Greenleaf Trust Acquires New Holdings in Bank of New York Mellon Corporation $BNY

Greenleaf Trust bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 28,754 shares of the bank’s stock, valued at approximately $4,158,000.

Several other hedge funds have also recently bought and sold shares of the stock. Revolve Wealth Partners LLC acquired a new position in Bank of New York Mellon in the 4th quarter worth $220,000. Sivia Capital Partners LLC raised its stake in shares of 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 period. Jump Financial LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $2,482,000. Treasurer of the State of North Carolina lifted its holdings in shares of 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 purchasing an additional 5,445 shares in the last quarter. Finally, Osterweis Capital Management Inc. lifted its holdings in shares of Bank of New York Mellon by 11,890.0% in the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,189 shares in the last quarter. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BNY. Citigroup lifted their target price on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating for the company. Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Finally, Bank of America increased their target price on shares of 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. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Stock Performance

BNY opened at $162.50 on Friday. The business’s 50-day simple moving average is $155.73 and its 200 day simple moving average is $138.06. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market capitalization of $110.26 billion, a PE ratio of 18.92, a PEG ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results 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 firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The business’s revenue was up 13.3% compared to the same quarter last year. During the same period last year, the company earned $1.93 earnings per share. As a group, sell-side analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insider Activity at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Company 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.