EP Wealth Advisors LLC Takes $1.97 Million Position in Bank of New York Mellon Corporation $BNY

EP Wealth Advisors LLC bought a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,650 shares of the bank's stock, valued at approximately $1,974,000.

A number of other large investors also recently modified their holdings of BNY. Ieq Capital LLC bought a new stake in Bank of New York Mellon during the second quarter valued at about $8,907,000. Burnham & Co LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth about $29,000. Callan Family Office LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth about $16,237,000. Laidlaw Wealth Management LLC purchased a new stake in shares of Bank of New York Mellon during the second quarter worth about $562,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Bank of New York Mellon during the second quarter worth about $654,000. Hedge funds and other institutional investors own 85.31% of the company's stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred 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 filing with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Trading Up 0.9%

Shares of Bank of New York Mellon stock opened at $158.72 on Friday. Bank of New York Mellon Corporation has a twelve month low of $101.71 and a twelve month high of $165.68. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The business has a 50-day moving average price of $153.85 and a 200-day moving average price of $136.61. The firm has a market cap of $107.69 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.12 and a beta of 1.06.

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

Analyst Ratings Changes

Several brokerages recently issued reports on BNY. Citigroup lifted their target price on Bank of New York Mellon from $167.00 to $172.00 and gave the company a "neutral" rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods upped their price target on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Wall Street Zen raised shares of Bank of New York Mellon to a "hold" rating in a report on Saturday, May 23rd. Truist Financial lifted their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a "buy" rating in a research report on Thursday, July 16th. Finally, Zacks Research raised shares of Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $157.13.

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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