Bank of New York Mellon (NYSE:BNY) VP Sells $523,740.80 in Stock

Bank of New York Mellon Corporation (NYSE:BNY) VP Jose Minaya sold 3,520 shares of the stock in a transaction on Monday, September 28th. The stock was sold at an average price of $148.79, for a total transaction of $523,740.80. Following the sale, the vice president directly owned 176,824 shares in the company, valued at $26,309,642.96. This trade represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Jose Minaya also recently made the following trade(s):

• On Thursday, August 27th, Jose Minaya sold 3,520 shares of Bank of New York Mellon stock. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80.

Bank of New York Mellon Trading Up 1.0%

BNY stock opened at $145.34 on Friday. The company’s 50-day simple moving average is $157.61 and its 200-day simple moving average is $144.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a 52-week low of $103.11 and a 52-week high of $165.84. The firm has a market cap of $98.61 billion, a P/E ratio of 16.92, a PEG ratio of 1.08 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.30. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.Bank of New York Mellon’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. As a group, equities analysts forecast that Bank of New York Mellon Corporation will post 9.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Bank of New York Mellon

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CX Institutional grew its stake in shares of Bank of New York Mellon by 31.9% in the 3rd quarter. CX Institutional now owns 12,837 shares of the bank’s stock valued at $2,044,000 after buying an additional 3,104 shares during the period. Sarver Vrooman Wealth Advisors increased its holdings in shares of Bank of New York Mellon by 25.8% during the 3rd quarter. Sarver Vrooman Wealth Advisors now owns 1,546 shares of the bank’s stock worth $242,000 after buying an additional 317 shares during the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $47,929,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $11,295,000. Finally, Silicon Valley Capital Partners purchased a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Truist Financial reduced their target price on Bank of New York Mellon from $178.00 to $172.00 and set a “buy” rating for the company in a research note on Friday, September 25th. Bank of America lifted 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 note on Monday, July 20th. Argus boosted their price target on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada increased their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $159.14.

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.