denkapparat Operations GmbH Acquires Shares of 6,608 Bank of New York Mellon Corporation $BNY

denkapparat Operations GmbH bought a new position in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, HoldingsChannel reports. The fund bought 6,608 shares of the bank’s stock, valued at approximately $956,000.

A number of other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Bank of New York Mellon during the 2nd quarter valued at $8,321,111,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Bank of New York Mellon by 18,044.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank’s stock worth $2,283,514,000 after purchasing an additional 19,561,793 shares in the last quarter. Bank of America Corp DE purchased a new position in shares of Bank of New York Mellon in the second quarter worth $2,499,438,000. Norges Bank purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth $1,398,624,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bank of New York Mellon during the second quarter valued at $1,214,193,000. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on BNY. Truist Financial increased their price objective on Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Barclays upped their target price 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 began coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating on the stock. Argus increased their price objective on shares of 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. Finally, Wells Fargo & Company raised their target price on shares of 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. Two equities 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $157.13.

Bank of New York Mellon Trading Up 1.3%

Shares of NYSE:BNY opened at $164.19 on Friday. The stock’s 50-day simple moving average is $157.03 and its two-hundred day simple moving average is $139.31. The stock has a market capitalization of $111.40 billion, a price-to-earnings ratio of 19.11, a PEG ratio of 1.22 and a beta of 1.05. Bank of New York Mellon Corporation has a 52-week low of $102.63 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.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS 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 analyst estimates of $5.35 billion. During the same quarter in the prior year, the firm earned $1.93 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. Analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Insider Buying and Selling

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 shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction on 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 $29,331,148.16. This represents a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

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.