Bank of New York Mellon Target of Unusually Large Options Trading (NYSE:BNY)

Bank of New York Mellon Corporation (NYSE:BNY) was the target of unusually large options trading on Tuesday. Stock investors bought 30,335 put options on the company. This represents an increase of approximately 782% compared to the typical volume of 3,438 put options.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. 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 report on Thursday, July 16th. 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. Barclays increased their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.13.

Insider Activity at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’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 filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bank of New York Mellon

Several institutional investors have recently bought and sold shares of BNY. Focus Partners Advisor Solutions LLC bought a new stake in Bank of New York Mellon in the 2nd quarter worth approximately $1,128,000. CIBC Asset Management Inc raised its holdings in shares of Bank of New York Mellon by 53.8% during the 4th quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock worth $21,129,000 after acquiring an additional 63,627 shares in the last quarter. Todd Asset Management LLC boosted its position in shares of Bank of New York Mellon by 37.5% during the 4th quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after acquiring an additional 101,142 shares during the last quarter. Prospera Financial Services Inc grew its holdings in shares of Bank of New York Mellon by 106.5% in the fourth quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock valued at $2,220,000 after purchasing an additional 9,865 shares in the last quarter. Finally, Bellars Harris Wealth Management LLC purchased a new position in shares of Bank of New York Mellon in the second quarter valued at $10,324,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

BNY traded down $0.47 on Tuesday, hitting $163.80. 2,016,236 shares of the company’s stock traded hands, compared to its average volume of 3,737,114. The company’s 50 day simple moving average is $152.84 and its 200-day simple moving average is $135.92. The firm has a market cap of $111.14 billion, a price-to-earnings ratio of 19.07, a P/E/G ratio of 1.16 and a beta of 1.06. Bank of New York Mellon has a one year low of $99.67 and a one year 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 posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share 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 during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the prior year, the company posted $1.93 EPS. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, research analysts anticipate that Bank of New York Mellon will post 9.26 EPS for the current 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.