Deutsche Bank AG Acquires Shares of 3,983,505 Bank of New York Mellon Corporation $BNY

Deutsche Bank AG bought a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 3,983,505 shares of the bank’s stock, valued at approximately $576,055,000.

Several other institutional investors have also made changes to their positions in the company. Perigon Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon during the second quarter valued at approximately $1,306,000. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $3,280,000. Trust Co. of Vermont acquired a new position in Bank of New York Mellon in the 2nd quarter worth approximately $1,765,000. Principle Wealth Partners LLC acquired a new position in Bank of New York Mellon in the 2nd quarter worth approximately $2,304,000. Finally, UP Strategic Wealth Investment Advisors LLC purchased a new position in Bank of New York Mellon during the 2nd quarter worth approximately $321,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

Shares of NYSE BNY opened at $164.42 on Tuesday. The business’s 50-day moving average price is $152.42 and its two-hundred day moving average price is $135.60. 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 one year low of $99.67 and a one year high of $165.69. The company has a market capitalization of $111.56 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. The company 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 quarterly revenue was up 13.3% on a year-over-year basis. During the same period last year, the business earned $1.93 EPS. Analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. Truist Financial upped their target price 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. Citigroup increased their price target 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. Argus raised their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of 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. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $157.13.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.