Galaxy Digital Capital Management GP LLC Takes $3.32 Million Position in Bank of New York Mellon Corporation $BNY

Galaxy Digital Capital Management GP LLC acquired a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,987 shares of the bank’s stock, valued at approximately $3,324,000. Bank of New York Mellon comprises about 1.6% of Galaxy Digital Capital Management GP LLC’s investment portfolio, making the stock its 19th largest position.

Several other institutional investors have also bought and sold shares of BNY. Focus Partners Advisor Solutions LLC purchased a new position in shares of Bank of New York Mellon in the second quarter worth approximately $1,128,000. CIBC Asset Management Inc increased its holdings in 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 buying an additional 63,627 shares during the last quarter. Todd Asset Management LLC raised its position 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 acquiring an additional 101,142 shares during the period. Prospera Financial Services Inc raised its position 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 acquiring an additional 9,865 shares during the period. Finally, Bellars Harris Wealth Management LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter worth $10,324,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

BNY has been the subject of several analyst reports. Royal Bank Of Canada upped their price objective on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods boosted their price target on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Barclays raised their price objective on 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. Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Finally, Truist Financial boosted their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Trading Up 1.0%

Bank of New York Mellon stock opened at $163.76 on Wednesday. Bank of New York Mellon Corporation has a 1 year low of $102.55 and a 1 year high of $165.68. The firm’s 50 day moving average price is $154.63 and its 200-day moving average price is $137.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $111.11 billion, a P/E ratio of 19.06, a PEG ratio of 1.15 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.30. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $1.93 earnings per share. On average, equities analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Insider Activity at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.17% of the company’s stock.

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.