D L Carlson Investment Group Inc. Purchases New Holdings in Bank of New York Mellon Corporation $BNY

D L Carlson Investment Group Inc. purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 32,282 shares of the bank’s stock, valued at approximately $4,668,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Abound Financial LLC bought a new position in shares of Bank of New York Mellon in the fourth quarter valued at $25,000. MCF Advisors LLC raised its position in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after acquiring an additional 101 shares in the last quarter. Heritage Wealth Advisors bought a new stake in Bank of New York Mellon during the fourth quarter worth $31,000. Wilkerson Advisory Group LLC acquired a new stake in Bank of New York Mellon in the fourth quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at $32,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BNY. Royal Bank Of Canada boosted their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 16th. Wells Fargo & Company boosted their price target on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Zacks Research upgraded Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. Erste Group Bank assumed coverage on Bank of New York Mellon in a research report on Wednesday, July 15th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Insider Transactions at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is owned by company insiders.

Bank of New York Mellon Trading Down 1.3%

Shares of BNY stock opened at $157.61 on Friday. The firm has a 50 day moving average price of $153.55 and a two-hundred day moving average price of $136.46. 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 $106.94 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.13 and a beta of 1.06. Bank of New York Mellon Corporation has a 12-month low of $100.44 and a 12-month high of $165.68.

Bank of New York Mellon (NYSE:BNY) last posted its 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. The company 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 firm’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.93 earnings per share. As a group, analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Bank of New York Mellon Company 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.