Raiffeisen Bank International AG Takes $11.37 Million Position in Bank of New York Mellon Corporation $BNY

Raiffeisen Bank International AG bought a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 79,042 shares of the bank’s stock, valued at approximately $11,366,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BNY. BlackRock Inc. purchased a new position in Bank of New York Mellon during the 2nd quarter valued at approximately $8,321,111,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of 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 acquiring an additional 19,561,793 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $2,499,438,000. Norges Bank bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $1,398,624,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Bank of New York Mellon in the second quarter valued at $1,214,193,000. 85.31% of the stock is owned by institutional investors.

Insider Buying and Selling 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 shares were 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 can be accessed through this link. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the transaction, the vice president owned 180,344 shares in the company, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

BNY has been the topic of several research reports. Royal Bank Of Canada boosted their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Argus increased their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Barclays lifted their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They issued a “buy” rating on the stock. Finally, Citigroup upped their target price on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $164.19 on Friday. The business’s 50 day moving average price is $157.03 and its 200-day moving average price is $139.31. Bank of New York Mellon Corporation has a fifty-two week low of $102.63 and a fifty-two week high of $165.68. The company has a market cap of $111.40 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.22 and a beta of 1.05. 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 results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping 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 return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon’s revenue was up 13.3% on a year-over-year basis. During the same period last year, the company earned $1.93 earnings per share. Sell-side analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

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.