Deutsche Bank AG Invests $576.05 Million in Bank of New York Mellon Corporation $BNY

Deutsche Bank AG acquired a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,983,505 shares of the bank’s stock, valued at approximately $576,055,000. Deutsche Bank AG owned approximately 0.59% of Bank of New York Mellon at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Revolve Wealth Partners LLC acquired a new position in shares of Bank of New York Mellon in the fourth quarter worth about $220,000. Sivia Capital Partners LLC raised its position in shares of Bank of New York Mellon by 36.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after purchasing an additional 909 shares during the period. Jump Financial LLC acquired a new position in Bank of New York Mellon during the 2nd quarter valued at about $2,482,000. Treasurer of the State of North Carolina increased its holdings in shares of Bank of New York Mellon by 1.7% during the second quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after purchasing an additional 5,445 shares during the period. Finally, Osterweis Capital Management Inc. raised its stake in shares of Bank of New York Mellon by 11,890.0% during the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after purchasing an additional 1,189 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $164.42 on Tuesday. Bank of New York Mellon Corporation has a 52 week low of $99.67 and a 52 week high of $165.69. 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 market cap of $111.56 billion, a PE ratio of 19.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06. The company’s 50-day moving average price is $152.42 and its two-hundred day moving average price is $135.60.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the prior year, the company earned $1.93 earnings per share. The firm’s revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction on Wednesday, July 29th. The stock was 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 through this hyperlink. 0.17% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

BNY has been the subject of several research analyst reports. 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. JPMorgan Chase & Co. boosted their price target on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Zacks Research raised shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Finally, Keefe, Bruyette & Woods raised their price objective 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. Two investment 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

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.