Jefferies Financial Group Inc. Takes Position in Bank of New York Mellon Corporation $BNY

Jefferies Financial Group Inc. acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 255,199 shares of the bank’s stock, valued at approximately $36,904,000.

Several other institutional investors have also recently modified their holdings of BNY. Abound Financial LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $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 valued at $27,000 after acquiring an additional 101 shares in the last quarter. Burnham & Co LLC acquired a new stake in shares of Bank of New York Mellon during the second quarter valued at $29,000. EFG International AG purchased a new stake in Bank of New York Mellon during the 2nd quarter worth about $29,000. Finally, Heritage Wealth Advisors acquired a new position in Bank of New York Mellon in the 4th quarter valued at about $31,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Stock Performance

Shares of NYSE:BNY opened at $162.28 on Friday. The company has a market cap of $110.11 billion, a P/E ratio of 18.89, a PEG ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a one year low of $102.63 and a one year high of $165.68. The business’s 50-day simple moving average is $155.35 and its 200 day simple moving average is $137.89. 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 issued its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Bank of New York Mellon’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $1.93 earnings per share. On average, sell-side analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on BNY. Truist Financial raised their price target on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Wells Fargo & Company raised their target price on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. boosted their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Finally, Barclays lifted their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $157.13.

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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon 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.