Detalus Advisors LLC lifted its stake in Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 294.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,287 shares of the bank’s stock after purchasing an additional 5,440 shares during the period. Detalus Advisors LLC’s holdings in Bank of New York Mellon were worth $1,054,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Luken Investment Analytics LLC purchased a new stake in Bank of New York Mellon during the 2nd quarter worth about $27,000. Burnham & Co LLC acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $29,000. EFG International AG acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $29,000. N.E.W. Advisory Services LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $32,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $35,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.
Bank of New York Mellon Stock Performance
Shares of BNY stock opened at $142.29 on Friday. 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 firm has a fifty day moving average price of $154.99 and a 200 day moving average price of $146.38. The company has a market cap of $96.54 billion, a P/E ratio of 16.56, a PEG ratio of 1.07 and a beta of 1.06. Bank of New York Mellon Corporation has a 12 month low of $103.11 and a 12 month high of $165.84.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last posted its earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, beating the consensus estimate of $2.26 by $0.11. 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 $5.68 billion for the quarter. Bank of New York Mellon’s revenue was up 11.7% compared to the same quarter last year. Sell-side analysts predict that Bank of New York Mellon Corporation will post 9.28 earnings per share for the current fiscal year.
Insider Transactions at Bank of New York Mellon
In other news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $148.79, for a total value of $523,740.80. Following the sale, the vice president directly owned 176,824 shares in the company, valued at $26,309,642.96. This trade represents a 1.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 38,840 shares of company stock worth $6,033,502. Company insiders own 0.17% of the company’s stock.
Key Headlines Impacting Bank of New York Mellon
Here are the key news stories impacting Bank of New York Mellon this week:
- Positive Sentiment: Quarterly earnings exceeded expectations. BNY reported third-quarter EPS of $2.37 versus the $2.26 consensus estimate, while revenue reached $5.68 billion, an 11.7% year-over-year increase. Net income attributable to shareholders rose to approximately $1.61 billion from $1.34 billion a year earlier. BNY Q3 Earnings and Revenues Beat Estimates
- Positive Sentiment: Growth was broad-based. Higher fee revenue, net interest income and asset balances supported the results, while custody and administration assets reportedly climbed 10% to $63.4 trillion. Rising expenses were a partial offset. BNY Q3 Earnings Beat Estimates on Fee Income and NII Growth
- Positive Sentiment: BNY maintained its shareholder-return appeal. The board declared a quarterly common-stock dividend of $0.63 per share, payable November 9 to eligible shareholders, along with dividends on several preferred series. BNY Declares Dividends
- Positive Sentiment: Strategic and analyst support provided additional positives. BNY completed its first tokenized Treasury repo with Citadel Securities and was upgraded by at least one Seeking Alpha contributor; analysts elsewhere assigned a “Moderate Buy” view. BNY Completes First Tokenized Treasury Repo
- Neutral Sentiment: BNY’s CEO said current 10-year Treasury yield levels are not unprecedented, offering reassurance about the interest-rate environment but no clear near-term earnings catalyst. US 10-year Treasury Yield Levels Not Unprecedented
- Neutral Sentiment: Azerbaijan’s central bank discussed expanding cooperation with BNY, but the report provided no financial terms or measurable earnings impact. Azerbaijan’s CBA Discusses Expanding Cooperation with BNY Mellon
- Negative Sentiment: Although the earnings beat was substantial, the shares fell, suggesting investors may have been taking profits or looking for stronger forward guidance and expense control. The stock remains below its 50-day moving average, indicating continued technical pressure.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on BNY shares. Bank of America boosted their price objective 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. Wells Fargo & Company upped their target price on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 16th. Argus raised their target price on shares of Bank of New York Mellon from $153.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Erste Group Bank began coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a “buy” rating for the company. Finally, Royal Bank Of Canada lifted their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 16th. One equities research 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.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and an average price target of $162.38.
Check Out Our Latest Report on BNY
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.
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