Stableford Capital II LLC Invests $1.54 Million in Bank of New York Mellon Corporation $BNY

Stableford Capital II LLC acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 10,658 shares of the bank’s stock, valued at approximately $1,541,000.

A number of other large investors also recently added to or reduced their stakes in the business. Abound Financial LLC bought a new stake in Bank of New York Mellon in the fourth quarter worth $25,000. MCF Advisors LLC grew its holdings in shares of Bank of New York Mellon by 74.8% in the fourth 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. Luken Investment Analytics LLC purchased a new position in shares of Bank of New York Mellon in the second quarter valued at about $27,000. Burnham & Co LLC purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $29,000. Finally, EFG International AG bought a new position in shares of Bank of New York Mellon during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 1.2%

Shares of BNY stock opened at $162.91 on Wednesday. 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 stock has a market cap of $110.53 billion, a P/E ratio of 18.97, a P/E/G ratio of 1.24 and a beta of 1.05. Bank of New York Mellon Corporation has a 12 month low of $102.63 and a 12 month high of $165.84. The company has a 50 day simple moving average of $158.26 and a two-hundred day simple moving average of $140.28.

Bank of New York Mellon (NYSE:BNY) last announced its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the firm earned $1.93 EPS. Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, July 29th. The shares were 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 SEC, which is accessible through this link. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the transaction, the vice president owned 180,344 shares of the company’s stock, valued at approximately $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BNY shares. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Bank of America boosted their price target on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Truist Financial upped their price target on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a research note 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 for the company. Finally, JPMorgan Chase & Co. lifted their price objective on 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. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.