BTG Pactual Asset Management US LLC Takes Position in Bank of New York Mellon Corporation $BNY

BTG Pactual Asset Management US LLC bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 14,129 shares of the bank’s stock, valued at approximately $2,043,000.

Other institutional investors have also bought and sold shares of the company. Abound Financial LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at $25,000. MCF Advisors LLC grew its holdings in shares of Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the last quarter. Burnham & Co LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $29,000. EFG International AG acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $29,000. Finally, Heritage Wealth Advisors bought a new position in Bank of New York Mellon during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

BNY opened at $162.50 on Monday. Bank of New York Mellon Corporation has a 1-year low of $102.63 and a 1-year high of $165.68. The stock has a market capitalization of $110.26 billion, a PE ratio of 18.92, a PEG ratio of 1.15 and a beta of 1.06. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average price of $155.73 and a two-hundred day moving average price of $138.13.

Bank of New York Mellon (NYSE:BNY) last announced its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the business earned $1.93 earnings per share. Bank of New York Mellon’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the company’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 filing with the SEC, which is available at this link. 0.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a “buy” rating for the company. Barclays boosted their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, Argus raised their price target on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Two 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

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.