Peak Asset Management LLC Purchases Shares of 8,275 Bank of New York Mellon Corporation $BNY

Peak Asset Management LLC acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 8,275 shares of the bank’s stock, valued at approximately $1,197,000.

Several other large investors have also modified their holdings of the stock. Burnham & Co LLC acquired a new position in Bank of New York Mellon during the second quarter worth approximately $29,000. Abound Financial LLC purchased a new position in Bank of New York Mellon during the fourth quarter worth approximately $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $32,000. MCF Advisors LLC grew its stake in shares of Bank of New York Mellon by 74.8% during the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after buying an additional 101 shares during the period. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $36,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on BNY. Royal Bank Of Canada increased their target price on 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. Wells Fargo & Company upped their price target on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Finally, JPMorgan Chase & Co. raised their price target 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. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Trading Up 2.3%

Shares of BNY opened at $162.14 on Tuesday. Bank of New York Mellon Corporation has a 12 month low of $101.71 and a 12 month high of $165.68. The stock’s 50-day moving average is $154.24 and its two-hundred day moving average is $137.02. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $110.01 billion, a PE ratio of 18.88, a P/E/G ratio of 1.12 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion during 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%.The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.93 earnings per share. Equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

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.