Mraz Amerine & Associates Inc. Makes New $2.85 Million Investment in Bank of New York Mellon Corporation $BNY

Mraz Amerine & Associates Inc. acquired a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, Holdings Channel reports. The firm acquired 19,700 shares of the bank’s stock, valued at approximately $2,849,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Focus Partners Advisor Solutions LLC purchased a new position in Bank of New York Mellon during the second quarter valued at approximately $1,128,000. Northwestern Mutual Wealth Management Co. acquired a new position in Bank of New York Mellon during the 2nd quarter valued at approximately $13,234,000. CIBC Asset Management Inc lifted its position in Bank of New York Mellon by 53.8% during the 4th quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock worth $21,129,000 after acquiring an additional 63,627 shares during the period. Todd Asset Management LLC boosted its position in Bank of New York Mellon by 37.5% in the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock valued at $43,069,000 after buying an additional 101,142 shares during the last quarter. Finally, Prospera Financial Services Inc increased its holdings in Bank of New York Mellon by 106.5% in the 4th quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock worth $2,220,000 after buying an additional 9,865 shares during the period. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Stock Down 1.2%

BNY stock traded down $1.93 during mid-day trading on Tuesday, reaching $162.91. The company had a trading volume of 2,406,021 shares, compared to its average volume of 3,649,098. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. Bank of New York Mellon Corporation has a fifty-two week low of $102.63 and a fifty-two week high of $165.84. The company has a market capitalization of $110.54 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 1.24 and a beta of 1.05. The firm has a fifty day simple moving average of $158.26 and a 200 day simple moving average of $140.28.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company 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 business earned $1.93 EPS. Bank of New York Mellon’s revenue for the quarter was up 13.3% on a year-over-year basis. Analysts forecast that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BNY. Argus boosted their price objective on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Truist Financial upped their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Finally, Keefe, Bruyette & Woods upped their price objective on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Two 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.13.

Insider Activity

In other Bank of New York Mellon 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 transaction of $4,937,268.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $162.64, for a total transaction of $572,492.80. Following the transaction, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.17% of the stock is currently owned by insiders.

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.