24,485 Bank of New York Mellon Corporation $BNY Shares Acquired by Titleist Asset Management LLC

Titleist Asset Management LLC grew its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 958.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,040 shares of the bank’s stock after buying an additional 24,485 shares during the quarter. Titleist Asset Management LLC’s holdings in Bank of New York Mellon were worth $3,911,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of BNY. Cornerstone Financial Management LLC boosted its position in Bank of New York Mellon by 11.4% during the 2nd quarter. Cornerstone Financial Management LLC now owns 784 shares of the bank’s stock worth $113,000 after acquiring an additional 80 shares during the period. Eastern Bank grew its position in Bank of New York Mellon by 12.4% in the third quarter. Eastern Bank now owns 1,043 shares of the bank’s stock worth $151,000 after acquiring an additional 115 shares in the last quarter. Nicolet Advisory Services LLC raised its holdings in shares of Bank of New York Mellon by 3.3% during the 4th quarter. Nicolet Advisory Services LLC now owns 3,986 shares of the bank’s stock valued at $481,000 after purchasing an additional 129 shares in the last quarter. RKL Wealth Management LLC boosted its holdings in Bank of New York Mellon by 2.1% in the fourth quarter. RKL Wealth Management LLC now owns 7,213 shares of the bank’s stock worth $837,000 after purchasing an additional 150 shares in the last quarter. Finally, Rockland Trust Co. increased its position in Bank of New York Mellon by 7.6% during the third quarter. Rockland Trust Co. now owns 2,542 shares of the bank’s stock worth $368,000 after buying an additional 180 shares during the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $148.79, for a total value of $523,740.80. Following the completion of the sale, the vice president owned 176,824 shares in the company, valued at approximately $26,309,642.96. This represents a 1.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,840 shares of company stock valued at $6,033,502 in the last three months. Company insiders own 0.17% of the company’s stock.

Bank of New York Mellon News Roundup

Here are the key news stories impacting Bank of New York Mellon this week:

• Positive Sentiment: Wall Street expects earnings growth in BNY’s upcoming report, and Zacks says the company has a favorable combination of factors that could support an earnings beat. This follows BNY’s recent history of exceeding quarterly EPS and revenue estimates, providing a near-term catalyst for the stock. BNY Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Barclays reaffirmed its “buy” rating, signaling continued confidence in BNY’s earnings outlook and valuation despite recent share-price weakness. Barclays Reaffirms Buy Rating
• Positive Sentiment: TD Cowen initiated coverage with a “hold” rating and a $160 price target, which is above the reference share price and suggests analysts see some recovery potential, although the neutral rating limits the strength of the bullish signal. TD Cowen Initiates Coverage
• Neutral Sentiment: BNY shares have been trading ahead of results, leaving the earnings release as the key event likely to determine whether investors view current valuation levels as justified. BNY Trades Ahead of Results
• Negative Sentiment: Some analysts have trimmed fair-value estimates or lowered price expectations, reflecting more cautious views on BNY’s valuation and limiting upside sentiment. Fair Value Trimmed Citigroup Lowers Price Expectations
• Negative Sentiment: Reports of recent share-price declines and pressure ahead of earnings indicate that some investors are reducing exposure or waiting for confirmation from the results. BNY Mellon Stock Falls

Bank of New York Mellon Stock Performance

Shares of NYSE:BNY traded up $0.33 on Thursday, hitting $143.05. 1,668,788 shares of the company were exchanged, compared to its average volume of 3,675,958. Bank of New York Mellon Corporation has a one year low of $103.11 and a one year high of $165.84. The firm has a market capitalization of $97.06 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.12 and a beta of 1.06. The company’s 50 day moving average price is $156.87 and its two-hundred day moving average price is $145.31. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.72 and a current ratio of 0.72.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.16 by $0.30. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%.The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the business earned $1.93 earnings per share. Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year. Research analysts expect that Bank of New York Mellon Corporation will post 9.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BNY. Citigroup decreased their price target on Bank of New York Mellon from $172.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday. Barclays lifted their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. boosted their price objective on shares of Bank of New York Mellon from $159.00 to $161.00 and gave the stock an “overweight” rating in a research note on Friday, October 2nd. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. Finally, Bank of America upped their price target on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.38.

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.