Capital Analysts LLC Invests $635,000 in Bank of New York Mellon Corporation $BNY

Capital Analysts LLC purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,388 shares of the bank’s stock, valued at approximately $635,000.

A number of other hedge funds have also added to or reduced their stakes in the company. California State Teachers Retirement System bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth $22,603,252,000. BlackRock Inc. bought a new position in Bank of New York Mellon in the second quarter valued at about $8,321,111,000. Northwestern Mutual Wealth Management Co. raised its stake in Bank of New York Mellon by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after acquiring an additional 19,561,793 shares in the last quarter. Bank of America Corp DE bought a new position in shares of Bank of New York Mellon in the second quarter worth about $2,499,438,000. Finally, Norges Bank bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $1,398,624,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Up 0.1%

Shares of NYSE BNY opened at $162.71 on Friday. The company has a market capitalization of $110.40 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. Bank of New York Mellon Corporation has a 52-week low of $103.11 and a 52-week high of $165.84. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The company’s 50 day moving average price is $159.25 and its 200-day moving average price is $141.06.

Bank of New York Mellon (NYSE:BNY) last posted 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 net margin of 15.52% and a return on equity of 16.00%. The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the company posted $1.93 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the transaction, the vice president directly 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BNY shares. Citigroup upped their price objective on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. raised their target price on shares of 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. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Barclays raised their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada lifted their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $157.13.

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.