Bank of New York Mellon (NYSE:BNY) VP Jose Minaya Sells 3,520 Shares

Bank of New York Mellon Corporation (NYSE:BNY) VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the transaction, the vice president owned 180,344 shares of the company’s stock, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Bank of New York Mellon Trading Down 0.5%

BNY stock opened at $161.73 on Tuesday. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.68. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a market cap of $109.73 billion, a P/E ratio of 18.83, a PEG ratio of 1.15 and a beta of 1.06. The company’s 50-day simple moving average is $156.03 and its 200-day simple moving average is $138.38.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.30. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. As a group, equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Truist Financial boosted their price target on shares of 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. 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. Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating on the stock. Finally, Barclays lifted their target price 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. Two investment 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Hedge Funds Weigh In On Bank of New York Mellon

Hedge funds and other institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $22,603,252,000. BlackRock Inc. acquired a new stake in Bank of New York Mellon during the 2nd quarter worth $8,321,111,000. Northwestern Mutual Wealth Management Co. boosted its stake in Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after purchasing an additional 19,561,793 shares during the last quarter. Bank of America Corp DE purchased a new stake in shares of Bank of New York Mellon during the second quarter worth $2,499,438,000. Finally, Norges Bank purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth $1,398,624,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

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.