Bank of New York Mellon Corporation $BNY Stock Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC lifted its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 93.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,534 shares of the bank’s stock after buying an additional 8,454 shares during the quarter. Sowell Financial Services LLC’s holdings in Bank of New York Mellon were worth $2,536,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Luken Investment Analytics LLC purchased a new position in Bank of New York Mellon in the second quarter worth $27,000. Burnham & Co LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at $29,000. EFG International AG purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $29,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $32,000. Finally, Retirement Wealth Solutions LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $35,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of NYSE BNY opened at $145.00 on Friday. Bank of New York Mellon Corporation has a 12 month low of $105.42 and a 12 month high of $165.84. The company has a 50-day simple moving average of $153.35 and a 200-day simple moving average of $147.23. The company has a market cap of $98.38 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping the consensus estimate of $2.26 by $0.11. The firm had revenue of $5.68 billion during the quarter. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, equities analysts anticipate that Bank of New York Mellon Corporation will post 9.37 earnings per share for the current year.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction on Monday, September 28th. The stock was sold at an average price of $148.79, for a total value of $523,740.80. Following the sale, the vice president owned 176,824 shares in the company, valued at $26,309,642.96. This trade represents a 1.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 38,840 shares of company stock worth $6,033,502. Corporate insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BNY. Truist Financial lowered their price target on shares of Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. Bank of America raised their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Argus boosted their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Bank of New York Mellon from $159.00 to $161.00 and gave the stock an “overweight” rating in a report on Friday, October 2nd. Finally, Erste Group Bank began coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and a consensus price target of $164.62.

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.