denkapparat Operations GmbH Invests $956,000 in Bank of New York Mellon Corporation $BNY

Key Points

• denkapparat Operations GmbH initiated a roughly $956,000 position in Bank of New York Mellon during the second quarter, while institutional ownership reached 85.31%.
• Analysts remained broadly positive, with an average “Moderate Buy” rating and a consensus price target of $157.13; several firms recently raised their targets.
• BNY exceeded quarterly expectations, reporting $2.46 in earnings per share versus $2.16 expected and $5.70 billion in revenue, up 13.3% year over year.

denkapparat Operations GmbH bought a new position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,608 shares of the bank's stock, valued at approximately $956,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $89,285,000. Premier Path Wealth Partners LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $4,321,000. United Community Bank purchased a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $52,000. Lakeshore Financial Planning Inc. bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $201,000. Finally, Concurrent Investment Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter worth approximately $3,570,000. 85.31% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BNY. 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 lifted their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. Weiss Ratings lowered shares of Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 16th. Two equities 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.com, the company has an average rating of "Moderate Buy" and a consensus target price of $157.13.

Insider Transactions at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon 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 directly 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Up 1.3%

BNY opened at $164.19 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a 52 week low of $102.63 and a 52 week high of $165.68. The stock has a market cap of $111.40 billion, a PE ratio of 19.11, a PEG ratio of 1.22 and a beta of 1.05. The business has a 50 day moving average of $157.03 and a 200-day moving average of $139.31.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.30. The company had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The firm's revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.93 earnings per share. Equities research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

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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