Optimize Financial Inc. Invests $596,000 in Bank of New York Mellon Corporation $BNY

Optimize Financial Inc. bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,120 shares of the bank’s stock, valued at approximately $596,000.

Other large investors also recently made changes to their positions in the company. California State Teachers Retirement System bought a new stake in Bank of New York Mellon in the 2nd quarter valued at $22,603,252,000. BlackRock Inc. acquired a new position in Bank of New York Mellon in the 2nd quarter valued at $8,321,111,000. Northwestern Mutual Wealth Management Co. increased its position in Bank of New York Mellon by 18,044.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after buying an additional 19,561,793 shares during the period. Bank of America Corp DE bought a new position in Bank of New York Mellon during the 2nd quarter worth $2,499,438,000. Finally, Norges Bank acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $1,398,624,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $165.05 on Monday. The business has a fifty day moving average price of $157.46 and a two-hundred day moving average price of $139.65. The stock has a market capitalization of $111.99 billion, a PE ratio of 19.21, a P/E/G ratio of 1.24 and a beta of 1.05. 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 Corporation has a fifty-two week low of $102.63 and a fifty-two week high of $165.84.

Bank of New York Mellon (NYSE:BNY) last released its earnings results 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. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.93 EPS. As a group, equities analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insider Activity

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the transaction, the vice president directly owned 180,344 shares of the company’s stock, valued at $29,331,148.16. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BNY. 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 research report on Tuesday, August 4th. Argus lifted their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Bank of America lifted their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research report 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 analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $157.13.

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.