Hsbc Holdings PLC Makes New $255.68 Million Investment in Bank of New York Mellon Corporation $BNY

Hsbc Holdings PLC purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,765,095 shares of the bank’s stock, valued at approximately $255,681,000. Hsbc Holdings PLC owned approximately 0.26% of Bank of New York Mellon at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BNY. Linscomb Wealth Inc. increased its stake in shares of Bank of New York Mellon by 2.5% during the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after buying an additional 80 shares during the period. Parkside Financial Bank & Trust grew its holdings in Bank of New York Mellon by 3.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock worth $326,000 after acquiring an additional 88 shares in the last quarter. Essex Financial Services Inc. increased its position in shares of Bank of New York Mellon by 0.5% in the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock valued at $2,041,000 after purchasing an additional 89 shares during the last quarter. Maia Wealth LLC raised its holdings in shares of Bank of New York Mellon by 3.0% in the 4th quarter. Maia Wealth LLC now owns 3,049 shares of the bank’s stock valued at $350,000 after purchasing an additional 90 shares in the last quarter. Finally, Nemes Rush Group LLC lifted its position in shares of Bank of New York Mellon by 12.8% during the 4th quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock worth $94,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $163.76 on Wednesday. The firm has a market capitalization of $111.11 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The company has a 50 day moving average price of $154.63 and a 200 day moving average price of $137.32. Bank of New York Mellon Corporation has a one year low of $102.55 and a one year high of $165.68. 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 results 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 analysts’ expectations of $5.35 billion. During the same period in the prior year, the company earned $1.93 EPS. The firm’s revenue was up 13.3% on a year-over-year basis. Sell-side analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

BNY has been the topic of several recent analyst reports. Truist Financial increased their target price on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company raised their price target 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. Bank of America boosted their price target on 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. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.