Round Rock Advisors LLC Makes New Investment in Bank of New York Mellon Corporation $BNY

Round Rock Advisors LLC bought a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, HoldingsChannel reports. The fund bought 8,442 shares of the bank’s stock, valued at approximately $1,221,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Nykredit A S bought a new stake in shares of Bank of New York Mellon during the 2nd quarter worth approximately $32,959,000. Thrive Wealth Management LLC bought a new position in Bank of New York Mellon in the second quarter valued at approximately $318,000. Hudson Portfolio Management LLC acquired a new position in Bank of New York Mellon during the second quarter valued at approximately $3,139,000. Tranquilli Financial Advisor LLC acquired a new position in Bank of New York Mellon during the second quarter valued at approximately $1,010,000. Finally, B. Metzler seel. Sohn & Co. AG bought a new stake in Bank of New York Mellon during the second quarter worth $22,882,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Bank of New York Mellon Trading Up 1.0%

BNY opened at $162.09 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon Corporation has a fifty-two week low of $102.63 and a fifty-two week high of $165.68. The company’s 50 day moving average price is $156.65 and its two-hundred day moving average price is $138.99. The firm has a market capitalization of $109.98 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 1.21 and a beta of 1.05.

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion for 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 quarter in the previous year, the business earned $1.93 earnings per share. As a group, research analysts predict that Bank of New York Mellon Corporation will post 9.26 earnings per share for the current year.

Insider Transactions at Bank of New York Mellon

In related news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred 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 document filed with the SEC, which can be accessed through this link. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total value of $572,492.80. Following the completion of the sale, the vice president owned 180,344 shares in the company, valued at $29,331,148.16. The trade was a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

BNY has been the topic of several recent analyst reports. Citigroup lifted their price target on Bank of New York Mellon from $167.00 to $172.00 and gave the company a “neutral” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. upped their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Erste Group Bank began coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a “buy” rating on the stock. Wells Fargo & Company lifted their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, July 16th. Finally, Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $157.13.

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.