Bank of New York Mellon Corporation $BNY Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC lessened its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 3.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 132,149 shares of the bank’s stock after selling 4,187 shares during the quarter. Bank of New York Mellon accounts for approximately 1.7% of Isthmus Partners LLC’s portfolio, making the stock its 11th biggest position. Isthmus Partners LLC’s holdings in Bank of New York Mellon were worth $19,113,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Luken Investment Analytics LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth about $27,000. Burnham & Co LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $29,000. EFG International AG acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $29,000. N.E.W. Advisory Services LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $32,000. Finally, Retirement Wealth Solutions LLC purchased a new position in Bank of New York Mellon in the second quarter worth approximately $35,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

BNY has been the subject of several analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Bank of New York Mellon in a report on Friday, October 16th. TD Cowen started coverage on shares of Bank of New York Mellon in a report on Thursday, October 8th. They issued a “hold” rating and a $160.00 price objective on the stock. Citigroup decreased their price objective on shares of Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating for the company in a research report on Monday. Zacks Research cut shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. Finally, Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.62.

Insider Activity at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the stock in a transaction on Monday, September 28th. The shares were sold at an average price of $148.79, for a total transaction of $523,740.80. Following the completion of the transaction, the vice president directly owned 176,824 shares in the company, valued at $26,309,642.96. This trade represents a 1.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 38,840 shares of company stock valued at $6,033,502 in the last 90 days. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $145.00 on Friday. The stock’s 50-day simple moving average is $153.35 and its 200-day simple moving average is $147.23. The firm has a market capitalization of $98.38 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.06. Bank of New York Mellon Corporation has a fifty-two week low of $105.42 and a fifty-two week high of $165.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.11. The firm had revenue of $5.68 billion during the quarter. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, equities research analysts forecast that Bank of New York Mellon Corporation will post 9.37 EPS for the current fiscal year.

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.