Strategic Advisors LLC Purchases New Shares in Bank of New York Mellon Corporation $BNY

Strategic Advisors LLC acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 4,329 shares of the bank’s stock, valued at approximately $626,000.

Other institutional investors have also added to or reduced their stakes in the company. Abound Financial LLC purchased a new stake in shares of Bank of New York Mellon in the 4th quarter worth about $25,000. MCF Advisors LLC increased 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 valued at $27,000 after buying an additional 101 shares during the period. Burnham & Co LLC bought a new position in Bank of New York Mellon in the second quarter worth about $29,000. EFG International AG bought a new position in Bank of New York Mellon in the second quarter worth about $29,000. Finally, Heritage Wealth Advisors purchased a new stake in Bank of New York Mellon in the fourth quarter worth about $31,000. 85.31% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in 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 stock an “overweight” rating in a report on Tuesday, August 4th. Citigroup raised 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 note on Monday, July 20th. Wells Fargo & Company lifted their price target on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Truist Financial increased their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $157.13.

Insider Buying and Selling

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

BNY stock opened at $162.50 on Monday. The firm has a 50 day moving average price of $155.73 and a 200-day moving average price of $138.13. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.68. The firm has a market capitalization of $110.26 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.15 and a beta of 1.06. 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 (NYSE:BNY) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS 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 firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the previous year, the firm posted $1.93 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities research analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

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.