9,131 Bank of New York Mellon Corporation $BNY Shares Acquired by Ferguson Wellman Capital Management Inc.

Key Points

• Ferguson Wellman Capital Management increased its BNY position by 36.9% in the third quarter, acquiring 9,131 shares and bringing its holdings to 33,890 shares valued at approximately $4.9 million. Institutional investors collectively own 85.31% of the company.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $161.23. Several firms recently raised their price targets, including Keefe, Bruyette & Woods, Bank of America, and JPMorgan.
• BNY reported quarterly EPS of $2.46, beating estimates by $0.30, while revenue of $5.70 billion exceeded expectations and rose 13.3% year over year. Insiders, however, sold 38,840 shares worth about $6.03 million over the past 90 days.

Ferguson Wellman Capital Management Inc. raised its position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 36.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,890 shares of the bank's stock after buying an additional 9,131 shares during the quarter. Ferguson Wellman Capital Management Inc.'s holdings in Bank of New York Mellon were worth $4,902,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in BNY. Cornerstone Financial Management LLC boosted its holdings in Bank of New York Mellon by 11.4% in the 2nd quarter. Cornerstone Financial Management LLC now owns 784 shares of the bank's stock worth $113,000 after buying an additional 80 shares during the period. Nemes Rush Group LLC raised its holdings in Bank of New York Mellon by 12.8% during the 4th quarter. Nemes Rush Group LLC now owns 813 shares of the bank's stock valued at $94,000 after acquiring an additional 92 shares during the period. MCF Advisors LLC lifted its position in shares of Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank's stock worth $27,000 after acquiring an additional 101 shares in the last quarter. Endeavor Private Wealth Inc. lifted its position in shares of Bank of New York Mellon by 0.7% during the fourth quarter. Endeavor Private Wealth Inc. now owns 15,469 shares of the bank's stock worth $1,796,000 after acquiring an additional 113 shares in the last quarter. Finally, Eastern Bank lifted its position in shares of Bank of New York Mellon by 12.4% during the third quarter. Eastern Bank now owns 1,043 shares of the bank's stock worth $151,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on BNY. Keefe, Bruyette & Woods raised their target price on 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. 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. Erste Group Bank began coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They issued a "buy" rating on the stock. Bank of America raised their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Bank of New York Mellon from $159.00 to $161.00 and gave the company an "overweight" rating in a research note on Friday. One research 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $161.23.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $143.82 on Tuesday. The firm's fifty day moving average price is $157.32 and its 200-day moving average price is $144.91. 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 stock has a market cap of $97.58 billion, a P/E ratio of 16.74, a price-to-earnings-growth ratio of 1.09 and a beta of 1.06. Bank of New York Mellon Corporation has a fifty-two week low of $103.11 and a fifty-two week high of $165.84.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.30. The company had revenue of $5.70 billion during the quarter, compared to analyst estimates 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 firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 earnings per share. On average, equities research analysts expect that Bank of New York Mellon Corporation will post 9.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Jose Minaya sold 3,520 shares of the company's stock in a transaction on Monday, September 28th. The shares were sold at an average price of $148.79, for a total value 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 represents a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The SEC filing for this sale provides additional information. Insiders sold a total of 38,840 shares of company stock valued at $6,033,502 in the last ninety days. 0.17% of the stock is owned by corporate insiders.

About Bank of New York Mellon

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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