8,859 Bank of New York Mellon Corporation $BNY Shares Acquired by Venture Visionary Partners LLC

Key Points

• Venture Visionary Partners increased its BNY holdings by 413.8% in the third quarter, acquiring 8,859 shares for a total of 11,000 shares valued at approximately $1.59 million. Institutional investors collectively own 85.31% of the company.
• BNY insiders sold 38,840 shares worth approximately $6.03 million over the past three months, while insiders retain just 0.17% of the company’s stock.
• The bank’s latest quarterly results exceeded expectations, with EPS of $2.46 versus the $2.16 consensus and revenue of $5.70 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $161.23.

Venture Visionary Partners LLC boosted its holdings in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 413.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,000 shares of the bank's stock after buying an additional 8,859 shares during the quarter. Venture Visionary Partners LLC's holdings in Bank of New York Mellon were worth $1,591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Elevation Wealth Partners LLC raised its stake in Bank of New York Mellon by 99.3% during the third quarter. Elevation Wealth Partners LLC now owns 534 shares of the bank's stock worth $83,000 after acquiring an additional 266 shares in the last quarter. Elm3 Financial Group LLC acquired a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $394,000. Canandaigua National Bank & Trust Co. boosted its stake in shares of Bank of New York Mellon by 11.7% in the 3rd quarter. Canandaigua National Bank & Trust Co. now owns 9,595 shares of the bank's stock valued at $1,492,000 after purchasing an additional 1,002 shares in the last quarter. First Community Trust NA grew its holdings in shares of Bank of New York Mellon by 80.8% during the 3rd quarter. First Community Trust NA now owns 1,566 shares of the bank's stock valued at $226,000 after purchasing an additional 700 shares during the last quarter. Finally, Congress Asset Management Co. grew its holdings in shares of Bank of New York Mellon by 21.3% during the 3rd quarter. Congress Asset Management Co. now owns 121,188 shares of the bank's stock valued at $17,527,000 after purchasing an additional 21,280 shares during the last quarter. Institutional investors own 85.31% of the company's stock.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the firm's stock in a transaction on Monday, September 28th. The stock was sold at an average price of $148.79, for a total value of $523,740.80. Following the transaction, the vice president directly owned 176,824 shares of the company's stock, valued at approximately $26,309,642.96. This represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 38,840 shares of company stock worth $6,033,502. 0.17% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Down 0.8%

BNY opened at $142.65 on Thursday. Bank of New York Mellon Corporation has a fifty-two week low of $103.11 and a fifty-two week high of $165.84. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $96.79 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.12 and a beta of 1.06. The company's 50 day moving average price is $156.87 and its two-hundred day moving average price is $145.31.

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. As a group, research analysts predict that Bank of New York Mellon Corporation will post 9.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

BNY has been the subject of several research reports. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an "equal weight" rating in a research note on Thursday, July 16th. Truist Financial decreased their target price on shares of Bank of New York Mellon from $178.00 to $172.00 and set a "buy" rating on the stock in a research note on Friday, September 25th. Royal Bank Of Canada upped their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a "sector perform" rating in a report on Thursday, July 16th. Argus increased their price target on Bank of New York Mellon from $153.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the company an "outperform" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $161.23.

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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