Bank of New York Mellon (NYSE:BNY) VP Sells 3,520 Shares of Company Stock

Key Points

• BNY VP Jose Minaya sold 3,520 shares at an average price of $148.79, generating $523,740.80 and reducing his ownership by 1.95% to 176,824 shares.
• BNY shares recently traded at $144.79, below their 50-day average of $158.51 but near the 200-day average of $144.12. The stock has a 52-week range of $103.11 to $165.84.
• The bank exceeded quarterly earnings and revenue expectations, reporting $2.46 EPS and $5.70 billion in revenue, while analysts maintain a Moderate Buy consensus with an average price target of $156.73.

Bank of New York Mellon Corporation (NYSE:BNY - Get Free Report) VP Jose Minaya sold 3,520 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $148.79, for a total value of $523,740.80. Following the sale, the vice president directly owned 176,824 shares in the company, valued at approximately $26,309,642.96. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Jose Minaya also recently made the following trade(s):

• On Thursday, August 27th, Jose Minaya sold 3,520 shares of Bank of New York Mellon stock. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80.

Bank of New York Mellon Price Performance

BNY stock traded down $2.19 during mid-day trading on Wednesday, hitting $144.79. The stock had a trading volume of 4,263,719 shares, compared to its average volume of 3,691,433. The firm has a fifty day simple moving average of $158.51 and a 200 day simple moving average of $144.12. The firm has a market capitalization of $98.24 billion, a P/E ratio of 16.86, a P/E/G ratio of 1.12 and a beta of 1.05. The company has a current ratio of 0.72, a quick 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 $103.11 and a 52 week high of $165.84.

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 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 for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the business posted $1.93 EPS. The firm's revenue for the quarter was up 13.3% on a year-over-year basis. As a group, research analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Wall Street Analysts Forecast Growth

BNY has been the subject of a number of research analyst reports. 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 report on Tuesday, August 4th. Royal Bank Of Canada increased their target price on shares of 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. Citigroup lifted their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Truist Financial lowered their price objective on shares of Bank of New York Mellon from $178.00 to $172.00 and set a "buy" rating for the company in a research report on Friday, September 25th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an "outperform" rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $156.73.

Institutional Trading of Bank of New York Mellon

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $8,321,111,000. Bank of America Corp DE acquired a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bank of New York Mellon during the second quarter valued at $1,214,193,000. Wellington Management Group LLP bought a new position in shares of Bank of New York Mellon during the second quarter valued at $1,175,576,000. Finally, Amundi acquired a new position in shares of Bank of New York Mellon during the second quarter worth $985,533,000. 85.31% of the stock is owned by institutional investors and hedge funds.

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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