Equitable Holdings Inc. Buys Shares of 26,432 Bank of New York Mellon Corporation $BNY

Equitable Holdings Inc. purchased a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, Holdings Channel reports. The fund purchased 26,432 shares of the bank’s stock, valued at approximately $3,822,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at approximately $220,000. Sivia Capital Partners LLC grew its holdings in Bank of New York Mellon by 36.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after acquiring an additional 909 shares during the last quarter. Jump Financial LLC bought a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $2,482,000. Treasurer of the State of North Carolina increased its position in Bank of New York Mellon by 1.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after acquiring an additional 5,445 shares during the period. Finally, Osterweis Capital Management Inc. increased its position in Bank of New York Mellon by 11,890.0% in the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after acquiring an additional 1,189 shares during the period. 85.31% of the stock is currently owned by institutional investors.

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 stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Down 0.5%

NYSE:BNY opened at $162.28 on Friday. The firm’s fifty day moving average is $155.35 and its 200-day moving average is $137.89. 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 Corporation has a 52 week low of $102.63 and a 52 week high of $165.68. The firm has a market cap of $110.11 billion, a P/E ratio of 18.89, a P/E/G ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data 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. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the company posted $1.93 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on BNY. Bank of America lifted their price target on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Wells Fargo & Company raised their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Erste Group Bank started coverage on Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating on the stock. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Finally, Truist Financial increased their price target on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

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.