Commerce Bank Invests $7.64 Million in Bank of New York Mellon Corporation $BNY

Commerce Bank purchased a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 52,805 shares of the bank’s stock, valued at approximately $7,636,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Focus Partners Advisor Solutions LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at approximately $1,128,000. CIBC Asset Management Inc increased its holdings in shares of Bank of New York Mellon by 53.8% during the fourth quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock worth $21,129,000 after buying an additional 63,627 shares in the last quarter. Todd Asset Management LLC increased its holdings in shares of Bank of New York Mellon by 37.5% during the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock worth $43,069,000 after buying an additional 101,142 shares in the last quarter. Prospera Financial Services Inc lifted its stake in shares of Bank of New York Mellon by 106.5% in the 4th quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock valued at $2,220,000 after acquiring an additional 9,865 shares during the last quarter. Finally, Bellars Harris Wealth Management LLC acquired a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $10,324,000. 85.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Bank of New York Mellon Price Performance

Shares of NYSE:BNY opened at $158.72 on Monday. The firm has a market capitalization of $107.69 billion, a PE ratio of 18.48, a P/E/G ratio of 1.12 and a beta of 1.06. 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 50-day moving average price of $153.85 and a two-hundred day moving average price of $136.72. Bank of New York Mellon Corporation has a twelve month low of $101.71 and a twelve month high of $165.68.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating analysts’ consensus estimates of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. Bank of New York Mellon’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.93 EPS. Equities analysts forecast that Bank of New York Mellon Corporation will post 9.26 EPS for the current year.

Analyst Ratings Changes

BNY has been the topic of a number of research reports. Bank of America boosted their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Argus lifted their price target on Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. boosted their price target 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. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

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.