Trust Co. of Vermont Takes $1.76 Million Position in Bank of New York Mellon Corporation $BNY

Trust Co. of Vermont bought a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,207 shares of the bank’s stock, valued at approximately $1,765,000.

Other hedge funds also recently bought and sold shares of the company. Abound Financial LLC purchased a new stake in Bank of New York Mellon in the 4th quarter worth $25,000. N.E.W. Advisory Services LLC purchased a new position in shares of Bank of New York Mellon in the second quarter valued at about $32,000. MCF Advisors LLC boosted its stake in shares of Bank of New York Mellon by 74.8% in the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock worth $27,000 after acquiring an additional 101 shares during the period. Heritage Wealth Advisors bought a new position in shares of Bank of New York Mellon in the fourth quarter worth about $31,000. Finally, Wilkerson Advisory Group LLC purchased a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $31,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $163.80 on Wednesday. The stock has a 50 day moving average of $152.84 and a 200 day moving average of $135.92. Bank of New York Mellon Corporation has a 12 month low of $99.67 and a 12 month high of $165.68. The firm has a market cap of $111.14 billion, a PE ratio of 19.07, a PEG ratio of 1.16 and a beta of 1.06. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.30. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $1.93 EPS. On average, research analysts expect that Bank of New York Mellon Corporation will post 9.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BNY has been the topic of several recent analyst reports. Erste Group Bank assumed coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating on the stock. Wall Street Zen upgraded Bank of New York Mellon to a “hold” rating in a research note on Saturday, May 23rd. Truist Financial increased their price objective on shares of Bank of New York Mellon from $160.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods lifted 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 report on Thursday, July 16th. Finally, Bank of America boosted their target price on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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 company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.17% of the stock is currently owned by insiders.

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.