Compass Financial Management LLC Invests $761,000 in Bank of New York Mellon Corporation $BNY

Compass Financial Management LLC bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,998 shares of the bank’s stock, valued at approximately $761,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Elevation Point Wealth Partners LLC acquired a new stake in Bank of New York Mellon during the second quarter worth approximately $5,622,000. Alta Advisers Ltd acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $379,000. Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $4,575,000. Commerce Bank purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $7,636,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in Bank of New York Mellon during the 2nd quarter worth $13,234,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is currently owned by corporate insiders.

Bank of New York Mellon Stock Up 0.1%

BNY stock opened at $158.72 on Monday. The company has a market cap of $107.69 billion, a price-to-earnings ratio of 18.48, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. The company has a fifty day moving average price of $153.85 and a 200 day moving average price of $136.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon Corporation has a 12 month low of $101.71 and a 12 month high of $165.68.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the business posted $1.93 earnings per share. Bank of New York Mellon’s quarterly revenue was up 13.3% on a year-over-year basis. Sell-side analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BNY has been the subject of a number of research reports. Erste Group Bank assumed coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating for the company. Citigroup raised their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Finally, Bank of America upped their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

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.