SVB Wealth LLC Buys New Holdings in Bank of New York Mellon Corporation $BNY

SVB Wealth LLC purchased 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 Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,016 shares of the bank’s stock, valued at approximately $2,027,000.

A number of other institutional investors have also recently bought and sold shares of BNY. Revolve Wealth Partners LLC acquired a new stake in Bank of New York Mellon during the 4th quarter valued at $220,000. Sivia Capital Partners LLC increased its holdings in shares of Bank of New York Mellon by 36.6% in the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after purchasing an additional 909 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Bank of New York Mellon in the second quarter valued at $2,482,000. Treasurer of the State of North Carolina raised its position in shares of Bank of New York Mellon by 1.7% in 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 position in shares of Bank of New York Mellon by 11,890.0% in 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 during the period. Institutional investors and hedge funds own 85.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Argus raised their price objective on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Bank of America boosted their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Barclays upped their target price on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, 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 Trading Up 0.1%

BNY stock opened at $163.08 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The company’s 50-day simple moving average is $158.60 and its 200 day simple moving average is $140.59. Bank of New York Mellon Corporation has a 52 week low of $102.63 and a 52 week high of $165.84. The company has a market capitalization of $110.65 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.22 and a beta of 1.05.

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

Insider Activity at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the sale, the vice president directly owned 180,344 shares in the company, valued at approximately $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by company insiders.

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.