Live Oak Investment Partners Invests $2.48 Million in Bank of New York Mellon Corporation $BNY

Key Points

• Live Oak Investment Partners acquired 17,157 BNY shares worth approximately $2.48 million in the second quarter, making the bank 1.3% of its portfolio. Institutional investors collectively own 85.31% of BNY.
• Analysts maintain a generally positive outlook, with BNY receiving a consensus “Moderate Buy” rating and an average price target of $157.13; individual targets range as high as $180.
• BNY exceeded quarterly expectations, reporting $2.46 in EPS and $5.70 billion in revenue, with revenue up 13.3% year over year. The CFO separately sold 31,800 shares for about $4.94 million.

Live Oak Investment Partners acquired a new position 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 acquired 17,157 shares of the bank's stock, valued at approximately $2,481,000. Bank of New York Mellon accounts for approximately 1.3% of Live Oak Investment Partners' investment portfolio, making the stock its 21st biggest position.

Other institutional investors have also recently made changes to their positions in the company. Focus Partners Advisor Solutions LLC acquired a new position in Bank of New York Mellon in the 2nd quarter worth about $1,128,000. CIBC Asset Management Inc boosted its position in Bank of New York Mellon by 53.8% during the fourth quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank's stock worth $21,129,000 after purchasing an additional 63,627 shares in the last quarter. Todd Asset Management LLC grew its holdings in Bank of New York Mellon by 37.5% in the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank's stock valued at $43,069,000 after purchasing an additional 101,142 shares during the period. Prospera Financial Services Inc increased its position in shares of Bank of New York Mellon by 106.5% in the fourth quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank's stock valued at $2,220,000 after buying an additional 9,865 shares in the last quarter. Finally, Bellars Harris Wealth Management LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $10,324,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business's stock in a transaction dated 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 document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BNY shares. Royal Bank Of Canada increased 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. Citigroup boosted their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a "neutral" rating in a report on Monday, July 20th. Keefe, Bruyette & Woods upped 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. Argus increased their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings lowered shares of Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research report on Thursday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.13.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $159.88 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The stock's 50 day simple moving average is $153.24 and its 200-day simple moving average is $136.19. The company has a market cap of $108.48 billion, a PE ratio of 18.61, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 1-year low of $99.67 and a 1-year high of $165.68.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $5.70 billion during the quarter, compared to analysts' expectations 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. As a group, equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

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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