New Mexico Educational Retirement Board Purchases New Shares in Bank of New York Mellon Corporation $BNY

New Mexico Educational Retirement Board purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 34,260 shares of the bank’s stock, valued at approximately $4,954,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. purchased a new position in Bank of New York Mellon in the 2nd quarter valued at about $48,443,000. Mufg Securities Americas Inc. purchased a new stake in shares of Bank of New York Mellon during the second quarter worth about $3,282,000. Ferguson Wellman Capital Management Inc. acquired a new position in shares of Bank of New York Mellon in the second quarter worth about $3,580,000. Nissay Asset Management Corp Japan acquired a new position in shares of Bank of New York Mellon in the second quarter worth about $13,380,000. Finally, Lincoln Capital Corp purchased a new position in Bank of New York Mellon in the second quarter valued at about $295,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

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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 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 legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BNY shares. Citigroup raised their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. 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. JPMorgan Chase & Co. raised their price target on shares of 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. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Finally, Truist Financial increased their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $157.13.

View Our Latest Stock Report on BNY

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $162.50 on Friday. 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 company has a market capitalization of $110.26 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. Bank of New York Mellon Corporation has a twelve month low of $102.63 and a twelve month high of $165.68. The business has a 50 day simple moving average of $155.73 and a 200-day simple moving average of $138.06.

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 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the company posted $1.93 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. As a group, equities research analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Bank of New York Mellon Profile

(Free Report)

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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