Plato Investment Management Ltd Invests $4.74 Million in Bank of New York Mellon Corporation $BNY

Plato Investment Management Ltd purchased a new stake in 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. The firm purchased 32,963 shares of the bank’s stock, valued at approximately $4,739,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Abound Financial LLC acquired a new position in Bank of New York Mellon during the 4th quarter worth approximately $25,000. N.E.W. Advisory Services LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $32,000. MCF Advisors LLC grew its stake in shares of Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after buying an additional 101 shares during the last quarter. Heritage Wealth Advisors bought a new stake in shares of Bank of New York Mellon during the fourth quarter worth $31,000. Finally, Wilkerson Advisory Group LLC acquired a new position in shares of Bank of New York Mellon during the fourth quarter worth $31,000. 85.31% of the stock is owned by institutional investors.

Insider Transactions at Bank of New York Mellon

In other news, 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 value of $4,937,268.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BNY. JPMorgan Chase & Co. increased their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Truist Financial upped their target price on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Citigroup lifted their price target 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. Royal Bank Of Canada boosted their target price on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Finally, Bank of America raised their price target on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Two research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Trading Up 0.0%

NYSE BNY opened at $163.30 on Monday. The firm has a market capitalization of $110.80 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. The business’s 50-day moving average price is $151.97 and its two-hundred day moving average price is $135.28. 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 Corporation has a 12 month low of $99.67 and a 12 month high of $163.77.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the firm earned $1.93 earnings per share. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. On average, analysts expect 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.