Erste Group Bank Issues Positive Estimate for BNY Earnings

Bank of New York Mellon Corporation (NYSE:BNY) – Equities research analysts at Erste Group Bank boosted their FY2027 earnings estimates for shares of Bank of New York Mellon in a report issued on Thursday, August 27th. Erste Group Bank analyst H. Engel now anticipates that the bank will earn $10.32 per share for the year, up from their previous estimate of $10.20. Erste Group Bank has a “Buy” rating on the stock. The consensus estimate for Bank of New York Mellon’s current full-year earnings is $9.26 per share.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same period last year, the firm earned $1.93 earnings per share. The business’s quarterly revenue was up 13.3% on a year-over-year basis.

Other research analysts have also recently issued reports about the company. Royal Bank Of Canada boosted their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a report on Thursday, July 16th. Weiss Ratings lowered shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. 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 research note on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their price target on shares of Bank of New York Mellon from $149.00 to $159.00 and gave the company an “overweight” rating in a report on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Bank of New York Mellon to a “hold” rating in a report on Saturday, May 23rd. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $157.13.

Bank of New York Mellon Stock Performance

NYSE:BNY opened at $161.73 on Monday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon has a 12-month low of $102.63 and a 12-month high of $165.68. The stock has a 50-day moving average price of $156.03 and a 200 day moving average price of $138.38. The stock has a market capitalization of $109.73 billion, a P/E ratio of 18.83, a P/E/G ratio of 1.15 and a beta of 1.06.

Institutional Trading of Bank of New York Mellon

Large investors have recently made changes to their positions in the business. Abound Financial LLC purchased a new position in Bank of New York Mellon in the fourth quarter worth about $25,000. MCF Advisors LLC raised its position in Bank of New York Mellon by 74.8% during the fourth quarter. MCF Advisors LLC now owns 236 shares of the bank’s stock valued at $27,000 after purchasing an additional 101 shares during the period. Luken Investment Analytics LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $27,000. Burnham & Co LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $29,000. Finally, EFG International AG purchased a new position in shares of Bank of New York Mellon in the 2nd quarter worth approximately $29,000. 85.31% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the business’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total value of $4,937,268.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $162.64, for a total transaction of $572,492.80. Following the sale, the vice president directly owned 180,344 shares in the company, valued at approximately $29,331,148.16. The trade was a 1.91% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.17% of the company’s stock.

About Bank of New York Mellon

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.