Endeavor Private Wealth Inc. Takes $2.37 Million Position in Bank of New York Mellon Corporation $BNY

Key Points

• Endeavor Private Wealth acquired 16,370 shares of Bank of New York Mellon worth approximately $2.37 million during the second quarter. Institutional investors collectively own 85.31% of the company.
• BNY reported quarterly earnings of $2.46 per share, beating estimates of $2.16, while revenue rose 13.3% year over year to $5.70 billion.
• Shares opened at $165.05, near their 52-week high of $165.84. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $157.13.

Endeavor Private Wealth Inc. acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 16,370 shares of the bank's stock, valued at approximately $2,367,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Abound Financial LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at $25,000. MCF Advisors LLC increased its position in shares of Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank's stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $27,000. Burnham & Co LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at about $29,000. Finally, EFG International AG acquired a new position in Bank of New York Mellon in the second quarter valued at about $29,000. Institutional investors and hedge funds own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 0.4%

Shares of BNY opened at $165.05 on Friday. The company's 50-day simple moving average is $157.46 and its 200-day simple moving average is $139.49. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. Bank of New York Mellon Corporation has a 1 year low of $102.63 and a 1 year high of $165.84. The stock has a market capitalization of $111.99 billion, a PE 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 data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating analysts' consensus estimates of $2.16 by $0.30. The firm had revenue of $5.70 billion during the quarter, compared to analysts' expectations of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The business's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.93 earnings per share. Analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BNY. Truist Financial increased their target price on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the stock a "buy" rating in a research note on Thursday, July 16th. Erste Group Bank began coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They issued a "buy" rating on the stock. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an "outperform" rating in a research report on Thursday, July 16th. Weiss Ratings downgraded 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, Royal Bank Of Canada boosted 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 report on Thursday, July 16th. Two investment 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $157.13.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jose Minaya sold 3,520 shares of the business's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value of $572,492.80. Following the transaction, the vice president directly owned 180,344 shares of the company's stock, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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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