First National Bank of Omaha Acquires Shares of 117,779 Bank of New York Mellon Corporation $BNY

Key Points

• First National Bank of Omaha acquired 117,779 shares of Bank of New York Mellon in the second quarter, valued at approximately $16.96 million. Institutional investors collectively own 85.31% of the stock.
• Analysts maintain a generally positive outlook, with the stock receiving a consensus “Moderate Buy” rating and an average price target of $157.13, despite shares opening at $163.80.
• BNY exceeded quarterly expectations, reporting $2.46 in earnings per share and $5.70 billion in revenue, up 13.3% year over year; however, its CFO sold 31,800 shares worth about $4.94 million.

First National Bank of Omaha bought a new position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 117,779 shares of the bank's stock, valued at approximately $16,963,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Abound Financial LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $25,000. MCF Advisors LLC increased its holdings in 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 acquiring an additional 101 shares during the period. Heritage Wealth Advisors bought a new position in Bank of New York Mellon in the 4th quarter valued at $31,000. Wilkerson Advisory Group LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth $32,000. 85.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BNY has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Royal Bank Of Canada raised their price target 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. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $152.00 to $162.00 and gave the company an "equal weight" rating in a research report on Thursday, July 16th. Zacks Research raised Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Finally, Erste Group Bank began coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a "buy" rating on the stock. Two 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, the company has an average rating of "Moderate Buy" and a consensus price target of $157.13.

Bank of New York Mellon Trading Down 0.3%

Shares of BNY stock opened at $163.80 on Wednesday. The business has a 50-day moving average of $152.84 and a 200 day moving average of $135.92. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon Corporation has a 1-year low of $99.67 and a 1-year high of $165.68. The stock has a market capitalization of $111.14 billion, a PE ratio of 19.07, a P/E/G ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its quarterly 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 business had revenue of $5.70 billion for the quarter, compared to analysts' expectations of $5.35 billion. During the same period in the previous year, the firm earned $1.93 EPS. The business's quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts anticipate 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 related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction on 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 filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by insiders.

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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