Tocqueville Asset Management L.P. purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) in the second quarter, Holdings Channel reports. The fund purchased 16,268 shares of the bank’s stock, valued at approximately $2,353,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of BNY. Revolve Wealth Partners LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $220,000. Sivia Capital Partners LLC boosted its holdings in shares of Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after buying an additional 909 shares during the period. Jump Financial LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $2,482,000. Treasurer of the State of North Carolina grew its position in shares of Bank of New York Mellon by 1.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after buying an additional 5,445 shares during the last quarter. Finally, Osterweis Capital Management Inc. grew its position in shares of Bank of New York Mellon by 11,890.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after buying an additional 1,189 shares during the last quarter. 85.31% of the stock is owned by institutional investors.
Insider Activity 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 that occurred 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 SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Analysis on BNY
Bank of New York Mellon Stock Down 1.3%
BNY stock opened at $157.61 on Friday. 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 Corporation has a fifty-two week low of $100.44 and a fifty-two week high of $165.68. The firm’s 50-day simple moving average is $153.55 and its 200 day simple moving average is $136.46. The stock has a market cap of $106.94 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.30. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $1.93 EPS. As a group, sell-side analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.
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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