Syon Capital LLC Makes New $1.96 Million Investment in Bank of New York Mellon Corporation $BNY

Syon Capital LLC bought a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 13,577 shares of the bank’s stock, valued at approximately $1,963,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Abound Financial LLC acquired a new stake in Bank of New York Mellon during the fourth quarter valued at $25,000. MCF Advisors LLC increased its position in Bank of New York Mellon by 74.8% in 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 last quarter. Luken Investment Analytics LLC acquired a new position in Bank of New York Mellon in the 2nd quarter worth about $27,000. Burnham & Co LLC purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $29,000. Finally, EFG International AG purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $29,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Stock Performance

BNY opened at $165.05 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. The company has a market cap of $111.99 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. The stock has a 50-day moving average of $157.46 and a 200-day moving average of $139.49. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.84.

Bank of New York Mellon (NYSE:BNY) last issued 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. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period last year, the business earned $1.93 EPS. The firm’s revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insider Activity at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the completion of the sale, the vice president directly owned 180,344 shares of the company’s stock, valued at approximately $29,331,148.16. This represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on BNY. Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Truist Financial raised their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Erste Group Bank began coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a “buy” rating for the company. Citigroup boosted their target price 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. Finally, JPMorgan Chase & Co. increased their price target 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. Two investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Company 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.