Polar Asset Management Partners Inc. Invests $6.28 Million in Bank of New York Mellon Corporation $BNY

Polar Asset Management Partners Inc. bought a new position in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 43,446 shares of the bank’s stock, valued at approximately $6,283,000.

Other institutional investors also recently modified their holdings of the company. Revolve Wealth Partners LLC acquired a new position in Bank of New York Mellon in the 4th quarter worth about $220,000. Sivia Capital Partners LLC raised its holdings in Bank of New York Mellon by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock valued at $309,000 after buying an additional 909 shares in the last quarter. Jump Financial LLC bought a new position in Bank of New York Mellon during the second quarter valued at about $2,482,000. Treasurer of the State of North Carolina lifted 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 worth $30,466,000 after buying an additional 5,445 shares during the last quarter. Finally, Osterweis Capital Management Inc. boosted its stake in shares of Bank of New York Mellon by 11,890.0% during the 2nd quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock worth $109,000 after acquiring an additional 1,189 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $163.76 on Wednesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $111.11 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 1.15 and a beta of 1.06. The firm has a fifty day moving average price of $154.63 and a two-hundred day moving average price of $137.32. Bank of New York Mellon Corporation has a fifty-two week low of $102.55 and a fifty-two week high of $165.68.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter in the prior year, the business earned $1.93 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS 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 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on BNY shares. Erste Group Bank initiated coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating for the company. 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. JPMorgan Chase & Co. lifted their target price on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Bank of America upped 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 report on Monday, July 20th. Finally, Citigroup lifted their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

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.