Bank of New York Mellon Corporation $BNY Stock Acquired by Sowell Financial Services LLC

Sowell Financial Services LLC increased its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 93.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 17,534 shares of the bank’s stock after buying an additional 8,454 shares during the period. Sowell Financial Services LLC’s holdings in Bank of New York Mellon were worth $2,536,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Luken Investment Analytics LLC acquired a new position in Bank of New York Mellon during the second quarter worth approximately $27,000. EFG International AG purchased a new position in Bank of New York Mellon during the second quarter worth approximately $29,000. Burnham & Co LLC purchased a new position in Bank of New York Mellon during the second quarter worth approximately $29,000. N.E.W. Advisory Services LLC purchased a new position in Bank of New York Mellon during the second quarter worth approximately $32,000. Finally, Retirement Wealth Solutions LLC acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $35,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BNY. Barclays boosted their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Erste Group Bank started coverage on Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating for the company. Argus increased 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. Zacks Research cut Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Finally, Bank of America boosted their price target on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.62.

Insider Buying and Selling

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the company’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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jose Minaya sold 3,520 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $148.79, for a total transaction of $523,740.80. Following the completion of the sale, the vice president directly owned 176,824 shares of the company’s stock, valued at $26,309,642.96. This trade represents a 1.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 38,840 shares of company stock valued at $6,033,502. 0.17% of the stock is owned by company insiders.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $145.00 on Friday. Bank of New York Mellon Corporation has a 1-year low of $105.42 and a 1-year high of $165.84. The business has a 50-day moving average of $153.35 and a 200-day moving average of $147.23. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $98.38 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.05 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.26 by $0.11. The business had revenue of $5.68 billion during the quarter. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities analysts anticipate that Bank of New York Mellon Corporation will post 9.37 EPS 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.