Texas Capital Bank Wealth Management Services Inc purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,751 shares of the bank’s stock, valued at approximately $542,000.
A number of other large investors have also bought and sold shares of the stock. Grandfield & Dodd LLC purchased a new position in shares of Bank of New York Mellon in the second quarter worth $259,000. Focused Alpha LLC purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at $769,000. MidFirst Bank purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at $38,000. BlackRock Inc. bought a new stake in Bank of New York Mellon in the 2nd quarter worth $8,321,111,000. Finally, Occidental Asset Management LLC bought a new stake in Bank of New York Mellon in the 2nd quarter worth $264,000. 85.31% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
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Bank of New York Mellon Stock Up 0.7%
Shares of NYSE BNY opened at $164.42 on Tuesday. The firm has a fifty day simple moving average of $152.42 and a two-hundred day simple moving average of $135.60. Bank of New York Mellon Corporation has a 12 month low of $99.67 and a 12 month high of $165.69. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $111.56 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06.
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 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 firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the firm posted $1.93 EPS. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.
About Bank of New York Mellon
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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