Stableford Capital II LLC Takes $1.54 Million Position in Bank of New York Mellon Corporation $BNY

Stableford Capital II LLC acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,658 shares of the bank’s stock, valued at approximately $1,541,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Luken Investment Analytics LLC bought a new position in Bank of New York Mellon in the second quarter valued at about $27,000. EFG International AG bought a new position in shares of Bank of New York Mellon during the second quarter valued at $29,000. Burnham & Co LLC bought a new position in Bank of New York Mellon during the 2nd quarter worth $29,000. Abound Financial LLC acquired a new stake in shares of Bank of New York Mellon in the fourth quarter valued at about $25,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Bank of New York Mellon during the second quarter worth about $32,000. Institutional investors own 85.31% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on BNY. JPMorgan Chase & Co. lifted their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Wells Fargo & Company lifted their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Erste Group Bank began coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating on the stock. Barclays increased their price target on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Two investment 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Stock Down 1.2%

BNY opened at $162.91 on Wednesday. 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 stock has a market cap of $110.53 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.24 and a beta of 1.05. Bank of New York Mellon Corporation has a twelve month low of $102.63 and a twelve month high of $165.84. The company’s 50-day moving average price is $158.26 and its two-hundred day moving average price is $140.28.

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 for the quarter, topping the consensus estimate of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm posted $1.93 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Transactions at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the sale, the vice president owned 180,344 shares of the company’s stock, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their position. The SEC filing for this sale provides additional information. 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.