Bank of New York Mellon (NYSE:BNY) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

Bank of New York Mellon Corporation (NYSE:BNY)’s stock price passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $150.87 and traded as high as $153.84. Bank of New York Mellon shares last traded at $152.41, with a volume of 4,629,455 shares traded.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Barclays boosted 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 report on Thursday, July 16th. New Street Research set a $182.00 price objective on Bank of New York Mellon in a research note on Friday, October 16th. Wells Fargo & Company raised their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Finally, Zacks Research downgraded Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.04.

Bank of New York Mellon Trading Up 2.1%

The firm has a market capitalization of $102.56 billion, a P/E ratio of 16.84, a price-to-earnings-growth ratio of 0.99 and a beta of 1.02. The stock has a 50-day simple moving average of $150.87 and a two-hundred day simple moving average of $139.67. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.68 billion for the quarter. The company’s revenue was up 11.7% on a year-over-year basis. On average, equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current year.

Insider Transactions at Bank of New York Mellon

In related news, CEO Robin A. Vince sold 9,380 shares of the business’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $147.82, for a total value of $1,386,551.60. Following the completion of the sale, the chief executive officer owned 575,794 shares of the company’s stock, valued at approximately $85,113,869.08. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total value of $520,291.20. Following the transaction, the vice president directly owned 173,304 shares of the company’s stock, valued at $25,616,064.24. The trade was a 1.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 60,560 shares of company stock worth $9,007,119 in the last 90 days. Company insiders own 0.17% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. 71 West Capital Partners boosted its stake in shares of Bank of New York Mellon by 1.0% during the 3rd quarter. 71 West Capital Partners now owns 6,863 shares of the bank’s stock valued at $993,000 after buying an additional 67 shares during the last quarter. Oakworth Capital Inc. raised its stake in Bank of New York Mellon by 5.3% during the third quarter. Oakworth Capital Inc. now owns 1,360 shares of the bank’s stock valued at $197,000 after buying an additional 68 shares in the last quarter. McGlone Suttner Wealth Management Inc. raised its stake in Bank of New York Mellon by 0.8% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 10,071 shares of the bank’s stock valued at $1,457,000 after buying an additional 77 shares in the last quarter. Cornerstone Financial Management LLC grew its position in shares of Bank of New York Mellon by 11.4% in the 2nd quarter. Cornerstone Financial Management LLC now owns 784 shares of the bank’s stock worth $113,000 after acquiring an additional 80 shares in the last quarter. Finally, Pinion Investment Advisors LLC increased its holdings in shares of Bank of New York Mellon by 2.3% in the 3rd quarter. Pinion Investment Advisors LLC now owns 3,667 shares of the bank’s stock valued at $530,000 after acquiring an additional 81 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Company 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.