Greenleaf Trust bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 28,754 shares of the bank’s stock, valued at approximately $4,158,000.
Several other hedge funds have also modified their holdings of BNY. Focus Partners Advisor Solutions LLC acquired a new stake in Bank of New York Mellon in the second quarter worth about $1,128,000. CIBC Asset Management Inc raised its holdings in Bank of New York Mellon by 53.8% during the 4th quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock worth $21,129,000 after purchasing an additional 63,627 shares during the last quarter. Todd Asset Management LLC lifted its position in Bank of New York Mellon by 37.5% during the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after purchasing an additional 101,142 shares during the period. Prospera Financial Services Inc lifted its position in Bank of New York Mellon by 106.5% during the 4th quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock valued at $2,220,000 after purchasing an additional 9,865 shares during the period. Finally, Bellars Harris Wealth Management LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $10,324,000. 85.31% of the stock is owned by institutional investors.
Bank of New York Mellon Stock Performance
Shares of NYSE:BNY opened at $162.50 on Friday. The company has a market capitalization of $110.26 billion, a price-to-earnings ratio of 18.92, a P/E/G ratio of 1.15 and a beta of 1.06. The firm’s 50 day simple moving average is $155.73 and its 200 day simple moving average is $138.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon Corporation has a fifty-two week low of $102.63 and a fifty-two week high of $165.68.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Bank of America raised their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. lifted 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 upped their target price on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada increased their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average target price of $157.13.
Read Our Latest Stock Analysis on BNY
Insider Buying and Selling at Bank of New York Mellon
In other news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction on 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 at the SEC website. 0.17% of the stock is currently owned by corporate 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.
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