Landscape Capital Management L.L.C. Invests $464,000 in Bank of New York Mellon Corporation $BNY

Landscape Capital Management L.L.C. bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,208 shares of the bank’s stock, valued at approximately $464,000.

A number of other large investors have also recently bought and sold shares of BNY. Korea Investment CORP purchased a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $99,353,000. EP Wealth Advisors LLC purchased a new position in shares of Bank of New York Mellon during the second quarter worth $1,974,000. Ieq Capital LLC acquired a new position in Bank of New York Mellon during the second quarter valued at $8,907,000. Burnham & Co LLC acquired a new position in Bank of New York Mellon during the second quarter valued at $29,000. Finally, Callan Family Office LLC purchased a new stake in Bank of New York Mellon in the second quarter valued at $16,237,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays increased their price target on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Truist Financial upped their target price on Bank of New York Mellon from $160.00 to $178.00 and gave the stock a “buy” rating in a research note on Thursday, July 16th. Citigroup raised their target price on Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a report on Monday, July 20th. Finally, Keefe, Bruyette & Woods lifted their price target on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research report on Thursday, July 16th. Two research 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 company. Based on data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $157.13.

Insider Transactions at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.17% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Up 2.3%

Shares of NYSE:BNY opened at $162.14 on Tuesday. Bank of New York Mellon Corporation has a 1 year low of $101.71 and a 1 year high of $165.68. The firm has a market capitalization of $110.01 billion, a price-to-earnings ratio of 18.88, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. 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 business’s 50 day moving average price is $154.24 and its 200-day moving average price is $137.02.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.93 EPS. On average, equities research analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

About Bank of New York Mellon

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.