Nilsine Partners LLC Buys Shares of 26,748 Bank of New York Mellon Corporation $BNY

Nilsine Partners LLC purchased a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, Holdings Channel reports. The fund purchased 26,748 shares of the bank’s stock, valued at approximately $3,868,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Abound Financial LLC bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at about $25,000. MCF Advisors LLC lifted its holdings in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the period. Luken Investment Analytics LLC bought a new position in Bank of New York Mellon in the 2nd quarter valued at about $27,000. Burnham & Co LLC bought a new position in Bank of New York Mellon in the 2nd quarter valued at about $29,000. Finally, EFG International AG acquired a new position in Bank of New York Mellon during the 2nd quarter valued at about $29,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the transaction, the vice president 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of the company’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 disclosure for this sale is available in the SEC filing. Company insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on BNY. Bank of America boosted their price target on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Citigroup increased their price objective on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a report on Monday, July 20th. Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Zacks Research raised Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Finally, Argus upped their target price on 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. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $165.05 on Friday. Bank of New York Mellon Corporation has a twelve month low of $102.63 and a twelve month high of $165.84. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The firm has a 50-day moving average of $157.46 and a two-hundred day moving average of $139.49. The company has a market capitalization of $111.99 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.24 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data 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. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The company had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the previous year, the company posted $1.93 EPS. The business’s revenue was up 13.3% compared to the same quarter last year. As a group, analysts expect that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal 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.