Keybank National Association OH Sells 3,971 Shares of Bank of New York Mellon Corporation $BNY

Keybank National Association OH lowered its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 5.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 71,502 shares of the bank’s stock after selling 3,971 shares during the period. Keybank National Association OH’s holdings in Bank of New York Mellon were worth $10,341,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Kinsale Capital Group Inc. increased its position in shares of Bank of New York Mellon by 19.9% during the 3rd quarter. Kinsale Capital Group Inc. now owns 107,983 shares of the bank’s stock valued at $15,618,000 after purchasing an additional 17,921 shares during the last quarter. 71 West Capital Partners raised its holdings in Bank of New York Mellon by 1.0% during the 3rd quarter. 71 West Capital Partners now owns 6,863 shares of the bank’s stock valued at $993,000 after buying an additional 67 shares during the period. Pinion Investment Advisors LLC raised its holdings in Bank of New York Mellon by 2.3% during the 3rd quarter. Pinion Investment Advisors LLC now owns 3,667 shares of the bank’s stock valued at $530,000 after buying an additional 81 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Bank of New York Mellon during the 3rd quarter valued at $14,941,000. Finally, AlphaCore Capital LLC lifted its position in Bank of New York Mellon by 97.7% in the third quarter. AlphaCore Capital LLC now owns 11,766 shares of the bank’s stock worth $1,702,000 after buying an additional 5,815 shares during the last quarter. 85.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. TD Cowen initiated coverage on shares of Bank of New York Mellon in a research note on Thursday, October 8th. They set a “hold” rating and a $160.00 price objective for the company. Truist Financial cut 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 report on Friday, October 16th. JPMorgan Chase & Co. increased their target price on shares of Bank of New York Mellon from $161.00 to $166.50 and gave the company an “overweight” rating in a research note on Friday, October 30th. 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. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Bank of New York Mellon in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Bank of New York Mellon presently has an average rating of “Moderate Buy” and an average price target of $165.04.

Insiders Place Their Bets

In other Bank of New York Mellon news, CEO Robin Vince sold 40,620 shares of the company’s stock in a transaction on Monday, October 26th. The stock was sold at an average price of $147.81, for a total value of $6,004,042.20. Following the transaction, the chief executive officer owned 585,174 shares of the company’s stock, valued at $86,494,568.94. This represents a 6.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $147.81, for a total value of $520,291.20. Following the completion of the transaction, the vice president directly owned 173,304 shares in the company, valued at $25,616,064.24. This trade represents a 1.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 60,560 shares of company stock valued at $9,007,119. 0.17% of the stock is owned by company insiders.

Bank of New York Mellon Trading Up 0.0%

BNY opened at $152.76 on Friday. The stock has a market cap of $102.79 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.02 and a beta of 1.02. The stock’s 50 day moving average price is $149.48 and its 200-day moving average price is $140.59. Bank of New York Mellon Corporation has a one year low of $105.42 and a one year high of $165.84. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, topping the consensus estimate 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 revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts forecast that Bank of New York Mellon Corporation will post 9.39 EPS for the current year.

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.