United Capital Financial Advisors LLC Buys New Shares in Bank of New York Mellon Corporation $BNY

United Capital Financial Advisors LLC purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, Holdings Channel.com reports. The firm purchased 43,924 shares of the bank’s stock, valued at approximately $6,352,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abound Financial LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter valued at about $25,000. MCF Advisors LLC grew its position in shares of Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. Burnham & Co LLC bought a new stake in Bank of New York Mellon during the 2nd quarter valued at approximately $29,000. EFG International AG purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $29,000. Finally, Heritage Wealth Advisors bought a new position in Bank of New York Mellon in the 4th quarter worth approximately $31,000. 85.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on BNY. Argus increased their price objective on shares of 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. Barclays upped their target price on shares of 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. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Stock Down 0.5%

Shares of BNY opened at $162.28 on Friday. The business’s 50 day simple moving average is $155.35 and its 200-day simple moving average is $137.89. Bank of New York Mellon Corporation has a 1 year low of $102.63 and a 1 year high of $165.68. The stock has a market capitalization of $110.11 billion, a price-to-earnings ratio of 18.89, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data 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 business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the business earned $1.93 earnings per share. Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.17% of the stock is owned by insiders.

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.