Canada Pension Plan Investment Board bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,419,315 shares of the bank's stock, valued at approximately $205,247,000. Canada Pension Plan Investment Board owned approximately 0.21% of Bank of New York Mellon as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Abound Financial LLC acquired a new stake in shares of Bank of New York Mellon in the 4th quarter valued at approximately $25,000. MCF Advisors LLC increased its holdings in 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 buying an additional 101 shares during the last quarter. Burnham & Co LLC bought a new stake in Bank of New York Mellon during the second quarter worth $29,000. Heritage Wealth Advisors bought a new stake in Bank of New York Mellon during the fourth quarter worth $31,000. Finally, Wilkerson Advisory Group LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $31,000. 85.31% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Wall Street Zen raised shares of Bank of New York Mellon to a "hold" rating in a research report on Saturday, May 23rd. Barclays raised 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 note on Thursday, July 16th. Zacks Research upgraded Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Argus boosted their price target on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Two 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 MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $157.13.
Read Our Latest Stock Analysis on BNY
Insider Transactions at Bank of New York Mellon
In other news, CFO Dermot Mcdonogh sold 31,800 shares of the business'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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by company insiders.
Bank of New York Mellon Stock Performance
NYSE BNY opened at $163.31 on Thursday. The firm has a 50-day moving average of $154.98 and a 200-day moving average of $137.62. 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 $110.81 billion, a PE ratio of 19.01, a P/E/G ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.68.
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 analysts' consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion for 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%. Bank of New York Mellon's quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.93 EPS. On average, sell-side analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.
About Bank of New York Mellon
(
Free Report)
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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