Focused Alpha LLC Purchases Shares of 5,318 Bank of New York Mellon Corporation $BNY

Focused Alpha LLC bought a new position in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,318 shares of the bank’s stock, valued at approximately $769,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Abound Financial LLC bought a new position in shares of Bank of New York Mellon during the fourth quarter valued at about $25,000. MCF Advisors LLC lifted its stake in Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after purchasing an additional 101 shares during the last quarter. Heritage Wealth Advisors bought a new position in shares of Bank of New York Mellon during the 4th quarter worth $31,000. Wilkerson Advisory Group LLC purchased a new position in shares of Bank of New York Mellon in the fourth quarter worth about $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Bank of New York Mellon in the 2nd quarter valued at approximately $32,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Barclays lifted their price target on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods upped their price objective on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Royal Bank Of Canada raised their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Finally, Erste Group Bank began coverage on shares of Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to 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 Price Performance

Shares of BNY opened at $164.42 on Tuesday. Bank of New York Mellon Corporation has a twelve month low of $99.67 and a twelve month high of $165.69. The firm has a 50 day moving average of $152.42 and a 200 day moving average of $135.60. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $111.56 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.93 earnings per share. As a group, equities research analysts anticipate that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current fiscal 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.