8,886 Shares in Bank of New York Mellon Corporation $BNY Acquired by Wedmont Private Capital

Key Points

• Wedmont Private Capital acquired 8,886 shares of Bank of New York Mellon worth approximately $1.35 million in the second quarter. Institutional investors collectively own 85.31% of the company.
• BNY Mellon reported strong quarterly results, with earnings of $2.46 per share versus the $2.16 consensus estimate and revenue of $5.70 billion, up 13.3% year over year.
• The stock opened at $165.05 near its 52-week high, while analysts maintained a “Moderate Buy” consensus and an average price target of $157.13; company insiders also recently sold shares.

Wedmont Private Capital purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 8,886 shares of the bank's stock, valued at approximately $1,350,000.

A number of other large investors also recently modified their holdings of the company. Revolve Wealth Partners LLC purchased a new stake in Bank of New York Mellon during the 4th quarter worth about $220,000. Sivia Capital Partners LLC increased its holdings in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank's stock valued at $309,000 after acquiring an additional 909 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $2,482,000. Treasurer of the State of North Carolina raised its position in shares of Bank of New York Mellon by 1.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank's stock worth $30,466,000 after acquiring an additional 5,445 shares in the last quarter. Finally, Osterweis Capital Management Inc. lifted its stake in Bank of New York Mellon by 11,890.0% during the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank's stock worth $109,000 after purchasing an additional 1,189 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value of $572,492.80. Following the transaction, the vice president directly owned 180,344 shares in the company, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Up 0.1%

Shares of Bank of New York Mellon stock opened at $165.05 on Tuesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $111.99 billion, a P/E ratio of 19.21, a PEG ratio of 1.24 and a beta of 1.05. Bank of New York Mellon Corporation has a 1 year low of $102.63 and a 1 year high of $165.84. The company's fifty day moving average is $157.89 and its two-hundred day moving average is $139.97.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating analysts' consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The business had revenue of $5.70 billion during the quarter, compared to analysts' expectations of $5.35 billion. During the same period in the prior year, the company earned $1.93 earnings per share. The business's revenue was up 13.3% compared to the same quarter last year. Analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BNY shares. Weiss Ratings downgraded Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the stock a "buy" rating in a research report on Thursday, July 16th. Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They issued a "buy" rating for the company. Barclays increased their target price on shares of 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. Finally, JPMorgan Chase & Co. boosted their price target on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average price target of $157.13.

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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