Susquehanna Fundamental Investments LLC Invests $1.87 Million in Bank of New York Mellon Corporation $BNY

Susquehanna Fundamental Investments LLC acquired a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 12,914 shares of the bank’s stock, valued at approximately $1,867,000.

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

Bank of New York Mellon Trading Down 0.6%

Shares of Bank of New York Mellon stock opened at $160.27 on Wednesday. Bank of New York Mellon Corporation has a fifty-two week low of $102.63 and a fifty-two week high of $165.68. The business’s fifty day moving average is $156.29 and its two-hundred day moving average is $138.65. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a market cap of $108.74 billion, a PE ratio of 18.66, a P/E/G ratio of 1.21 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 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.93 earnings per share. Analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on BNY shares. Argus upped their target price on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. Erste Group Bank initiated coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating for the company. Bank of America boosted their price target 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. JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Finally, Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Two equities 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $157.13.

Insider Activity

In other news, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were 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 of the company’s stock, valued at $29,331,148.16. This represents a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

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.