7,174 Shares in Bank of New York Mellon Corporation $BNY Bought by Parallax Volatility Advisers L.P.

Parallax Volatility Advisers L.P. bought a new position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,174 shares of the bank's stock, valued at approximately $1,037,000.

A number of other large investors have also made changes to their positions in BNY. Linscomb Wealth Inc. increased its holdings in Bank of New York Mellon by 2.5% during the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank's stock valued at $376,000 after buying an additional 80 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Bank of New York Mellon by 3.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank's stock worth $326,000 after acquiring an additional 88 shares during the last quarter. Essex Financial Services Inc. grew its position in shares of Bank of New York Mellon by 0.5% during the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank's stock valued at $2,041,000 after acquiring an additional 89 shares during the period. Maia Wealth LLC increased its stake in shares of Bank of New York Mellon by 3.0% in the 4th quarter. Maia Wealth LLC now owns 3,049 shares of the bank's stock worth $350,000 after purchasing an additional 90 shares in the last quarter. Finally, Nemes Rush Group LLC increased its stake in shares of Bank of New York Mellon by 12.8% in the 4th quarter. Nemes Rush Group LLC now owns 813 shares of the bank's stock worth $94,000 after purchasing an additional 92 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insider Activity at Bank of New York Mellon

In other 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 shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on BNY. Weiss Ratings cut Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research report on Thursday, August 13th. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Citigroup lifted their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Zacks Research upgraded shares of Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Finally, Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 16th. 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. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $157.13.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $163.31 on Thursday. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.68. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm's fifty day moving average is $154.98 and its 200 day moving average is $137.62. The company has a market cap of $110.81 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 1.16 and a beta of 1.06.

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 for the quarter, beating the consensus estimate 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 company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the firm posted $1.93 EPS. Bank of New York Mellon's quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal 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.

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