10,402 Shares in Bank of New York Mellon Corporation $BNY Bought by NBT Bank N.A.

NBT Bank N.A. purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,402 shares of the bank’s stock, valued at approximately $1,504,000.

Several other institutional investors also recently made changes to their positions in BNY. Luken Investment Analytics LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth $27,000. EFG International AG acquired a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $29,000. Burnham & Co LLC acquired a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new position 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 valued at approximately $35,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of BNY stock opened at $145.26 on Friday. The firm has a fifty day simple moving average of $152.99 and a 200-day simple moving average of $147.22. The company has a market capitalization of $98.56 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 0.97 and a beta of 1.06. Bank of New York Mellon Corporation has a twelve month low of $105.42 and a twelve month high of $165.84. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.86.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping the consensus estimate of $2.26 by $0.11. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The business had revenue of $5.68 billion during the quarter. The firm’s revenue was up 11.7% compared to the same quarter last year. Equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BNY. Wells Fargo & Company increased their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Bank of America lifted their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 20th. Royal Bank Of Canada upped their price target 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. JPMorgan Chase & Co. increased their price target on Bank of New York Mellon from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, October 2nd. Finally, Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.62.

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $148.79, for a total value of $523,740.80. Following the sale, the vice president owned 176,824 shares of the company’s stock, valued at $26,309,642.96. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 38,840 shares of company stock valued at $6,033,502. Company 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.