Mufg Securities Americas Inc. bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,697 shares of the bank's stock, valued at approximately $3,282,000.
A number of other hedge funds have also made changes to their positions in BNY. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $3,580,000. Nissay Asset Management Corp Japan acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $13,380,000. Lincoln Capital Corp purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $295,000. Hsbc Holdings PLC purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $255,681,000. Finally, Goodwin Investment Advisory acquired a new position in Bank of New York Mellon during the second quarter worth about $1,640,000. Hedge funds and other institutional investors own 85.31% of the company's stock.
Insider Activity at Bank of New York Mellon
In other news, CFO Dermot Mcdonogh sold 31,800 shares of the company'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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have issued reports on BNY. Erste Group Bank began coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They issued a "buy" rating on the stock. Zacks Research raised shares of Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 22nd. 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 research report on Thursday, July 16th. JPMorgan Chase & Co. upped their target price 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. Finally, Wall Street Zen upgraded Bank of New York Mellon to a "hold" rating in a report on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $157.13.
View Our Latest Stock Analysis on BNY
Bank of New York Mellon Price Performance
BNY stock opened at $162.50 on Friday. The stock has a market capitalization of $110.26 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.68. The stock's fifty day simple moving average is $155.73 and its 200-day simple moving average is $138.06.
Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating 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 analyst estimates of $5.35 billion. During the same period in the prior year, the firm posted $1.93 earnings per share. The business's quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.
About Bank of New York Mellon
(
Free Report)
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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