WoodTrust Financial Corp boosted its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 1,604.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 44,793 shares of the bank’s stock after buying an additional 42,165 shares during the quarter. WoodTrust Financial Corp’s holdings in Bank of New York Mellon were worth $6,478,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Cornerstone Financial Management LLC lifted its holdings in shares of Bank of New York Mellon by 11.4% in 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 last quarter. Eastern Bank grew its holdings in Bank of New York Mellon by 12.4% during the 3rd quarter. Eastern Bank now owns 1,043 shares of the bank’s stock valued at $151,000 after purchasing an additional 115 shares during the last quarter. Nicolet Advisory Services LLC raised its position in Bank of New York Mellon by 3.3% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,986 shares of the bank’s stock worth $481,000 after purchasing an additional 129 shares during the period. RKL Wealth Management LLC raised its position in Bank of New York Mellon by 2.1% in the 4th quarter. RKL Wealth Management LLC now owns 7,213 shares of the bank’s stock worth $837,000 after purchasing an additional 150 shares during the period. Finally, Rockland Trust Co. lifted its stake in Bank of New York Mellon by 7.6% in the third quarter. Rockland Trust Co. now owns 2,542 shares of the bank’s stock worth $368,000 after purchasing an additional 180 shares during the last quarter. 85.31% of the stock is currently owned by institutional investors.
Key Headlines Impacting Bank of New York Mellon
Here are the key news stories impacting Bank of New York Mellon this week:
- Positive Sentiment: BNY is expanding regulated digital-asset custody services across Europe under the European Union’s Markets in Crypto-Assets (MiCA) framework. The move strengthens its position in institutional cryptocurrency infrastructure and could create longer-term fee revenue opportunities. BNY Expands Digital Asset Custody in Europe
- Positive Sentiment: Wall Street expects year-over-year earnings growth in BNY’s upcoming report, and Zacks says the company has factors that could support an earnings beat. This follows the bank’s prior quarterly performance, when earnings and revenue exceeded consensus estimates. BNY Reports Next Week: Wall Street Expects Earnings Growth
- Positive Sentiment: Barclays reaffirmed its Buy rating, indicating continued confidence in BNY’s earnings outlook and valuation. Barclays Reaffirms Buy Rating
- Neutral Sentiment: TD Cowen initiated coverage with a Hold rating and a $160 price target. The target implies upside from recent levels, but the neutral rating suggests limited conviction that the shares will materially outperform in the near term.
- Neutral Sentiment: BNY’s reported sale of 21.24 million shares of Indonesia’s Telkom Indonesia (TLKM) appears to concern an investment holding rather than BNY’s own shares, making the direct effect on BNY’s valuation unclear. BNY Sells TLKM Shares
- Negative Sentiment: Some analysts have trimmed fair-value estimates or described BNY as fairly valued even after raising third-quarter earnings expectations, suggesting that favorable results may already be partly reflected in the stock. BNY Fair Value Trim
Insiders Place Their Bets
Wall Street Analyst Weigh In
A number of research analysts have recently commented on the company. Wells Fargo & Company upped 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 note on Thursday, July 16th. Erste Group Bank began coverage on Bank of New York Mellon in a report on Wednesday, July 15th. They set a “buy” rating for the company. TD Cowen started coverage on Bank of New York Mellon in a research report on Thursday. They issued a “hold” rating and a $160.00 price objective on the stock. Keefe, Bruyette & Woods increased their target price on 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. Finally, Bank of America lifted their target price 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $162.38.
Bank of New York Mellon Trading Down 0.2%
Shares of Bank of New York Mellon stock traded down $0.34 on Friday, hitting $143.27. 651,908 shares of the company traded hands, compared to its average volume of 3,670,117. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. The company has a market cap of $97.21 billion, a PE ratio of 16.68, a PEG ratio of 1.11 and a beta of 1.06. The stock’s 50 day moving average price is $156.62 and its 200-day moving average price is $145.51. Bank of New York Mellon Corporation has a 52 week low of $103.11 and a 52 week high of $165.84.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.30. The company had revenue of $5.70 billion for 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%.Bank of New York Mellon’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.93 earnings per share. Equities research analysts predict that Bank of New York Mellon Corporation will post 9.28 EPS for the current year.
Bank of New York Mellon Company 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.
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