Danske Bank A S Buys New Position in Bank of New York Mellon Corporation $BNY

Danske Bank A S purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 729,818 shares of the bank’s stock, valued at approximately $105,539,000. Danske Bank A S owned about 0.11% of Bank of New York Mellon as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in BNY. Diversify Advisory Services LLC acquired a new position in shares of Bank of New York Mellon during the second quarter valued at about $2,663,000. Gables Capital Management Inc. purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $159,000. Wealthfront Advisers LLC acquired a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $14,559,000. Foster & Motley Inc. acquired a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $339,000. Finally, American Financial & Tax Strategies Inc. purchased a new stake in Bank of New York Mellon during the 2nd quarter worth approximately $234,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

BNY has been the topic of a number of recent analyst reports. Argus upped their price target on shares of 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 began coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating on the stock. Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Finally, Truist Financial increased their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Bank of New York Mellon presently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Insider Buying and Selling at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Stock Down 0.3%

NYSE:BNY opened at $163.80 on Wednesday. The firm has a market capitalization of $111.14 billion, a P/E ratio of 19.07, a PEG ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 1-year low of $99.67 and a 1-year high of $165.68. The company’s fifty day moving average price is $152.84 and its 200-day moving average price is $135.92. 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 issued its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.30. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The firm’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.93 earnings per share. As a group, equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

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.