Quantbot Technologies LP Invests $1.42 Million in Bank of New York Mellon Corporation $BNY

Quantbot Technologies LP purchased a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,808 shares of the bank’s stock, valued at approximately $1,418,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BNY. Abound Financial LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at $25,000. MCF Advisors LLC raised its position in shares of Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after acquiring an additional 101 shares during the last quarter. Burnham & Co LLC bought a new stake in shares of Bank of New York Mellon during the second quarter worth $29,000. Heritage Wealth Advisors acquired a new position in shares of Bank of New York Mellon during the fourth quarter valued at $31,000. Finally, Wilkerson Advisory Group LLC 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.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BNY shares. Citigroup lifted their price objective on 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. Weiss Ratings downgraded 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. Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a “buy” rating on the stock. Barclays lifted their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Finally, Bank of America boosted their price target on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

Bank of New York Mellon Trading Up 1.0%

NYSE:BNY opened at $163.76 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50-day simple moving average is $154.63 and its 200-day simple moving average is $137.32. Bank of New York Mellon Corporation has a fifty-two week low of $102.55 and a fifty-two week high of $165.68. The stock has a market capitalization of $111.11 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 EPS. Sell-side analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction on Wednesday, July 29th. The shares were 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 Securities & Exchange Commission, which is available at this link. 0.17% of the stock is owned by company insiders.

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.