Citizens Financial Group Inc. RI acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 180,621 shares of the bank’s stock, valued at approximately $26,120,000.
Other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Bank of New York Mellon during the second quarter worth $8,321,111,000. Northwestern Mutual Wealth Management Co. raised its stake in Bank of New York Mellon by 18,044.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock valued at $2,283,514,000 after buying an additional 19,561,793 shares in the last quarter. Norges Bank acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $1,398,624,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Bank of New York Mellon by 639.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 7,076,729 shares of the bank’s stock worth $771,080,000 after buying an additional 6,119,749 shares during the last quarter. Finally, Deutsche Bank AG purchased a new stake in Bank of New York Mellon during the 2nd quarter worth about $576,055,000. 85.31% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have recently commented on BNY shares. Wells Fargo & Company increased their price objective 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. Bank of America raised their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Citigroup upped their price target on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Finally, Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday. Two investment 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.13.
Insider Transactions at Bank of New York Mellon
In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.
Bank of New York Mellon Stock Performance
NYSE BNY opened at $164.42 on Tuesday. The company has a fifty day moving average of $152.42 and a two-hundred day moving average of $135.60. The company has a market capitalization of $111.56 billion, a PE ratio of 19.14, a P/E/G ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 1 year low of $99.67 and a 1 year high of $165.69. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last posted its 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 business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the previous year, the firm earned $1.93 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. As a group, analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.
About Bank of New York Mellon
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.
Further Reading
- Five stocks we like better than Bank of New York Mellon
- Commodities Are Booming, But These 3 ETFs Tell Different Stories
- 3 Active ETFs Making Big Moves in August
- This ETF Is Outperforming by Avoiding the S&P 500’s Biggest Problem
- Birkenstock Beats the Skeptics—But Not on EPS
Want to see what other hedge funds are holding BNY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bank of New York Mellon Corporation (NYSE:BNY – Free Report).
Receive News & Ratings for Bank of New York Mellon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bank of New York Mellon and related companies with MarketBeat.com's FREE daily email newsletter.
