at an average price of $148.79, for a total transaction of $523,740.80. Following the completion of the sale, the vice president owned 176,824 shares of the company's stock, valued at approximately $26,309,642.96. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,840 shares of company stock worth $6,033,502 over the last ninety days. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BNY has been the topic of several recent analyst reports. TD Cowen started coverage on Bank of New York Mellon in a research report on Thursday, October 8th. They set a "hold" rating and a $160.00 price target on the stock. Bank of America raised their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. Citigroup decreased their price objective on Bank of New York Mellon from $160.00 to $157.00 and set a "neutral" rating for the company in a research report on Monday. JPMorgan Chase & Co. lifted their target price on Bank of New York Mellon from $159.00 to $161.00 and gave the company an "overweight" rating in a research note on Friday, October 2nd. Finally, New Street Research set a $182.00 target price on Bank of New York Mellon in a report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and a consensus price target of $164.62.

Bank of New York Mellon Company 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.

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