Equitable Holdings Inc. Takes $3.82 Million Position in Bank of New York Mellon Corporation $BNY

Key Points

• Equitable Holdings acquired 26,432 shares of Bank of New York Mellon worth approximately $3.82 million in the second quarter. Several other institutional investors also initiated positions, and institutions now own 85.31% of BNY’s stock.
• BNY reported quarterly EPS of $2.46, beating estimates of $2.16, while revenue rose 13.3% year over year to $5.70 billion. Analysts project full-year EPS of $9.26.
• The stock opened at $162.28, near its 52-week high of $165.68. Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $157.13.

Equitable Holdings Inc. purchased a new position in 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 (SEC). The firm purchased 26,432 shares of the bank's stock, valued at approximately $3,822,000.

A number of other hedge funds also recently modified their holdings of BNY. Centaurus Financial Inc. acquired a new position in Bank of New York Mellon in the second quarter valued at about $981,000. Coastal Bridge Advisors LLC acquired a new stake in Bank of New York Mellon during the second quarter worth about $483,000. Jefferies Financial Group Inc. bought a new position in Bank of New York Mellon in the 2nd quarter valued at about $36,904,000. Public Employees Retirement System of Ohio bought a new position in Bank of New York Mellon in the 2nd quarter valued at about $40,480,000. Finally, MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $1,257,000. Institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Trading Down 0.5%

BNY opened at $162.28 on Friday. The company's 50 day moving average is $155.35 and its 200-day moving average is $137.89. Bank of New York Mellon Corporation has a 1-year low of $102.63 and a 1-year high of $165.68. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The company has a market cap of $110.11 billion, a P/E ratio of 18.89, a PEG ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.16 by $0.30. The business 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 firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.93 EPS. Equities research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Analyst Ratings Changes

BNY has been the subject of a number of recent analyst reports. Erste Group Bank began coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They set a "buy" rating for the company. Citigroup lifted their price objective on shares of 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. Truist Financial boosted 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. Wall Street Zen upgraded Bank of New York Mellon to a "hold" rating in a research note on Saturday, May 23rd. Finally, Royal Bank Of Canada raised 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 report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of "Moderate Buy" and an average price target of $157.13.

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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