MASTERINVEST Kapitalanlage GmbH purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) during the second quarter, HoldingsChannel reports. The fund purchased 8,694 shares of the bank’s stock, valued at approximately $1,257,000.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in Bank of New York Mellon during the second quarter worth $8,321,111,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after buying an additional 19,561,793 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $2,499,438,000. Norges Bank acquired a new position in shares of Bank of New York Mellon during the 4th quarter worth $1,398,624,000. Finally, Invesco Ltd. raised its stake in shares of Bank of New York Mellon by 8.2% during the 4th quarter. Invesco Ltd. now owns 7,680,429 shares of the bank’s stock worth $891,621,000 after buying an additional 578,999 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.17% of the company’s stock.
Bank of New York Mellon Price Performance
Bank of New York Mellon (NYSE:BNY – Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 earnings per share. Equities analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on BNY shares. Royal Bank Of Canada increased their price objective on shares of 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. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Barclays upped their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods increased their price target on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Two investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.13.
View Our Latest Stock Analysis on BNY
Bank of New York Mellon Profile
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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