912,584 Shares in Bank of New York Mellon Corporation $BNY Purchased by Danske Bank A S

Danske Bank A S acquired a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 912,584 shares of the bank’s stock, valued at approximately $131,969,000. Danske Bank A S owned 0.13% of Bank of New York Mellon at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Abound Financial LLC purchased a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $25,000. MCF Advisors LLC lifted its stake in shares of Bank of New York Mellon by 74.8% in the 4th 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 period. Heritage Wealth Advisors bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $31,000. Wilkerson Advisory Group LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Bank of New York Mellon in the second quarter worth $32,000. 85.31% of the stock is owned by institutional investors.

Bank of New York Mellon Stock Down 0.3%

Shares of NYSE:BNY opened at $163.80 on Wednesday. The stock has a fifty day simple moving average of $152.84 and a two-hundred day simple moving average of $135.92. The stock has a market capitalization of $111.14 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 12-month low of $99.67 and a 12-month high of $165.68. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Wednesday, July 15th. The bank reported $2.46 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 business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the company posted $1.93 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BNY. Wells Fargo & Company increased their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. JPMorgan Chase & Co. boosted their target price on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Citigroup upped 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. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction dated 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 available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

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.