Bank of New York Mellon Corporation $BNY Stock Holdings Lowered by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC lessened its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 6.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,686 shares of the bank’s stock after selling 5,329 shares during the period. Teamwork Financial Advisors LLC’s holdings in Bank of New York Mellon were worth $11,380,000 as of its most recent SEC filing.

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

Bank of New York Mellon Stock Down 0.7%

Bank of New York Mellon stock traded down $1.05 during mid-day trading on Monday, reaching $142.25. The stock had a trading volume of 4,024,929 shares, compared to its average volume of 3,726,936. The company has a market capitalization of $96.52 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.11 and a beta of 1.06. The company has a 50-day moving average price of $154.36 and a two-hundred day moving average price of $146.74. Bank of New York Mellon Corporation has a one year low of $105.36 and a one year high of $165.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BNY – Get Free Report) last announced its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, beating the consensus estimate of $2.26 by $0.11. The company had revenue of $5.68 billion for the quarter. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. Bank of New York Mellon’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts expect that Bank of New York Mellon Corporation will post 9.30 EPS for the current fiscal year.

Insider Activity

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $148.79, for a total transaction of $523,740.80. Following the sale, the vice president directly owned 176,824 shares of the company’s stock, valued at $26,309,642.96. This trade represents a 1.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,840 shares of company stock valued at $6,033,502 over the last ninety days. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BNY shares. Zacks Research lowered shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Citigroup dropped their price target on Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating on the stock in a research report on Monday. Argus upped their price target on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company raised their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Bank of New York Mellon in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.62.

Check Out Our Latest Stock Analysis on Bank of New York Mellon

About Bank of New York Mellon

(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.

See Also

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Institutional Ownership by Quarter for Bank of New York Mellon (NYSE:BNY)

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