Callan Family Office LLC Makes New Investment in Bank of New York Mellon Corporation $BNY

Callan Family Office LLC acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 112,282 shares of the bank’s stock, valued at approximately $16,237,000.

Other institutional investors have also recently made changes to their positions in the company. Linscomb Wealth Inc. grew its position in Bank of New York Mellon by 2.5% during the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock valued at $376,000 after buying an additional 80 shares during the period. Parkside Financial Bank & Trust increased its holdings in Bank of New York Mellon by 3.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock valued at $326,000 after buying an additional 88 shares in the last quarter. Essex Financial Services Inc. raised its position in shares of Bank of New York Mellon by 0.5% in the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after acquiring an additional 89 shares during the period. Maia Wealth LLC raised its position in shares of Bank of New York Mellon by 3.0% in the fourth quarter. Maia Wealth LLC now owns 3,049 shares of the bank’s stock worth $350,000 after acquiring an additional 90 shares during the period. Finally, Nemes Rush Group LLC boosted its stake in shares of Bank of New York Mellon by 12.8% during the 4th quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock worth $94,000 after acquiring an additional 92 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Trading Up 0.9%

BNY opened at $158.72 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The company’s 50 day simple moving average is $153.85 and its two-hundred day simple moving average is $136.61. Bank of New York Mellon Corporation has a 1-year low of $101.71 and a 1-year high of $165.68. The firm has a market capitalization of $107.69 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The business’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.93 earnings per share. Analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BNY shares. Wells Fargo & Company raised their target price 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. Erste Group Bank assumed coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating on the stock. Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Truist Financial boosted their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Finally, Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently 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 transaction of $4,937,268.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

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.