Bank of New York Mellon Corporation $BNY Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 4.4% in the third quarter, HoldingsChannel reports. The firm owned 146,210 shares of the bank’s stock after selling 6,668 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Bank of New York Mellon were worth $21,146,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Bank of New York Mellon in the 2nd quarter valued at about $8,321,111,000. Bank of America Corp DE acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter worth about $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Bank of New York Mellon during the second quarter worth about $1,214,193,000. Wellington Management Group LLP purchased a new stake in shares of Bank of New York Mellon during the second quarter worth about $1,175,576,000. Finally, Amundi purchased a new stake in shares of Bank of New York Mellon during the second quarter worth about $985,533,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Insider Activity

In other news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $148.79, for a total value of $523,740.80. Following the transaction, the vice president directly owned 176,824 shares of the company’s stock, valued at $26,309,642.96. The trade was a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,840 shares of company stock valued at $6,033,502 over the last 90 days. 0.17% of the stock is currently owned by insiders.

Bank of New York Mellon Trading Up 1.2%

BNY stock opened at $146.05 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.86. The company has a market cap of $99.09 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 1.04 and a beta of 1.06. The business has a fifty day simple moving average of $153.70 and a 200-day simple moving average of $147.07. Bank of New York Mellon Corporation has a 52 week low of $105.36 and a 52 week high of $165.84.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.11. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The firm had revenue of $5.68 billion for the quarter. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts expect that Bank of New York Mellon Corporation will post 9.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BNY. Truist Financial reduced their price objective on shares of Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, October 16th. Erste Group Bank started coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They set a “buy” rating on the stock. New Street Research set a $182.00 target price on shares of Bank of New York Mellon in a research note on Friday, October 16th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Bank of New York Mellon in a report on Friday, October 16th. Finally, Argus increased their price target on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $164.62.

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.