Syon Capital LLC Buys New Position in Bank of New York Mellon Corporation $BNY

Syon Capital LLC bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, Holdings Channel.com reports. The fund bought 13,577 shares of the bank’s stock, valued at approximately $1,963,000.

Other institutional investors also recently added to or reduced their stakes in the company. Luken Investment Analytics LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth approximately $27,000. EFG International AG acquired a new stake in shares of Bank of New York Mellon in the second quarter worth $29,000. Burnham & Co LLC bought a new position in Bank of New York Mellon during the second quarter worth $29,000. Abound Financial LLC acquired a new position in Bank of New York Mellon during the 4th quarter valued at $25,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Bank of New York Mellon in the 2nd quarter valued at $32,000. 85.31% of the stock is owned by institutional investors.

Insider Activity

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the transaction, the vice president owned 180,344 shares in the company, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $165.05 on Friday. Bank of New York Mellon Corporation has a 1-year low of $102.63 and a 1-year high of $165.84. The company has a 50 day moving average of $157.46 and a 200-day moving average of $139.49. 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 market cap of $111.99 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.24 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY) last announced its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate 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 company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. JPMorgan Chase & Co. increased their target price on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. 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. Finally, Argus upped their price target on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.13.

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.