Hsbc Holdings PLC Buys Shares of 1,765,095 Bank of New York Mellon Corporation $BNY

Hsbc Holdings PLC bought a new position in Bank of New York Mellon Corporation (NYSE:BNYFree Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,765,095 shares of the bank’s stock, valued at approximately $255,681,000.

Other large investors also recently made changes to their positions in the company. Abound Financial LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $25,000. MCF Advisors LLC increased its position in Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after acquiring an additional 101 shares during the period. Burnham & Co LLC bought a new stake in Bank of New York Mellon during the 2nd quarter valued at $29,000. EFG International AG bought a new stake in Bank of New York Mellon during the 2nd quarter valued at $29,000. Finally, Heritage Wealth Advisors acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at $31,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Up 1.0%

Shares of NYSE:BNY opened at $163.76 on Wednesday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $111.11 billion, a price-to-earnings ratio of 19.06, a PEG ratio of 1.15 and a beta of 1.06. Bank of New York Mellon Corporation has a 1-year low of $102.55 and a 1-year high of $165.68. The company has a 50 day moving average price of $154.63 and a 200 day moving average price of $137.32.

Bank of New York Mellon (NYSE:BNYGet Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the company earned $1.93 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. On average, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial upped their price objective on shares of 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. Citigroup boosted their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Finally, 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.13.

Read Our Latest 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.

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

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