Bank of New York Mellon Corporation $BNY Shares Sold by Teamwork Financial Advisors LLC

Teamwork Financial Advisors LLC decreased its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 78,686 shares of the bank’s stock after selling 5,329 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Bank of New York Mellon were worth $11,380,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Luken Investment Analytics LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at about $27,000. EFG International AG purchased a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $29,000. Burnham & Co LLC bought a new position in Bank of New York Mellon during the second quarter valued at approximately $29,000. N.E.W. Advisory Services LLC bought a new position in Bank of New York Mellon during the second quarter valued at approximately $32,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in Bank of New York Mellon in the second quarter worth approximately $35,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Bank of New York Mellon from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, October 2nd. Wells Fargo & Company increased 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 report on Thursday, July 16th. Truist Financial dropped 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Bank of New York Mellon in a report on Friday. Finally, Barclays upped their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 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 company. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $164.62.

Bank of New York Mellon Stock Performance

Shares of NYSE:BNY traded down $1.05 during trading on Monday, hitting $142.25. The company’s stock had a trading volume of 4,024,929 shares, compared to its average volume of 3,726,936. The company has a 50-day moving average of $154.36 and a 200-day moving average of $146.74. Bank of New York Mellon Corporation has a 12 month low of $105.36 and a 12 month high of $165.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market cap of $96.52 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 1.11 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.68 billion for the quarter. Bank of New York Mellon’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Bank of New York Mellon Corporation will post 9.30 earnings per share for the current year.

Insider Activity

In related news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,840 shares of company stock valued at $6,033,502 in the last three months. 0.17% of the stock is currently owned by corporate insiders.

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.