Endeavor Private Wealth Inc. Makes New $2.37 Million Investment in Bank of New York Mellon Corporation $BNY

Endeavor Private Wealth Inc. acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, Holdings Channel.com reports. The firm acquired 16,370 shares of the bank’s stock, valued at approximately $2,367,000.

Several other institutional investors have also modified their holdings of the company. Linscomb Wealth Inc. increased its holdings in Bank of New York Mellon by 2.5% in 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 last quarter. Parkside Financial Bank & Trust lifted its holdings in Bank of New York Mellon by 3.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock worth $326,000 after buying an additional 88 shares during the last quarter. Essex Financial Services Inc. boosted its position in shares of Bank of New York Mellon by 0.5% during the 4th 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 in the last quarter. Maia Wealth LLC boosted its position in shares of Bank of New York Mellon by 3.0% during the 4th quarter. Maia Wealth LLC now owns 3,049 shares of the bank’s stock worth $350,000 after acquiring an additional 90 shares in the last quarter. Finally, Nemes Rush Group LLC increased its holdings in shares of Bank of New York Mellon by 12.8% in the 4th quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock valued at $94,000 after acquiring an additional 92 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BNY. JPMorgan Chase & Co. raised their target price on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Argus increased their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Truist Financial boosted their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Insiders Place Their Bets

In other news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the sale, the vice president owned 180,344 shares of the company’s stock, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Up 0.4%

NYSE:BNY opened at $165.05 on Friday. The stock’s 50 day moving average price is $157.46 and its 200 day moving average price is $139.49. The company has a market capitalization of $111.99 billion, a PE ratio of 19.21, a P/E/G ratio of 1.24 and a beta of 1.05. 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 $102.63 and a 52-week high of $165.84.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 earnings per share. On average, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS 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.