Adirondack Trust Co. grew its stake in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 1,859.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,015 shares of the bank’s stock after buying an additional 7,606 shares during the quarter. Adirondack Trust Co.’s holdings in Bank of New York Mellon were worth $1,159,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. raised its position in Bank of New York Mellon by 0.8% during the third quarter. McGlone Suttner Wealth Management Inc. now owns 10,071 shares of the bank’s stock valued at $1,457,000 after acquiring an additional 77 shares in the last quarter. Cornerstone Financial Management LLC boosted its position in 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 purchasing an additional 80 shares in the last quarter. Riversedge Advisors LLC boosted its position in Bank of New York Mellon by 3.1% in the 3rd quarter. Riversedge Advisors LLC now owns 3,035 shares of the bank’s stock worth $439,000 after purchasing an additional 92 shares in the last quarter. Eastern Bank grew its stake in shares of Bank of New York Mellon by 12.4% during the 3rd quarter. Eastern Bank now owns 1,043 shares of the bank’s stock worth $151,000 after purchasing an additional 115 shares during the period. Finally, Rockland Trust Co. grew its stake in shares of Bank of New York Mellon by 7.6% during the 3rd 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 period. Hedge funds and other institutional investors own 85.31% of the company’s stock.
Wall Street Analyst Weigh In
BNY has been the subject of several recent research reports. Bank of America lifted their target price 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. TD Cowen began coverage on shares of Bank of New York Mellon in a report on Thursday, October 8th. They set a “hold” rating and a $160.00 price target on the stock. Barclays raised 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. Weiss Ratings cut 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, Zacks Research cut shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.38.
Trending Headlines about Bank of New York Mellon
Here are the key news stories impacting Bank of New York Mellon this week:
- Positive Sentiment: Tokenized Treasury repo milestone: BNY completed its first tokenized U.S. Treasury triparty repo workflow with Citadel Securities in minutes. The transaction highlights BNY’s ability to use distributed-ledger technology to improve the speed and efficiency of institutional financing markets. BNY Completes First Tokenized Treasury Repo with Citadel Securities in Minutes
- Positive Sentiment: Digital-asset expansion: BNY is expanding its digital-asset custody platform to selected institutional clients in the European Union, supporting its positioning as a provider of custody and servicing infrastructure for the growing institutional crypto market. BNY Expands Digital Asset Custody Platform to Select Institutional Clients in EU
- Positive Sentiment: Analyst support: Wall Street analysts now rate BNY “Moderate Buy,” while TD Cowen set a $160 price target. Erste Group also modestly raised its fiscal 2026 EPS estimate to $9.26 and maintained a Buy rating. BNY Stock Now Rated Moderate Buy TD Cowen Sets $160 Target
- Neutral Sentiment: Earnings ahead: Analysts expect third-quarter results to benefit from higher fee income, net interest income, asset growth and client activity. However, rising expenses could limit the earnings upside. BNY previously exceeded estimates with strong revenue and EPS growth, raising expectations for the next report. Growth in Fee Income and Higher NII Likely to Support BNY’s Q3 Earnings
- Negative Sentiment: Near-term uncertainty: Investors appear focused on the upcoming earnings test and the possibility that expense pressures or less favorable trading conditions could offset BNY’s fee-income and digital-growth initiatives.
Insider Activity
In related news, CFO Dermot Mcdonogh sold 31,800 shares of the company’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $148.79, for a total transaction of $523,740.80. Following the completion of the transaction, the vice president directly owned 176,824 shares in the company, valued at $26,309,642.96. This represents a 1.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 38,840 shares of company stock valued at $6,033,502. Insiders own 0.17% of the company’s stock.
Bank of New York Mellon Price Performance
BNY stock traded down $5.23 during mid-day trading on Wednesday, reaching $135.80. 3,373,683 shares of the company’s stock were exchanged, compared to its average volume of 3,673,889. 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 12-month low of $103.11 and a 12-month high of $165.84. The stock’s 50 day moving average is $155.74 and its 200 day moving average is $146.04. The company has a market cap of $92.14 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last announced its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.30. The business 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%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.93 earnings per share. On average, research analysts expect 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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