Bank of New York Mellon (NYSE:BNY) VP Jose Minaya Sells 3,520 Shares of Stock

Bank of New York Mellon Corporation (NYSE:BNY) VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the transaction, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. The trade was a 1.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bank of New York Mellon Trading Down 0.5%

Bank of New York Mellon stock traded down $0.77 during mid-day trading on Monday, hitting $161.73. The company’s stock had a trading volume of 5,697,773 shares, compared to its average volume of 3,674,143. The business has a 50 day moving average price of $155.73 and a 200-day moving average price of $138.13. 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 Corporation has a 12 month low of $102.63 and a 12 month high of $165.68. The stock has a market cap of $109.73 billion, a price-to-earnings ratio of 18.83, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating 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 return on equity of 16.00% and a net margin of 15.52%.The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $1.93 earnings per share. As a group, analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on BNY. Citigroup upped their target price on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Erste Group Bank assumed coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating for the company. Barclays lifted their price target on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Finally, Bank of America increased their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $157.13.

Institutional Trading of Bank of New York Mellon

Hedge funds have recently made changes to their positions in the stock. Luken Investment Analytics LLC bought a new stake in Bank of New York Mellon in the second quarter worth $27,000. EFG International AG purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $29,000. Burnham & Co LLC bought a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $29,000. Abound Financial LLC bought a new position in Bank of New York Mellon in the 4th quarter valued at approximately $25,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at $32,000. 85.31% of the stock is owned by institutional investors.

About Bank of New York Mellon

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.