Saudi Central Bank Purchases New Stake in Bank of New York Mellon Corporation $BNY

Saudi Central Bank purchased a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 48,083 shares of the bank’s stock, valued at approximately $6,953,000.

A number of other large investors have also added to or reduced their stakes in the company. Luken Investment Analytics LLC bought a new position in shares of Bank of New York Mellon during the second quarter valued at about $27,000. EFG International AG bought a new stake in shares of Bank of New York Mellon in the second quarter worth about $29,000. Burnham & Co LLC bought a new stake in shares of Bank of New York Mellon in the second quarter worth about $29,000. Abound Financial LLC bought a new stake in shares of Bank of New York Mellon in the fourth quarter worth about $25,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $32,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BNY opened at $165.05 on Friday. The company has a 50-day simple moving average of $157.46 and a two-hundred day simple moving average of $139.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market capitalization of $111.99 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. Bank of New York Mellon Corporation has a one year low of $102.63 and a one year high of $165.84.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping 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 in the prior year, the business earned $1.93 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on BNY. Bank of America upped their price target on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Keefe, Bruyette & Woods boosted their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Royal Bank Of Canada raised their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 16th. Finally, Citigroup lifted their price target on shares of 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 investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $157.13.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the transaction, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The SEC filing for this sale provides additional information. Insiders own 0.17% of the company’s stock.

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.