Sound Income Strategies LLC Sells 15,143 Shares of Bank of New York Mellon Corporation $BNY

Sound Income Strategies LLC lessened its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 28.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,797 shares of the bank’s stock after selling 15,143 shares during the period. Sound Income Strategies LLC’s holdings in Bank of New York Mellon were worth $5,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Bank of New York Mellon in the second quarter valued at $8,321,111,000. Bank of America Corp DE acquired a new stake in Bank of New York Mellon during the 2nd quarter worth about $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at about $1,214,193,000. Wellington Management Group LLP purchased a new position in shares of Bank of New York Mellon during the 2nd quarter valued at about $1,175,576,000. Finally, Amundi acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $985,533,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Zacks Research downgraded Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. Barclays lifted their price target on 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. Royal Bank Of Canada upped their price objective on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 16th. Bank of America raised their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, Wells Fargo & Company raised their price objective 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. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.38.

Key Stories Impacting Bank of New York Mellon

Here are the key news stories impacting Bank of New York Mellon this week:

• Positive Sentiment: BNY is expected to report year-over-year earnings growth in its upcoming quarterly results. Zacks highlighted the company’s strong history of earnings surprises and favorable conditions for another potential beat. Can BNY Keep the Earnings Surprise Streak Alive?
• Positive Sentiment: The bank is expanding regulated digital-asset custody services across the European Union under the Markets in Crypto-Assets framework. The move strengthens BNY’s position in institutional crypto infrastructure and could create additional long-term fee opportunities. BNY Expands Digital Asset Custody in Europe
• Positive Sentiment: TD Cowen initiated coverage with a “hold” rating and a $160 price target, implying meaningful potential appreciation from the level cited in the report. While not a bullish rating, the target suggests the shares may be undervalued after their recent weakness.
• Neutral Sentiment: Analyst commentary covering BNY and other financial companies offered additional perspective but did not signal a clear change in the company’s outlook. Analysts Offer Insights on Financial Companies
• Neutral Sentiment: BNY reportedly sold 21.24 million shares of Indonesia’s Telkom Indonesia, a portfolio transaction whose direct effect on BNY’s earnings and stock valuation is unclear. BNY Sells TLKM Shares
• Negative Sentiment: Analysts have trimmed BNY’s fair value estimates, indicating some recalibration of valuation expectations and potentially contributing to pressure on the shares. BNY Stock Gets Fair Value Trim

Bank of New York Mellon Price Performance

Shares of BNY stock traded down $1.00 during mid-day trading on Friday, hitting $142.61. 2,884,097 shares of the stock were exchanged, compared to its average volume of 3,681,798. Bank of New York Mellon Corporation has a 52-week low of $103.11 and a 52-week high of $165.84. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The company has a market cap of $96.76 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06. The firm has a fifty day moving average of $156.34 and a 200 day moving average of $145.49.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.30. The firm had revenue of $5.70 billion during the quarter, compared to analyst estimates 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 for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.93 EPS. Research analysts anticipate that Bank of New York Mellon Corporation will post 9.28 earnings per share for the current year.

Insider Activity at Bank of New York Mellon

In other news, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was 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 of the company’s stock, valued at $26,309,642.96. This represents a 1.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred 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 disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 38,840 shares of company stock worth $6,033,502. 0.17% of the stock is owned by corporate insiders.

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.