Round Rock Advisors LLC Invests $1.22 Million in Bank of New York Mellon Corporation $BNY

Key Points

• Round Rock Advisors acquired 8,442 shares of Bank of New York Mellon worth approximately $1.22 million during the second quarter. Institutional investors and hedge funds collectively own 85.31% of the company.
• Analysts maintain a generally positive outlook, with BNY receiving a consensus “Moderate Buy” rating and an average price target of $157.13; targets range as high as $180.
• BNY reported a quarterly earnings beat, posting $2.46 in EPS versus the $2.16 consensus estimate and $5.70 billion in revenue, up 13.3% year over year. Shares opened at $162.09, near their 52-week high of $165.68.

Round Rock Advisors LLC acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 8,442 shares of the bank's stock, valued at approximately $1,221,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nykredit A S bought a new position in Bank of New York Mellon during the 2nd quarter worth about $32,959,000. Thrive Wealth Management LLC acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at approximately $318,000. Hudson Portfolio Management LLC acquired a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $3,139,000. Tranquilli Financial Advisor LLC acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at $1,010,000. Finally, B. Metzler seel. Sohn & Co. AG acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $22,882,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BNY has been the subject of several analyst reports. Weiss Ratings cut shares of Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday, August 13th. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. Royal Bank Of Canada lifted their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a "sector perform" rating in a report on Thursday, July 16th. JPMorgan Chase & Co. boosted their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Finally, Argus upped their price objective on Bank of New York Mellon from $153.00 to $180.00 and gave the company a "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 issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of "Moderate Buy" and an average price target of $157.13.

Insider Transactions at Bank of New York Mellon

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 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 Securities & Exchange Commission, which is available at this link. Also, VP Jose Minaya sold 3,520 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the transaction, 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. Insiders own 0.17% of the company's stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BNY opened at $162.09 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 fifty day moving average price is $156.65 and its two-hundred day moving average price is $138.99. Bank of New York Mellon Corporation has a one year low of $102.63 and a one year high of $165.68. The firm has a market cap of $109.98 billion, a price-to-earnings ratio of 18.87, a P/E/G ratio of 1.21 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last announced its earnings results 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. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company had revenue of $5.70 billion during the quarter, compared to analysts' expectations of $5.35 billion. During the same quarter in the previous year, the business posted $1.93 earnings per share. Bank of New York Mellon's quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

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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