Raiffeisen Bank International AG Buys Shares of 79,042 Bank of New York Mellon Corporation $BNY

Key Points

• Raiffeisen Bank International initiated a position in Bank of New York Mellon by purchasing 79,042 shares worth approximately $11.4 million during the second quarter. Institutional investors collectively own 85.31% of the company.
• BNY reported stronger-than-expected quarterly results, with earnings of $2.46 per share and revenue of $5.70 billion, up 13.3% year over year.
• Shares recently traded near their 52-week high at $164.19, while analysts maintain a “Moderate Buy” consensus and several firms raised their price targets, including Truist to $178 and Argus to $180.

Raiffeisen Bank International AG bought a new position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 79,042 shares of the bank's stock, valued at approximately $11,366,000.

A number of other large investors have also made changes to their positions in BNY. Luken Investment Analytics LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $27,000. EFG International AG purchased a new position in shares of Bank of New York Mellon in the second quarter worth approximately $29,000. Burnham & Co LLC bought a new stake in Bank of New York Mellon during the second quarter valued at approximately $29,000. Abound Financial LLC purchased a new stake in Bank of New York Mellon during the fourth quarter valued at approximately $25,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth $32,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Trading Up 1.3%

Shares of Bank of New York Mellon stock opened at $164.19 on Friday. The company has a market capitalization of $111.40 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The company has a fifty day moving average of $157.03 and a 200 day moving average of $139.31. Bank of New York Mellon Corporation has a fifty-two week low of $102.63 and a fifty-two week high of $165.68.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating 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 last year, the firm earned $1.93 earnings per share. The business's quarterly revenue was up 13.3% on a year-over-year basis. On average, sell-side analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Bank of New York Mellon to a "hold" rating in a research report on Saturday, May 23rd. Truist Financial raised their target price on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a "buy" rating in a report on Thursday, July 16th. Wells Fargo & Company lifted their target price 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. Argus boosted their price target on 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, Erste Group Bank assumed coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a "buy" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon has an average rating of "Moderate Buy" and an average price target of $157.13.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the sale, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. The trade was a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is currently owned by company insiders.

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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