15,080 Shares in Bank of New York Mellon Corporation $BNY Purchased by RB Capital Management LLC

RB Capital Management LLC bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,080 shares of the bank’s stock, valued at approximately $2,181,000.

Other institutional investors have also recently bought and sold shares of the company. Abound Financial LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter worth approximately $25,000. MCF Advisors LLC lifted its position in shares of Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares in the last quarter. Burnham & Co LLC bought a new stake in shares of Bank of New York Mellon in the second quarter worth $29,000. EFG International AG acquired a new position in Bank of New York Mellon during the second quarter worth $29,000. Finally, Heritage Wealth Advisors acquired a new position in Bank of New York Mellon during the fourth quarter worth $31,000. Institutional investors own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BNY. Truist Financial lifted their price target on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods increased their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Bank of America raised their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 20th. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, JPMorgan Chase & Co. upped their target price on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $162.50 on Friday. The firm has a market capitalization of $110.26 billion, a P/E ratio of 18.92, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm’s fifty day moving average price is $155.73 and its two-hundred day moving average price is $138.06. Bank of New York Mellon Corporation has a 1 year low of $102.63 and a 1 year high of $165.68.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.93 EPS. As a group, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current 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.