Bank of New York Mellon Corporation $BNY Shares Newly Acquired by CenterBook Partners LP

Key Points

• CenterBook Partners acquired a new 18,120-share stake in BNY during the third quarter, valued at approximately $2.62 million; institutional investors collectively own 85.31% of the stock.
• BNY reported quarterly EPS of $2.37, beating the $2.26 consensus estimate, while revenue rose 11.7% year over year to $5.68 billion.
• Analysts assign the stock a “Moderate Buy” consensus rating and an average price target of $165.04. Company insiders sold 60,560 shares worth about $9.0 million over the past three months.

CenterBook Partners LP acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 18,120 shares of the bank's stock, valued at approximately $2,621,000.

Several other institutional investors have also modified their holdings of the stock. Oakworth Capital Inc. raised its position in shares of Bank of New York Mellon by 5.3% during the 3rd quarter. Oakworth Capital Inc. now owns 1,360 shares of the bank's stock worth $197,000 after purchasing an additional 68 shares during the last quarter. McGlone Suttner Wealth Management Inc. lifted its stake in Bank of New York Mellon by 0.8% in the 3rd quarter. McGlone Suttner Wealth Management Inc. now owns 10,071 shares of the bank's stock valued at $1,457,000 after buying an additional 77 shares in the last quarter. 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 last quarter. Physician Wealth Advisors Inc. boosted its holdings in Bank of New York Mellon by 49.5% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 272 shares of the bank's stock worth $39,000 after buying an additional 90 shares during the last quarter. Finally, Riversedge Advisors LLC boosted its holdings in Bank of New York Mellon by 3.1% in the 3rd quarter. Riversedge Advisors LLC now owns 3,035 shares of the bank's stock worth $439,000 after buying an additional 92 shares during the last quarter. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $147.92 on Friday. The company has a market cap of $99.54 billion, a P/E ratio of 16.34, a P/E/G ratio of 0.98 and a beta of 1.02. Bank of New York Mellon Corporation has a twelve month low of $105.42 and a twelve month high of $165.84. The company's 50-day moving average price is $150.26 and its 200-day moving average price is $139.94. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.11. The company had revenue of $5.68 billion during the quarter. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The firm's revenue was up 11.7% on a year-over-year basis. On average, sell-side analysts forecast that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BNY has been the subject of several research reports. Erste Group Bank initiated coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They set a "buy" rating for the company. Truist Financial decreased their target price on Bank of New York Mellon from $172.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday, October 16th. Weiss Ratings lowered Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday, August 13th. Royal Bank Of Canada boosted their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 16th. Finally, TD Cowen assumed coverage on Bank of New York Mellon in a research report on Thursday, October 8th. They set a "hold" rating and a $160.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $165.04.

Insider Buying and Selling

In other news, VP Jose Minaya sold 3,520 shares of the business's stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $147.81, for a total transaction of $520,291.20. Following the transaction, the vice president directly owned 173,304 shares in the company, valued at $25,616,064.24. The trade was a 1.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Robin Vince sold 40,620 shares of the company's stock in a transaction that occurred on Monday, October 26th. The shares were sold at an average price of $147.81, for a total value of $6,004,042.20. Following the completion of the sale, the chief executive officer owned 585,174 shares of the company's stock, valued at $86,494,568.94. This trade represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,560 shares of company stock worth $9,007,119 over the last three months. Corporate insiders own 0.17% of the company's stock.

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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