MASTERINVEST Kapitalanlage GmbH Takes $1.26 Million Position in Bank of New York Mellon Corporation $BNY

MASTERINVEST Kapitalanlage GmbH bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,694 shares of the bank’s stock, valued at approximately $1,257,000.

A number of other institutional investors have also modified their holdings of the business. Almitas Capital LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter valued at $477,000. Parvin Asset Management LLC acquired a new stake in Bank of New York Mellon during the 2nd quarter worth $47,000. Proficio Capital Partners LLC purchased a new position in Bank of New York Mellon during the 2nd quarter worth $347,000. Pure Financial Advisors LLC purchased a new position in Bank of New York Mellon during the 2nd quarter worth $439,000. Finally, Transamerica Financial Advisors LLC acquired a new position in Bank of New York Mellon in the second quarter valued at $191,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BNY has been the subject of a number of research reports. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a 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. Royal Bank Of Canada boosted their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Citigroup upped their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. Finally, Argus increased their price objective on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Two research 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. According to data from MarketBeat, the company has a consensus 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Stock Down 0.5%

Bank of New York Mellon stock opened at $162.28 on Friday. The stock’s 50 day moving average price is $155.35 and its 200 day moving average price is $137.89. Bank of New York Mellon Corporation has a 1-year low of $102.63 and a 1-year high of $165.68. The company has a market cap of $110.11 billion, a PE ratio of 18.89, a price-to-earnings-growth ratio of 1.16 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 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.