3,751 Shares in Bank of New York Mellon Corporation $BNY Purchased by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc bought a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,751 shares of the bank’s stock, valued at approximately $542,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Abound Financial LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter worth approximately $25,000. N.E.W. Advisory Services LLC bought a new stake in Bank of New York Mellon during the second quarter valued at approximately $32,000. MCF Advisors LLC lifted its position in Bank of New York Mellon by 74.8% during 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 during the last quarter. MidFirst Bank purchased a new position in Bank of New York Mellon in the 2nd quarter worth approximately $38,000. Finally, Heritage Wealth Advisors purchased a new position in Bank of New York Mellon in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Truist Financial upped their target price on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. Argus increased their target price on 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. JPMorgan Chase & Co. raised their price target on 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. Finally, Citigroup lifted their price target on Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. 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.com, Bank of New York Mellon has an average rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Trading Up 0.7%

BNY stock opened at $164.42 on Tuesday. The company has a market capitalization of $111.56 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a one year low of $99.67 and a one year high of $165.69. The company’s 50 day moving average price is $152.42 and its two-hundred day moving average price is $135.60. 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 (NYSE:BNY) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the business posted $1.93 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

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.