729,818 Shares in Bank of New York Mellon Corporation $BNY Bought by Danske Bank A S

Danske Bank A S bought a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 729,818 shares of the bank’s stock, valued at approximately $105,539,000.

A number of other institutional investors have also recently modified their holdings of BNY. Diversify Advisory Services LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $2,663,000. Gables Capital Management Inc. purchased a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $159,000. Wealthfront Advisers LLC acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $14,559,000. Foster & Motley Inc. acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth approximately $339,000. Finally, American Financial & Tax Strategies Inc. purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $234,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $163.80 on Wednesday. The company has a fifty day simple moving average of $152.84 and a 200-day simple moving average of $135.92. The firm has a market capitalization of $111.14 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.16 and a beta of 1.06. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a 52-week low of $99.67 and a 52-week high of $165.68.

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, topping the consensus estimate of $2.16 by $0.30. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period last year, the firm posted $1.93 earnings per share. On average, equities analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on BNY shares. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Citigroup upped their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. raised their price target on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods lifted their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus 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 stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

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.