Rothschild Capital Partners LLC Buys Shares of 6,819 Bank of New York Mellon Corporation $BNY

Key Points

• Rothschild Capital Partners acquired 6,819 Bank of New York Mellon shares worth approximately $986,000 during the second quarter. Hedge funds and other institutional investors collectively own 85.31% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $157.13; several firms recently raised their targets.
• BNY Mellon exceeded quarterly expectations, reporting $2.46 in EPS and $5.70 billion in revenue, up 13.3% year over year. Separately, CFO Dermot McDonogh sold 31,800 shares for about $4.94 million.

Rothschild Capital Partners LLC purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,819 shares of the bank's stock, valued at approximately $986,000.

Several other hedge funds also recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC acquired a new stake in Bank of New York Mellon during the second quarter worth $12,164,000. Ancora Advisors LLC purchased a new stake in Bank of New York Mellon in the second quarter valued at $198,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $1,867,000. Sigma Planning Corp purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth $852,000. Finally, Two Sigma Securities LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth $439,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on BNY shares. Argus upped their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a "buy" rating in a research report on Wednesday, July 22nd. Weiss Ratings lowered shares of Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a report on Thursday, August 13th. JPMorgan Chase & Co. lifted their target price on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. Finally, Zacks Research upgraded Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 22nd. Two equities research 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 company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $157.13.

Bank of New York Mellon Stock Performance

Shares of Bank of New York Mellon stock opened at $162.50 on Monday. Bank of New York Mellon Corporation has a one year low of $102.63 and a one year high of $165.68. The business has a 50-day simple moving average of $155.73 and a 200-day simple moving average of $138.13. 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 market cap of $110.26 billion, a PE ratio of 18.92, a P/E/G ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.30. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The business 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 company earned $1.93 EPS. The company's revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts forecast 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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