New Mexico Educational Retirement Board Takes $4.95 Million Position in Bank of New York Mellon Corporation $BNY

New Mexico Educational Retirement Board acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 34,260 shares of the bank’s stock, valued at approximately $4,954,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Abound Financial LLC acquired a new stake in Bank of New York Mellon during the fourth quarter worth approximately $25,000. MCF Advisors LLC raised its holdings in Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after acquiring an additional 101 shares during the last quarter. Burnham & Co LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth $29,000. EFG International AG acquired a new stake in shares of Bank of New York Mellon during the second quarter worth $29,000. Finally, Heritage Wealth Advisors acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BNY has been the subject of several analyst reports. Barclays upped their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Wells Fargo & Company upped their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research note on Thursday, July 16th. Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. 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 report on Tuesday, August 4th. Finally, Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Two 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. Based on data from MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Stock Performance

Shares of BNY stock opened at $162.50 on Friday. The company’s fifty day simple moving average is $155.73 and its 200-day simple moving average is $138.06. Bank of New York Mellon Corporation has a 52 week low of $102.63 and a 52 week high of $165.68. 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 company has a market cap of $110.26 billion, a PE ratio of 18.92, a P/E/G ratio of 1.15 and a beta of 1.06.

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

Insider Activity at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was 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 available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

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.