Visionary Wealth Advisors acquired a new position in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 90,673 shares of the bank’s stock, valued at approximately $13,112,000.
A number of other large investors have also recently modified their holdings of BNY. Focus Partners Advisor Solutions LLC bought a new position in shares of Bank of New York Mellon in the 2nd quarter worth approximately $1,128,000. CIBC Asset Management Inc boosted its position in shares of Bank of New York Mellon by 53.8% during the fourth quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock valued at $21,129,000 after purchasing an additional 63,627 shares in the last quarter. Todd Asset Management LLC grew its stake in Bank of New York Mellon by 37.5% in the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock worth $43,069,000 after purchasing an additional 101,142 shares during the period. Prospera Financial Services Inc grew its stake in Bank of New York Mellon by 106.5% in the fourth quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock worth $2,220,000 after purchasing an additional 9,865 shares during the period. Finally, Bellars Harris Wealth Management LLC bought a new position in Bank of New York Mellon in the second quarter worth $10,324,000. Institutional investors own 85.31% of the company’s stock.
Analyst Ratings Changes
BNY has been the subject of several recent research reports. Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Wells Fargo & Company upped 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. Barclays increased their price target 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. JPMorgan Chase & Co. lifted 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 research report on Tuesday, August 4th. Finally, Bank of America boosted their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock 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 assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Bank of New York Mellon currently 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 the company’s stock in a transaction dated 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 legal filing with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by insiders.
Bank of New York Mellon Stock Up 2.3%
Shares of NYSE:BNY opened at $162.14 on Tuesday. 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 stock has a fifty day simple moving average of $154.24 and a two-hundred day simple moving average of $137.02. Bank of New York Mellon Corporation has a 12-month low of $101.71 and a 12-month high of $165.68. The stock has a market capitalization of $110.01 billion, a price-to-earnings ratio of 18.88, a PEG ratio of 1.12 and a beta of 1.06.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last released its earnings results 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 firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period in the prior year, the firm posted $1.93 earnings per share. The company’s quarterly revenue was up 13.3% on a year-over-year basis. On average, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal 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.
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