4,821 Shares in Bank of New York Mellon Corporation $BNY Acquired by SGL Investment Advisors Inc.

SGL Investment Advisors Inc. purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, HoldingsChannel.com reports. The firm purchased 4,821 shares of the bank’s stock, valued at approximately $769,000.

Several other institutional investors also recently made changes to their positions in BNY. Abound Financial LLC acquired a new stake in shares of Bank of New York Mellon during the 4th quarter worth $25,000. MCF Advisors LLC boosted its holdings in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after acquiring an additional 101 shares during the last quarter. Heritage Wealth Advisors purchased a new stake in Bank of New York Mellon during the fourth quarter valued at about $31,000. Wilkerson Advisory Group LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $32,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BNY has been the subject of a number of research reports. Truist Financial boosted their target price on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Wells Fargo & Company boosted their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Royal Bank Of Canada upped their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Finally, Citigroup increased their price target on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Price Performance

Shares of BNY stock opened at $157.61 on Friday. 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 firm has a fifty day simple moving average of $153.55 and a 200-day simple moving average of $136.46. The company has a market capitalization of $106.94 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06. Bank of New York Mellon Corporation has a twelve month low of $100.44 and a twelve month high of $165.68.

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. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm earned $1.93 EPS. Bank of New York Mellon’s quarterly revenue was up 13.3% on a year-over-year basis. Equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon 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 filing with the SEC, which is available at this link. 0.17% of the stock is owned by insiders.

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.