Haverford Trust Co Purchases New Holdings in Bank of New York Mellon Corporation $BNY

Haverford Trust Co acquired 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,720 shares of the bank’s stock, valued at approximately $538,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in Bank of New York Mellon by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 71,319,884 shares of the bank’s stock valued at $8,279,525,000 after buying an additional 647,847 shares during the last quarter. BlackRock Inc. bought a new stake in Bank of New York Mellon in the second quarter worth $8,321,111,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Bank of New York Mellon by 18,044.4% in 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 during the last quarter. Norges Bank purchased a new stake in shares of Bank of New York Mellon in the fourth quarter worth $1,398,624,000. Finally, Invesco Ltd. increased its holdings in shares of Bank of New York Mellon by 8.2% during the fourth quarter. Invesco Ltd. now owns 7,680,429 shares of the bank’s stock valued at $891,621,000 after acquiring an additional 578,999 shares in the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BNY shares. Erste Group Bank initiated coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating for the company. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Argus raised their price objective 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. Keefe, Bruyette & Woods lifted their target price on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Bank of America upped their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Stock Up 0.1%

Bank of New York Mellon stock opened at $158.72 on Monday. Bank of New York Mellon Corporation has a 12 month low of $101.71 and a 12 month high of $165.68. The stock has a fifty day simple moving average of $153.85 and a two-hundred day simple moving average of $136.72. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a market cap of $107.69 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 1.12 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the company posted $1.93 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. Equities analysts predict 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.