Amundi Makes New Investment in Bank of New York Mellon Corporation $BNY

Key Points

• Amundi acquired 6.82 million shares of Bank of New York Mellon in the second quarter, valued at approximately $985.5 million and representing about 1% of the company.
• BNY reported strong quarterly results, with EPS of $2.46 beating estimates by $0.30 and revenue rising 13.3% year over year to $5.70 billion.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating; several firms raised their price targets to between $168 and $178.

Amundi acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 6,815,110 shares of the bank's stock, valued at approximately $985,533,000. Amundi owned approximately 1.00% of Bank of New York Mellon at the end of the most recent reporting period.

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

Bank of New York Mellon Price Performance

Shares of BNY stock opened at $165.05 on Monday. Bank of New York Mellon Corporation has a twelve month low of $102.63 and a twelve month high of $165.84. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock has a fifty day simple moving average of $157.46 and a two-hundred day simple moving average of $139.65. The stock has a market capitalization of $111.99 billion, a price-to-earnings ratio of 19.21, a P/E/G ratio of 1.24 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS 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 firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm posted $1.93 earnings per share. The business's revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have commented on BNY shares. Zacks Research raised shares of Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 22nd. Bank of America upped their target price 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. Royal Bank Of Canada increased their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a "sector perform" rating in a report on Thursday, July 16th. Weiss Ratings lowered Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research report on Thursday, August 13th. Finally, Barclays boosted 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 issued a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon has a consensus rating of "Moderate Buy" and an average target price of $157.13.

Insider Transactions at Bank of New York Mellon

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

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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