Compass Financial Management LLC Takes $761,000 Position in Bank of New York Mellon Corporation $BNY

Compass Financial Management LLC acquired a new stake in Bank of New York Mellon Corporation (NYSE:BNY) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,998 shares of the bank’s stock, valued at approximately $761,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Linscomb Wealth Inc. increased its stake in Bank of New York Mellon by 2.5% during the fourth quarter. Linscomb Wealth Inc. now owns 3,240 shares of the bank’s stock worth $376,000 after purchasing an additional 80 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Bank of New York Mellon by 3.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,805 shares of the bank’s stock worth $326,000 after purchasing an additional 88 shares in the last quarter. Essex Financial Services Inc. boosted its stake in shares of Bank of New York Mellon by 0.5% in the fourth quarter. Essex Financial Services Inc. now owns 17,584 shares of the bank’s stock valued at $2,041,000 after purchasing an additional 89 shares during the period. Maia Wealth LLC boosted its stake in shares of Bank of New York Mellon by 3.0% in the fourth quarter. Maia Wealth LLC now owns 3,049 shares of the bank’s stock valued at $350,000 after purchasing an additional 90 shares during the period. Finally, Nemes Rush Group LLC grew its holdings in shares of Bank of New York Mellon by 12.8% in the fourth quarter. Nemes Rush Group LLC now owns 813 shares of the bank’s stock valued at $94,000 after purchasing an additional 92 shares in the last quarter. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BNY has been the topic of a number of research reports. Erste Group Bank initiated coverage on shares of Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Citigroup upped their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the stock a “neutral” rating in a research report on Monday, July 20th. JPMorgan Chase & Co. increased their price objective on Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.13.

Bank of New York Mellon Stock Up 0.1%

Shares of Bank of New York Mellon stock opened at $158.72 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a 52-week low of $101.71 and a 52-week high of $165.68. The company has a market capitalization of $107.69 billion, a P/E ratio of 18.48, a P/E/G ratio of 1.12 and a beta of 1.06. The company has a 50 day moving average of $153.85 and a 200 day moving average of $136.72.

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

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.17% of the company’s stock.

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.