Mufg Securities Americas Inc. Takes $3.28 Million Position in Bank of New York Mellon Corporation $BNY

Mufg Securities Americas Inc. acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, HoldingsChannel reports. The fund acquired 22,697 shares of the bank’s stock, valued at approximately $3,282,000.

Several other large investors have also made changes to their positions in the company. EFG International AG acquired a new stake in Bank of New York Mellon during the second quarter worth about $29,000. Burnham & Co LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth about $29,000. Abound Financial LLC acquired a new position in shares of Bank of New York Mellon in the 4th quarter valued at about $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $32,000. Finally, MCF Advisors LLC grew its holdings in shares of Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the period. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bank of New York Mellon

In related 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on BNY shares. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Weiss Ratings lowered 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. Finally, Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Stock Performance

Bank of New York Mellon stock opened at $162.50 on Friday. Bank of New York Mellon Corporation has a 12-month low of $102.63 and a 12-month high of $165.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $110.26 billion, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The firm’s fifty day moving average price is $155.73 and its 200 day moving average price is $138.06.

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, beating analysts’ consensus estimates of $2.16 by $0.30. The company 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 for the quarter was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 EPS. On average, research analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

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.