Kingsview Wealth Management LLC Buys Shares of 17,895 Bank of New York Mellon Corporation $BNY

Key Points

• Kingsview Wealth Management purchased 17,895 shares of Bank of New York Mellon valued at approximately $2.6 million, while institutional investors collectively own 85.31% of the stock.
• BNY reported quarterly EPS of $2.46, beating estimates of $2.16, as revenue rose 13.3% year over year to $5.70 billion.
• The stock opened at $162.50, near its 52-week high, and analysts maintain a “Moderate Buy” consensus with an average price target of $157.13; CFO Dermot McDonogh separately sold 31,800 shares.

Kingsview Wealth Management LLC purchased 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 disclosure with the SEC. The firm purchased 17,895 shares of the bank's stock, valued at approximately $2,588,000.

A number of other large investors have also recently made changes to their positions in BNY. Abound Financial LLC bought a new position in Bank of New York Mellon during the fourth quarter valued at approximately $25,000. MCF Advisors LLC boosted its holdings in Bank of New York Mellon by 74.8% in the fourth 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. Burnham & Co LLC bought a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $29,000. EFG International AG bought a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $29,000. Finally, Heritage Wealth Advisors purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $31,000. 85.31% of the stock is currently owned by institutional investors.

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 dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.17% of the company's stock.

Bank of New York Mellon Stock Up 0.2%

BNY opened at $162.50 on Friday. The firm's 50 day simple moving average is $155.73 and its two-hundred day simple moving average is $138.06. The company has a market capitalization of $110.26 billion, a PE ratio of 18.92, a PEG ratio of 1.15 and a beta of 1.06. 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.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) 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 the consensus estimate 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 company's revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.93 EPS. As a group, equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial increased their price target on Bank of New York Mellon from $160.00 to $178.00 and gave the company a "buy" rating in a report on Thursday, July 16th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Royal Bank Of Canada upped their price objective 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. Barclays increased their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Finally, Wall Street Zen raised Bank of New York Mellon to a "hold" rating in a research report on Saturday, May 23rd. 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. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus target price 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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