Great Lakes Advisors LLC purchased a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 33,034 shares of the bank’s stock, valued at approximately $4,777,000.
Several other institutional investors have also bought and sold shares of BNY. Abound Financial LLC bought a new stake in Bank of New York Mellon during the fourth quarter worth approximately $25,000. MCF Advisors LLC lifted its stake in shares of Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after purchasing an additional 101 shares during the last quarter. Heritage Wealth Advisors purchased a new position in shares of Bank of New York Mellon in the 4th quarter worth approximately $31,000. Wilkerson Advisory Group LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $32,000. Institutional investors own 85.31% of the company’s stock.
Bank of New York Mellon Trading Down 2.5%
NYSE BNY opened at $159.88 on Thursday. The company’s 50-day moving average price is $153.24 and its 200-day moving average price is $136.19. 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 stock has a market cap of $108.48 billion, a PE ratio of 18.61, a PEG ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 12 month low of $99.67 and a 12 month high of $165.68.
Analyst Ratings Changes
Several research analysts have commented on the stock. Citigroup lifted their price objective on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. raised their target price on shares of 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. Barclays lifted their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Finally, Royal Bank Of Canada increased their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $157.13.
Get Our Latest Stock Analysis on BNY
Insiders Place Their Bets
In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.17% of the stock is currently owned by company insiders.
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.
Featured Articles
- Five stocks we like better than Bank of New York Mellon
- Bloom Energy’s AI Surge Meets a Valuation Reality Check
- Target Is Winning Shoppers Back—Can the Rally Reach $180?
- IonQ’s Space Contract Points to a New Frontier for Quantum Investors
- Is Apple’s AI Strategy Smarter Than Skeptics Think?
Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.
