Commerzbank Aktiengesellschaft FI Buys Shares of 22,682 Bank of New York Mellon Corporation $BNY

Commerzbank Aktiengesellschaft FI purchased a new position in Bank of New York Mellon Corporation (NYSE:BNYFree Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 22,682 shares of the bank’s stock, valued at approximately $3,280,000.

A number of other hedge funds also recently modified their holdings of the business. Abound Financial LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at about $25,000. N.E.W. Advisory Services LLC bought a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $32,000. MCF Advisors LLC raised its holdings in Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares during the period. Heritage Wealth Advisors acquired a new stake in Bank of New York Mellon during the 4th quarter worth approximately $31,000. Finally, Wilkerson Advisory Group LLC bought a new position in Bank of New York Mellon in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of BNY opened at $164.42 on Tuesday. The stock has a market capitalization of $111.56 billion, a P/E ratio of 19.14, a P/E/G ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a twelve month low of $99.67 and a twelve month high of $165.69. The company has a 50 day moving average of $152.42 and a 200-day moving average of $135.60. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76.

Bank of New York Mellon (NYSE:BNYGet Free Report) last announced 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 business 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 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities research analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BNY. Citigroup upped their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Royal Bank Of Canada raised 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 report on Thursday, July 16th. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Finally, Truist Financial increased their target price on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Check Out Our Latest Stock Analysis on BNY

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 business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.17% of the company’s stock.

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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