Bank of New York Mellon Corporation $BNY Shares Newly Purchased by CenterBook Partners LP

CenterBook Partners LP acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,120 shares of the bank’s stock, valued at approximately $2,621,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Luken Investment Analytics LLC acquired a new position in Bank of New York Mellon in the 2nd quarter valued at about $27,000. Balance Wealth Partners LLC purchased a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $28,000. Burnham & Co LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $29,000. EFG International AG acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $29,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $32,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 0.3%

Shares of BNY stock opened at $147.92 on Friday. Bank of New York Mellon Corporation has a 1-year low of $105.42 and a 1-year high of $165.84. The firm has a market cap of $99.54 billion, a PE ratio of 16.34, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02. The company has a 50-day moving average of $150.26 and a two-hundred day moving average of $139.94. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.11. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The business had revenue of $5.68 billion for the quarter. Bank of New York Mellon’s revenue for the quarter was up 11.7% on a year-over-year basis. On average, analysts predict that Bank of New York Mellon Corporation will post 9.39 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Bank of New York Mellon from $161.00 to $166.50 and gave the company an “overweight” rating in a research report on Friday, October 30th. Wells Fargo & Company increased their price objective on 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. Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Bank of America lifted their target price on 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. Finally, Truist Financial decreased their price target on Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average price target of $165.04.

Insider Buying and Selling

In other Bank of New York Mellon news, CEO Robin A. Vince sold 40,620 shares of the business’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $147.81, for a total value of $6,004,042.20. Following the sale, the chief executive officer owned 585,174 shares of the company’s stock, valued at $86,494,568.94. The trade was a 6.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $147.81, for a total value of $520,291.20. Following the transaction, the vice president owned 173,304 shares in the company, valued at $25,616,064.24. This trade represents a 1.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,560 shares of company stock valued at $9,007,119 in the last ninety days. 0.17% of the stock is currently owned by corporate 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.