Edmond DE Rothschild Holding S.A. Invests $1.09 Million in Bank of New York Mellon Corporation $BNY

Edmond DE Rothschild Holding S.A. purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,537 shares of the bank’s stock, valued at approximately $1,090,000.

A number of other institutional investors and hedge funds also recently modified their holdings of BNY. Abound Financial LLC bought a new position in Bank of New York Mellon during the 4th quarter worth approximately $25,000. N.E.W. Advisory Services LLC acquired a new position in Bank of New York Mellon during the second quarter valued at approximately $32,000. MCF Advisors LLC increased its stake in 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 in the last quarter. MidFirst Bank bought a new stake in Bank of New York Mellon in the second quarter valued at approximately $38,000. Finally, Heritage Wealth Advisors acquired a new stake in Bank of New York Mellon in the fourth quarter worth $31,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

BNY has been the topic of a number of recent analyst reports. Argus lifted 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 research report on Wednesday, July 22nd. JPMorgan Chase & Co. upped their price objective 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. Keefe, Bruyette & Woods raised their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Royal Bank Of Canada boosted 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 research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Stock Performance

Shares of BNY opened at $157.61 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. Bank of New York Mellon Corporation has a twelve month low of $100.44 and a twelve month high of $165.68. The firm’s 50 day moving average price is $153.55 and its two-hundred day moving average price is $136.46. The firm has a market cap of $106.94 billion, a P/E ratio of 18.35, a PEG ratio of 1.13 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating 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 quarter in the prior year, the company earned $1.93 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. On average, analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal 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.