Edmond DE Rothschild Holding S.A. Takes Position in Bank of New York Mellon Corporation $BNY

Key Points

• Edmond DE Rothschild Holding acquired 7,537 BNY shares worth approximately $1.09 million in the second quarter. Institutional investors collectively own 85.31% of the company, with BlackRock, Norges Bank, UBS, and Deutsche Bank also reporting significant positions.
• Analyst sentiment remains positive, with BNY carrying a “Moderate Buy” consensus rating and an average price target of $157.13. Recent price targets range from $162 to $172, although several firms maintain neutral or sector-perform ratings.
• BNY exceeded quarterly expectations, reporting $2.46 in earnings per share and $5.70 billion in revenue, up 13.3% year over year. Shares opened at $157.61, near the company’s 52-week high of $165.68, while CFO Dermot McDonogh sold 31,800 shares.

Edmond DE Rothschild Holding S.A. purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,537 shares of the bank's stock, valued at approximately $1,090,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in Bank of New York Mellon during the 2nd quarter worth about $8,321,111,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock worth $2,283,514,000 after acquiring an additional 19,561,793 shares during the last quarter. Norges Bank bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Bank of New York Mellon by 639.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank's stock worth $771,080,000 after purchasing an additional 6,119,749 shares in the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Bank of New York Mellon during the second quarter worth approximately $576,055,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They set a "buy" rating on the stock. Weiss Ratings downgraded Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. Citigroup increased their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the company a "neutral" rating in a research report on Monday, July 20th. Royal Bank Of Canada lifted their target price on Bank of New York Mellon from $142.00 to $168.00 and gave the company a "sector perform" rating in a research note on Thursday, July 16th. Finally, Wells Fargo & Company boosted their target price on 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 assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average price target of $157.13.

Bank of New York Mellon Stock Down 1.3%

Shares of NYSE:BNY opened at $157.61 on Friday. Bank of New York Mellon Corporation has a one year low of $100.44 and a one year high of $165.68. The company has a 50 day moving average of $153.55 and a 200-day moving average of $136.46. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $106.94 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 1.13 and a beta of 1.06.

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 earnings per share for the quarter, topping analysts' consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the firm posted $1.93 earnings per share. Bank of New York Mellon's revenue for the quarter was up 13.3% compared to the same quarter last year. On average, sell-side analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the company's stock in a transaction on Wednesday, July 29th. The shares were 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 accessible through this hyperlink. Insiders own 0.17% of the company's stock.

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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