90,673 Shares in Bank of New York Mellon Corporation $BNY Acquired by Visionary Wealth Advisors

Visionary Wealth Advisors acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 90,673 shares of the bank’s stock, valued at approximately $13,112,000.

Several other institutional investors have also added to or reduced their stakes in BNY. Focus Partners Advisor Solutions LLC bought a new position in shares of Bank of New York Mellon during the second quarter valued at $1,128,000. CIBC Asset Management Inc increased its holdings in Bank of New York Mellon by 53.8% in the 4th quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock worth $21,129,000 after buying an additional 63,627 shares in the last quarter. Todd Asset Management LLC raised its position in Bank of New York Mellon by 37.5% in the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock worth $43,069,000 after buying an additional 101,142 shares during the last quarter. Prospera Financial Services Inc raised its position in Bank of New York Mellon by 106.5% in the 4th quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock worth $2,220,000 after buying an additional 9,865 shares during the last quarter. Finally, Bellars Harris Wealth Management LLC bought a new position in Bank of New York Mellon during the 2nd quarter valued at about $10,324,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BNY shares. Erste Group Bank began coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating on the stock. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Bank of America increased their price objective on shares of 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. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Finally, Argus lifted their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

Insider Transactions at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Up 2.3%

Shares of NYSE:BNY opened at $162.14 on Tuesday. The stock’s 50-day simple moving average is $154.24 and its two-hundred day simple moving average is $137.02. The stock has a market capitalization of $110.01 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 1.12 and a beta of 1.06. Bank of New York Mellon Corporation has a 52-week low of $101.71 and a 52-week high of $165.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating the consensus estimate of $2.16 by $0.30. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

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.