Bank of New York Mellon Corporation (NYSE:BNY - Get Free Report) VP Jose Minaya sold 3,520 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the sale, the vice president owned 180,344 shares of the company's stock, valued at approximately $29,331,148.16. The trade was a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Bank of New York Mellon Trading Down 0.5%
Shares of Bank of New York Mellon stock opened at $161.73 on Tuesday. The stock has a market cap of $109.73 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.15 and a beta of 1.06. The stock's 50 day simple moving average is $156.03 and its 200-day simple moving average is $138.38. Bank of New York Mellon Corporation has a 1-year low of $102.63 and a 1-year high of $165.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72.
Bank of New York Mellon (NYSE:BNY - Get 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 analysts' consensus estimates 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 business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the business earned $1.93 earnings per share. The business's revenue was up 13.3% compared to the same quarter last year. Analysts predict that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.
Hedge Funds Weigh In On Bank of New York Mellon
Several large investors have recently made changes to their positions in the stock. Linscomb Wealth Inc. increased its holdings in Bank of New York Mellon by 2.5% in the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank's stock valued at $376,000 after purchasing an additional 80 shares during the last quarter. Cornerstone Financial Management LLC lifted its stake in Bank of New York Mellon by 11.4% during the second quarter. Cornerstone Financial Management LLC now owns 784 shares of the bank's stock worth $113,000 after purchasing an additional 80 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Bank of New York Mellon by 3.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank's stock worth $326,000 after buying an additional 88 shares during the period. Essex Financial Services Inc. boosted its position in shares of Bank of New York Mellon by 0.5% during the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank's stock worth $2,041,000 after buying an additional 89 shares during the period. Finally, Maia Wealth LLC grew its stake in shares of Bank of New York Mellon by 3.0% in the fourth quarter. Maia Wealth LLC now owns 3,049 shares of the bank's stock valued at $350,000 after buying an additional 90 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $149.00 to $159.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. 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. Bank of America boosted their price target on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an "outperform" rating in a 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 report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $157.13.
Get Our Latest Stock Analysis on Bank of New York Mellon
About Bank of New York Mellon
(
Get 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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