5,647 Shares in Bank of New York Mellon Corporation $BNY Bought by Csenge Advisory Group

Csenge Advisory Group purchased a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,647 shares of the bank’s stock, valued at approximately $817,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Linscomb Wealth Inc. boosted its position in Bank of New York Mellon by 2.5% during the 4th quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after buying an additional 80 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Bank of New York Mellon by 3.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock valued at $326,000 after acquiring an additional 88 shares during the last quarter. Essex Financial Services Inc. lifted its holdings in shares of Bank of New York Mellon by 0.5% during the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock worth $2,041,000 after purchasing an additional 89 shares during the period. Maia Wealth LLC grew its stake in shares of Bank of New York Mellon by 3.0% in the fourth quarter. Maia Wealth LLC now owns 3,049 shares of the bank’s stock worth $350,000 after purchasing an additional 90 shares during the last quarter. Finally, Nemes Rush Group LLC grew its stake in shares of Bank of New York Mellon by 12.8% in the fourth quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock worth $94,000 after purchasing an additional 92 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BNY shares. JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Bank of America lifted their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. 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 report on Thursday, July 16th. Citigroup increased their target price on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Argus raised 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. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Price Performance

Bank of New York Mellon stock opened at $159.88 on Thursday. The stock has a market capitalization of $108.48 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.16 and a beta of 1.06. Bank of New York Mellon Corporation has a 52-week low of $99.67 and a 52-week high of $165.68. 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 stock’s 50 day moving average price is $153.24 and its two-hundred day moving average price is $136.19.

Bank of New York Mellon (NYSE:BNY) last posted 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. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.35 billion. During the same period in the previous year, the firm posted $1.93 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. On average, equities analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

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.