Waycross Investment Management Co Acquires Shares of 4,000 Bank of New York Mellon Corporation $BNY

Waycross Investment Management Co acquired a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,000 shares of the bank’s stock, valued at approximately $578,000.

Other large investors have also recently made changes to their positions in the company. Abound Financial LLC purchased a new position in Bank of New York Mellon in the fourth quarter worth about $25,000. MCF Advisors LLC raised its position in 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 purchasing an additional 101 shares during the period. Luken Investment Analytics LLC purchased a new stake in Bank of New York Mellon during the second quarter valued at approximately $27,000. Burnham & Co LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $29,000. Finally, EFG International AG purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth approximately $29,000. 85.31% of the stock is currently owned by institutional investors.

Insider Transactions at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the transaction, the vice president owned 180,344 shares of the company’s stock, valued at $29,331,148.16. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. 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. Keefe, Bruyette & Woods increased their target price on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Royal Bank Of Canada raised their target price on shares of 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. Finally, Erste Group Bank began coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, ten have given 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.

Bank of New York Mellon Price Performance

BNY opened at $162.09 on Thursday. The business has a fifty day moving average of $156.65 and a 200 day moving average of $138.99. The stock has a market cap of $109.98 billion, a P/E ratio of 18.87, a PEG ratio of 1.21 and a beta of 1.05. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.68.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion for 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 business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.93 earnings per share. As a group, sell-side analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current 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.