Wedbush Securities Inc. Purchases Shares of 15,075 Bank of New York Mellon Corporation $BNY

Wedbush Securities Inc. acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,075 shares of the bank’s stock, valued at approximately $2,180,000.

Several other large investors have also recently modified their holdings of the stock. EFG International AG bought a new position in shares of Bank of New York Mellon in the second quarter worth approximately $29,000. Burnham & Co LLC bought a new stake in Bank of New York Mellon during the 2nd quarter valued at $29,000. Abound Financial LLC purchased a new stake in Bank of New York Mellon during the 4th quarter valued at $25,000. N.E.W. Advisory Services LLC bought a new stake in Bank of New York Mellon in the 2nd quarter worth $32,000. Finally, MCF Advisors LLC raised its stake in shares of Bank of New York Mellon by 74.8% during 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 during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of NYSE:BNY opened at $162.50 on Monday. The stock has a fifty day simple moving average of $155.73 and a two-hundred day simple moving average of $138.13. The stock has a market capitalization of $110.26 billion, a price-to-earnings ratio of 18.92, a PEG ratio of 1.15 and a beta of 1.06. Bank of New York Mellon Corporation has a 12-month low of $102.63 and a 12-month 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.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate 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 business had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the company posted $1.93 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Barclays upped 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 report on Thursday, July 16th. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Truist Financial increased 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. Bank of America raised 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 report on Monday, July 20th. Finally, Royal Bank Of Canada upped 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 report on Thursday, July 16th. 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 stock. According to MarketBeat, Bank of New York Mellon has an average rating of “Moderate Buy” and an average price target 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 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.