3,885 Shares in Bank of New York Mellon Corporation $BNY Bought by Laidlaw Wealth Management LLC

Laidlaw Wealth Management LLC purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,885 shares of the bank’s stock, valued at approximately $562,000. Bank of New York Mellon makes up about 1.6% of Laidlaw Wealth Management LLC’s portfolio, making the stock its 19th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in the company. C M Bidwell & Associates Ltd. bought a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $654,000. Keebeck Wealth Management bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $333,000. Keating Financial Advisory Services Inc. bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $134,000. Allworth Financial LP acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $4,709,000. Finally, Greenspring Advisors LLC bought a new position in Bank of New York Mellon during the second quarter worth about $282,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BNY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Truist Financial boosted their target price 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, Wells Fargo & Company increased their price target on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $158.72 on Friday. Bank of New York Mellon Corporation has a 12 month low of $101.71 and a 12 month high of $165.68. The stock’s 50 day moving average is $153.85 and its 200-day moving average is $136.61. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $107.69 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.12 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm posted $1.93 EPS. Equities research 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.