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

Csenge Advisory Group purchased a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, Holdings Channel reports. The fund purchased 5,647 shares of the bank’s stock, valued at approximately $817,000.

Other institutional investors also recently added to or reduced their stakes in the company. Abound Financial LLC bought a new position in shares of Bank of New York Mellon during the 4th quarter valued at approximately $25,000. MCF Advisors LLC raised its holdings in shares of Bank of New York Mellon by 74.8% in the 4th quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after purchasing an additional 101 shares during the period. Heritage Wealth Advisors purchased a new position in Bank of New York Mellon in the fourth quarter valued at approximately $31,000. Wilkerson Advisory Group LLC purchased a new position in Bank of New York Mellon in the fourth quarter valued at approximately $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in Bank of New York Mellon during the second quarter valued at $32,000. Institutional investors own 85.31% of the company’s stock.

Insider Buying and Selling at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is owned by insiders.

Analyst Ratings Changes

BNY has been the subject of several recent research reports. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Bank of America upped their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Wells Fargo & Company raised their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Truist Financial upped their price objective 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. Finally, Argus upped their price objective on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Stock Performance

BNY stock opened at $159.88 on Thursday. The firm has a 50-day simple moving average of $153.24 and a two-hundred day simple moving average of $136.19. The firm has a market cap of $108.48 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 1.16 and a beta of 1.06. 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 one year low of $99.67 and a one year high of $165.68.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share 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 firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter last year, the firm earned $1.93 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS 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.