22,987 Shares in Bank of New York Mellon Corporation $BNY Acquired by Galaxy Digital Capital Management GP LLC

Galaxy Digital Capital Management GP LLC bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,987 shares of the bank's stock, valued at approximately $3,324,000. Bank of New York Mellon makes up about 1.6% of Galaxy Digital Capital Management GP LLC's investment portfolio, making the stock its 19th largest position.

Several other hedge funds also recently bought and sold shares of BNY. Abound Financial LLC acquired a new position in Bank of New York Mellon in the 4th quarter worth $25,000. MCF Advisors LLC raised its stake in shares of Bank of New York Mellon by 74.8% in 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 during the period. Burnham & Co LLC bought a new stake in shares of Bank of New York Mellon in the second quarter valued at about $29,000. Heritage Wealth Advisors bought a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $31,000. Finally, Wilkerson Advisory Group LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth about $31,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays increased their target price on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Wells Fargo & Company boosted their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. JPMorgan Chase & Co. raised their price objective on shares of 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. Truist Financial boosted their target price on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Finally, Weiss Ratings lowered Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $157.13.

Insider Activity at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon 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 document filed with the SEC, which can be accessed through this link. 0.17% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $163.76 on Wednesday. The business's 50-day moving average price is $154.63 and its 200-day moving average price is $137.32. Bank of New York Mellon Corporation has a 12 month low of $102.55 and a 12 month high of $165.68. The firm has a market capitalization of $111.11 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 1.15 and a beta of 1.06. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.

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, beating the consensus estimate of $2.16 by $0.30. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company's revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. Equities research analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

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.

Want to see what other hedge funds are holding BNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corporation (NYSE:BNY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source