Bank of New York Mellon Corporation $BNY Stock Holdings Increased by Vest Financial LLC

Vest Financial LLC raised its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 3.9% in the third quarter, Holdings Channel.com reports. The fund owned 549,065 shares of the bank’s stock after acquiring an additional 20,833 shares during the quarter. Bank of New York Mellon makes up about 0.8% of Vest Financial LLC’s investment portfolio, making the stock its 25th largest position. Vest Financial LLC’s holdings in Bank of New York Mellon were worth $79,411,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BNY. BlackRock Inc. acquired a new position in shares of Bank of New York Mellon during the 2nd quarter worth $8,321,111,000. Bank of America Corp DE bought a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bank of New York Mellon during the 2nd quarter valued at $1,214,193,000. Wellington Management Group LLP acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $1,175,576,000. Finally, Amundi acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $985,533,000. 85.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BNY. Barclays upped their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. New Street Research set a $182.00 target price on Bank of New York Mellon in a report on Friday, October 16th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Bank of New York Mellon in a report on Friday, October 16th. Erste Group Bank initiated coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating for the company. Finally, Zacks Research cut Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $164.62.

Insiders Place Their Bets

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction on 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 document filed with the SEC, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon 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 completion of the transaction, the vice president owned 176,824 shares in the company, valued at $26,309,642.96. This trade represents a 1.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 38,840 shares of company stock worth $6,033,502 over the last quarter. 0.17% of the stock is currently owned by company insiders.

Bank of New York Mellon Trading Up 1.2%

Shares of BNY stock opened at $146.05 on Thursday. Bank of New York Mellon Corporation has a 12 month low of $105.36 and a 12 month high of $165.84. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The business’s 50 day moving average is $153.70 and its two-hundred day moving average is $147.07. The company has a market cap of $99.09 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 1.04 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.11. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The company had revenue of $5.68 billion for the quarter. Bank of New York Mellon’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts predict that Bank of New York Mellon Corporation will post 9.35 EPS for the current year.

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.