NBT Bank N.A. Makes New Investment in Bank of New York Mellon Corporation $BNY

NBT Bank N.A. acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,402 shares of the bank’s stock, valued at approximately $1,504,000.

A number of other institutional investors have also recently bought and sold shares of BNY. FARMERS & MERCHANTS TRUST Co OF LONG BEACH lifted its holdings in shares of Bank of New York Mellon by 0.6% during the 3rd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 26,899 shares of the bank’s stock valued at $3,890,000 after buying an additional 158 shares during the last quarter. SBI Securities Co. Ltd. grew its stake in shares of Bank of New York Mellon by 5.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 2,790 shares of the bank’s stock valued at $404,000 after buying an additional 133 shares in the last quarter. Obermeyer Wealth Partners bought a new stake in shares of Bank of New York Mellon in the 3rd quarter valued at approximately $226,000. Vest Financial LLC increased its holdings in Bank of New York Mellon by 3.9% in the third quarter. Vest Financial LLC now owns 549,065 shares of the bank’s stock worth $79,411,000 after buying an additional 20,833 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. raised its position in Bank of New York Mellon by 37.3% during the third quarter. Cantor Fitzgerald Investment Advisors L.P. now owns 34,280 shares of the bank’s stock valued at $4,958,000 after acquiring an additional 9,320 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. New Street Research set a $182.00 price target on shares of Bank of New York Mellon in a research note on Friday, October 16th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Barclays lifted their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, TD Cowen started coverage on shares of Bank of New York Mellon in a research note on Thursday, October 8th. They issued a “hold” rating and a $160.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.62.

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $148.79, for a total transaction of $523,740.80. Following the completion of the transaction, the vice president owned 176,824 shares of the company’s stock, valued at $26,309,642.96. This trade represents a 1.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 38,840 shares of company stock worth $6,033,502 in the last quarter. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Performance

BNY opened at $145.26 on Friday. The stock has a 50-day moving average of $152.99 and a 200-day moving average of $147.22. Bank of New York Mellon Corporation has a 52-week low of $105.42 and a 52-week high of $165.84. The company has a market cap of $98.56 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.11. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The firm had revenue of $5.68 billion for the quarter. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that Bank of New York Mellon Corporation will post 9.38 earnings per share for the current fiscal 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.