Alpine Woods Capital Investors LLC Takes Position in Bank of New York Mellon Corporation $BNY

Key Points

• Alpine Woods Capital Investors acquired 35,724 shares of Bank of New York Mellon valued at approximately $5.17 million. Institutional investors collectively own 85.31% of the company.
• BNY reported strong quarterly results, with earnings of $2.46 per share and revenue of $5.70 billion, exceeding analyst estimates; revenue increased 13.3% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $157.13, while recent targets from Barclays and Keefe, Bruyette & Woods rose to $178 and $177, respectively.

Alpine Woods Capital Investors LLC acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 35,724 shares of the bank's stock, valued at approximately $5,166,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BNY. Vanguard Group Inc. increased its holdings in shares of Bank of New York Mellon by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank's stock valued at $8,279,525,000 after purchasing an additional 647,847 shares during the last quarter. BlackRock Inc. bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $8,321,111,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock worth $2,283,514,000 after buying an additional 19,561,793 shares during the period. Norges Bank bought a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $1,398,624,000. Finally, Invesco Ltd. boosted its stake in Bank of New York Mellon by 8.2% in the 4th quarter. Invesco Ltd. now owns 7,680,429 shares of the bank's stock valued at $891,621,000 after purchasing an additional 578,999 shares during the period. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Trading Down 0.3%

Shares of BNY stock opened at $163.80 on Wednesday. The stock's fifty day moving average price is $152.84 and its two-hundred day moving average price is $135.92. The company has a market cap of $111.14 billion, a PE ratio of 19.07, a P/E/G ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a fifty-two week low of $99.67 and a fifty-two week high of $165.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter in the previous year, the firm earned $1.93 EPS. Bank of New York Mellon's revenue was up 13.3% on a year-over-year basis. Equities analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.17% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Zacks Research upgraded Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 22nd. Weiss Ratings downgraded shares of 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 assumed coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a "buy" rating for the company. Keefe, Bruyette & Woods increased their price target on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. Finally, Barclays raised their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an "overweight" rating in a research note on Thursday, July 16th. 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 stock. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and an average target price 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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