TD Waterhouse Canada Inc. Purchases Shares of 611,028 Bank of New York Mellon Corporation $BNY

TD Waterhouse Canada 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 611,028 shares of the bank’s stock, valued at approximately $89,285,000.

Other large investors have also recently modified their holdings of the company. Linscomb Wealth Inc. lifted its stake in shares of Bank of New York Mellon by 2.5% in the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock valued at $376,000 after acquiring an additional 80 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Bank of New York Mellon by 3.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock worth $326,000 after acquiring an additional 88 shares during the last quarter. Essex Financial Services Inc. increased its stake in Bank of New York Mellon by 0.5% in the 4th quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after purchasing an additional 89 shares during the period. Maia Wealth LLC increased its stake in Bank of New York Mellon by 3.0% in the 4th quarter. Maia Wealth LLC now owns 3,049 shares of the bank’s stock worth $350,000 after purchasing an additional 90 shares during the period. Finally, Nemes Rush Group LLC lifted its position in Bank of New York Mellon by 12.8% in the fourth quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock valued at $94,000 after purchasing an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 1.3%

NYSE BNY opened at $164.19 on Friday. The stock has a market cap of $111.40 billion, a P/E ratio of 19.11, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05. Bank of New York Mellon Corporation has a fifty-two week low of $102.63 and a fifty-two week high of $165.68. The stock has a 50 day simple moving average of $157.03 and a two-hundred day simple moving average of $139.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last posted its 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. 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 earned $1.93 earnings per share. On average, analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Buying and Selling at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the sale, the vice president directly owned 180,344 shares in the company, valued at $29,331,148.16. The trade was a 1.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report 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. Bank of America increased their price target on shares of 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. Citigroup raised their price target on shares of 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. Finally, Weiss Ratings cut shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Two 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 stock. Based on data from MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $157.13.

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.