Key Points
- BNY Vice President Jose Minaya sold 3,520 shares at an average price of $148.79, generating $523,740.80. The sale reduced his direct holdings by 1.95% to 176,824 shares.
- BNY reported stronger-than-expected quarterly results, with earnings of $2.46 per share and revenue of $5.70 billion, representing 13.3% year-over-year growth.
- The stock opened at $144.79, while analysts maintained a generally positive outlook: BNY has a consensus “Moderate Buy” rating and an average price target of $156.73.
Bank of New York Mellon Corporation (NYSE:BNY - Get Free Report) VP Jose Minaya sold 3,520 shares of the business's stock in a transaction on Monday, September 28th. The stock was sold at an average price of $148.79, for a total transaction of $523,740.80. Following the sale, the vice president directly owned 176,824 shares in the company, valued at approximately $26,309,642.96. The trade was a 1.95% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Jose Minaya also recently made the following trade(s):
- On Thursday, August 27th, Jose Minaya sold 3,520 shares of Bank of New York Mellon stock. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80.
Bank of New York Mellon Stock Down 1.5%
Shares of BNY opened at $144.79 on Thursday. 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 $103.11 and a 52 week high of $165.84. The stock has a market capitalization of $98.24 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 1.11 and a beta of 1.05. The stock has a fifty day moving average of $158.20 and a 200-day moving average of $144.31.
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 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 for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the previous year, the company posted $1.93 EPS. Bank of New York Mellon's quarterly revenue was up 13.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Bank of New York Mellon
Large investors have recently modified their holdings of the company. QRG Capital Management Inc. bought a new position in Bank of New York Mellon during the second quarter worth $47,929,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Bank of New York Mellon during the 2nd quarter worth about $11,295,000. Silicon Valley Capital Partners bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $36,000. Bouchey Financial Group Ltd. acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $205,000. Finally, Sequoia Financial Advisors LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $9,181,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on BNY. Bank of America upped their price objective on 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. Zacks Research lowered shares of Bank of New York Mellon from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. Erste Group Bank started coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a "buy" rating for the company. Argus raised their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a "buy" rating in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the stock an "overweight" rating in a report on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $156.73.
View Our Latest Stock Report on BNY
Bank of New York Mellon Company Profile
(
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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