Optimize Financial Inc. acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 4,120 shares of the bank’s stock, valued at approximately $596,000.
Several other large investors have also bought and sold shares of BNY. Revolve Wealth Partners LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $220,000. Sivia Capital Partners LLC lifted its stake in 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 purchasing an additional 909 shares during the last quarter. Jump Financial LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $2,482,000. Treasurer of the State of North Carolina boosted its position in Bank of New York Mellon by 1.7% in the second 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 in the last quarter. Finally, Osterweis Capital Management Inc. grew its stake in shares of Bank of New York Mellon by 11,890.0% during the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock worth $109,000 after buying an additional 1,189 shares during the last quarter. 85.31% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
BNY has been the subject of several research analyst reports. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Keefe, Bruyette & Woods boosted their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Bank of America upped their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Wells Fargo & Company increased their target price 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. Two 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 stock. According to data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $157.13.
Bank of New York Mellon Price Performance
Shares of NYSE:BNY opened at $165.05 on Monday. The firm has a market cap of $111.99 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. The firm’s fifty day moving average is $157.46 and its 200-day moving average is $139.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. Bank of New York Mellon Corporation has a 52 week low of $102.63 and a 52 week high of $165.84.
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, topping the consensus estimate of $2.16 by $0.30. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 earnings per share. Sell-side analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.
Insider Activity
In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the sale, the vice president owned 180,344 shares in the company, valued at $29,331,148.16. This trade represents a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by insiders.
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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