Soltis Investment Advisors LLC grew its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY – Free Report) by 113.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,658 shares of the bank’s stock after buying an additional 3,539 shares during the period. Soltis Investment Advisors LLC’s holdings in Bank of New York Mellon were worth $963,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in Bank of New York Mellon during the 2nd quarter valued at $8,321,111,000. Bank of America Corp DE bought a new position in shares of Bank of New York Mellon in the second quarter worth $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Bank of New York Mellon in the second quarter worth $1,214,193,000. Wellington Management Group LLP bought a new position in shares of Bank of New York Mellon in the second quarter worth $1,175,576,000. Finally, Amundi acquired a new position in shares of Bank of New York Mellon during the second quarter valued at $985,533,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.
Key Headlines Impacting Bank of New York Mellon
Here are the key news stories impacting Bank of New York Mellon this week:
- Positive Sentiment: JPMorgan raised its price target for BNY from $161.00 to $166.50 and maintained an “overweight” rating. The new target implies approximately 13.2% upside from the referenced share price, potentially supporting investor confidence.
- Positive Sentiment: BNY’s latest quarterly results exceeded expectations: earnings per share reached $2.37 versus the $2.26 consensus estimate, while revenue increased 11.7% year over year to $5.68 billion. Analysts expect approximately $9.39 in full-year EPS.
- Positive Sentiment: The company’s expanded collaboration with Ripple in digital-asset custody and tokenized trade finance could create longer-term growth opportunities in institutional custody and transaction services. BNY and Ripple collaboration article
- Neutral Sentiment: BNY trades below the broader analyst consensus target of $164.62, with one Strong Buy, seven Buy and six Hold ratings. However, valuation commentary suggests the shares are close to fair value after a substantial 268% run, limiting the potential for further multiple expansion. BNY valuation analysis
- Neutral Sentiment: Institutional ownership remains high at approximately 85%, and several funds recently increased their positions. This provides a supportive ownership backdrop, though it is not necessarily a new catalyst for the shares.
- Negative Sentiment: CEO Robin Vince sold shares in multiple transactions, including 9,380 shares valued at approximately $1.39 million; reports also cite combined sales of 50,000 shares worth about $7.39 million over October 26–27. Vice President Jose Minaya separately sold 3,520 shares worth approximately $520,000. Although these transactions may be routine or scheduled, the reduction in insider holdings could weigh on sentiment. BNY insider selling report
Bank of New York Mellon Price Performance
Shares of BNY opened at $147.02 on Friday. The company has a market capitalization of $99.75 billion, a price-to-earnings ratio of 16.25, a P/E/G ratio of 0.98 and a beta of 1.06. Bank of New York Mellon Corporation has a fifty-two week low of $105.42 and a fifty-two week high of $165.84. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The business’s 50-day moving average is $151.57 and its 200-day moving average is $139.28.
Bank of New York Mellon (NYSE:BNY – Get Free Report) last posted its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping the consensus estimate of $2.26 by $0.11. Bank of New York Mellon had a net margin of 16.32% and a return on equity of 16.57%. The business had revenue of $5.68 billion during the quarter. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities research analysts expect that Bank of New York Mellon Corporation will post 9.39 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CEO Robin A. Vince sold 9,380 shares of the business’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $147.82, for a total transaction of $1,386,551.60. Following the transaction, the chief executive officer directly owned 575,794 shares in the company, valued at $85,113,869.08. The trade was a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jose Minaya sold 3,520 shares of the stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $147.81, for a total value of $520,291.20. Following the sale, the vice president owned 173,304 shares of the company’s stock, valued at approximately $25,616,064.24. This represents a 1.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 60,560 shares of company stock valued at $9,007,119. Insiders own 0.17% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Bank of America lifted their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Royal Bank Of Canada increased their target price on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research report on Thursday, July 16th. Citigroup lowered their target price on shares of Bank of New York Mellon from $160.00 to $157.00 and set a “neutral” rating on the stock in a research note on Monday, October 19th. JPMorgan Chase & Co. raised their target price on shares of Bank of New York Mellon from $161.00 to $166.50 and gave the company an “overweight” rating in a research note on Friday. Finally, Barclays boosted their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, July 16th. One research 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 company’s stock. According to MarketBeat, Bank of New York Mellon currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.04.
Check Out Our Latest Analysis on BNY
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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