14,016 Shares in Bank of New York Mellon Corporation $BNY Purchased by SVB Wealth LLC

SVB Wealth LLC acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,016 shares of the bank’s stock, valued at approximately $2,027,000.

Several other hedge funds have also recently bought and sold shares of BNY. California State Teachers Retirement System acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $22,603,252,000. BlackRock Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $8,321,111,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 acquiring an additional 19,561,793 shares in the last quarter. Bank of America Corp DE bought a new position in Bank of New York Mellon in the second quarter valued at approximately $2,499,438,000. Finally, Norges Bank bought a new position in Bank of New York Mellon in the fourth quarter valued at approximately $1,398,624,000. 85.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BNY has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upped 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 note on Thursday, July 16th. Argus raised their target price 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. Citigroup lifted 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. Truist Financial boosted their price target on 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. Finally, Barclays upped their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Price Performance

Shares of NYSE:BNY opened at $163.08 on Thursday. Bank of New York Mellon Corporation has a one year low of $102.63 and a one year high of $165.84. 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 company has a market cap of $110.65 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 1.22 and a beta of 1.05. The firm has a 50 day simple moving average of $158.60 and a 200 day simple moving average of $140.59.

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. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.93 earnings per share. Research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, 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 value of $572,492.80. Following the completion of the transaction, the vice president owned 180,344 shares of the company’s stock, valued at $29,331,148.16. This represents a 1.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Company 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.