Hsbc Holdings PLC Makes New Investment in Bank of New York Mellon Corporation $BNY

Hsbc Holdings PLC acquired 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 13F filing with the Securities & Exchange Commission. The fund acquired 1,765,095 shares of the bank’s stock, valued at approximately $255,681,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Revolve Wealth Partners LLC bought a new position in Bank of New York Mellon during the 4th quarter worth $220,000. Sivia Capital Partners LLC lifted its holdings in shares of Bank of New York Mellon by 36.6% during the second quarter. Sivia Capital Partners LLC now owns 3,394 shares of the bank’s stock worth $309,000 after buying an additional 909 shares in the last quarter. Jump Financial LLC bought a new stake in shares of Bank of New York Mellon in the second quarter valued at about $2,482,000. Treasurer of the State of North Carolina grew its stake in shares of Bank of New York Mellon by 1.7% in the second quarter. Treasurer of the State of North Carolina now owns 334,388 shares of the bank’s stock valued at $30,466,000 after acquiring an additional 5,445 shares in the last quarter. Finally, Osterweis Capital Management Inc. grew its stake in shares of Bank of New York Mellon by 11,890.0% in the second quarter. Osterweis Capital Management Inc. now owns 1,199 shares of the bank’s stock valued at $109,000 after acquiring an additional 1,189 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Transactions at Bank of New York Mellon

In other news, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the sale, the vice president directly owned 180,344 shares in the company, valued at approximately $29,331,148.16. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred 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 SEC filing for this sale provides additional information. Insiders own 0.17% of the company’s stock.

Bank of New York Mellon Trading Up 0.1%

Shares of BNY opened at $165.05 on Monday. Bank of New York Mellon Corporation has a 52-week low of $102.63 and a 52-week high of $165.84. The business’s fifty day moving average is $157.46 and its 200-day moving average is $139.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72. The firm has a market cap of $111.99 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.24 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 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 analysts’ expectations of $5.35 billion. During the same quarter in the previous year, the firm earned $1.93 EPS. Bank of New York Mellon’s revenue was up 13.3% on a year-over-year basis. Equities analysts anticipate that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Argus raised their price target on shares of 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. JPMorgan Chase & Co. increased their target price on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Royal Bank Of Canada raised their target price on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Citigroup lifted their price target on shares of Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research report on Monday, July 20th. Finally, Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.13.

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.