Laidlaw Wealth Management LLC Makes New $562,000 Investment in Bank of New York Mellon Corporation $BNY

Laidlaw Wealth Management LLC bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,885 shares of the bank’s stock, valued at approximately $562,000. Bank of New York Mellon accounts for about 1.6% of Laidlaw Wealth Management LLC’s investment portfolio, making the stock its 19th biggest position.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. C M Bidwell & Associates Ltd. bought a new stake in shares of Bank of New York Mellon in the second quarter valued at approximately $654,000. Keebeck Wealth Management bought a new position in Bank of New York Mellon during the 2nd quarter worth $333,000. Keating Financial Advisory Services Inc. bought a new position in Bank of New York Mellon during the 2nd quarter worth $134,000. Allworth Financial LP acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $4,709,000. Finally, Greenspring Advisors LLC acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $282,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Up 0.9%

NYSE BNY opened at $158.72 on Friday. The business has a fifty day moving average price of $153.85 and a two-hundred day moving average price of $136.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon Corporation has a fifty-two week low of $101.71 and a fifty-two week high of $165.68. The stock has a market capitalization of $107.69 billion, a PE ratio of 18.48, a PEG ratio of 1.12 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter last year, the business posted $1.93 EPS. The company’s revenue was up 13.3% compared to the same quarter last year. Equities analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BNY has been the subject of a number of recent analyst reports. Truist Financial upped their target price on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Citigroup boosted their price target on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Royal Bank Of Canada upped their price objective 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, JPMorgan Chase & Co. increased their price objective on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.