Van Hulzen Asset Management LLC Acquires Shares of 6,118 Bank of New York Mellon Corporation $BNY

Van Hulzen Asset Management LLC bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, Holdings Channel.com reports. The fund bought 6,118 shares of the bank’s stock, valued at approximately $885,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Revolve Wealth Partners LLC purchased a new position in shares of Bank of New York Mellon during the fourth quarter worth approximately $220,000. Sivia Capital Partners LLC raised its position in Bank of New York Mellon by 36.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares during the last quarter. Jump Financial LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at $2,482,000. Treasurer of the State of North Carolina boosted its stake in Bank of New York Mellon by 1.7% during the 2nd quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock worth $30,466,000 after purchasing an additional 5,445 shares during the period. Finally, Osterweis Capital Management Inc. grew its position in Bank of New York Mellon by 11,890.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock worth $109,000 after purchasing an additional 1,189 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on BNY. Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Keefe, Bruyette & Woods increased 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 research note on Thursday, July 16th. Erste Group Bank assumed coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating on the stock. Royal Bank Of Canada increased their price objective on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Finally, Wells Fargo & Company lifted their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $157.13.

Insider Buying and Selling at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Up 2.3%

Bank of New York Mellon stock opened at $162.14 on Tuesday. The stock’s 50 day moving average price is $154.24 and its 200 day moving average price is $137.02. Bank of New York Mellon Corporation has a 1-year low of $101.71 and a 1-year high of $165.68. The company has a market cap of $110.01 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. 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 (NYSE:BNY) last released its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the business posted $1.93 earnings per share. Bank of New York Mellon’s revenue was up 13.3% compared to the same quarter last year. On average, sell-side 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.