Bank of New York Mellon Corporation $BNY Stock: HBW Advisory Services LLC Boosts Stake

HBW Advisory Services LLC grew its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 390.6% during the 3rd quarter, Holdings Channel reports. The firm owned 8,953 shares of the bank’s stock after buying an additional 7,128 shares during the period. HBW Advisory Services LLC’s holdings in Bank of New York Mellon were worth $1,295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BNY. Focus Partners Advisor Solutions LLC acquired a new position in Bank of New York Mellon during the second quarter worth $1,128,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Bank of New York Mellon in the second quarter valued at $13,234,000. Engineers Gate Manager LP acquired a new stake in Bank of New York Mellon in the second quarter valued at $1,264,000. Corient Private Wealth LP acquired a new stake in Bank of New York Mellon in the second quarter valued at $48,434,000. Finally, HB Wealth Management LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at $6,238,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon News Roundup

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.

Bank of New York Mellon Stock Up 3.4%

BNY opened at $142.29 on Friday. Bank of New York Mellon Corporation has a 1-year low of $103.11 and a 1-year high of $165.84. The stock’s fifty day simple moving average is $154.99 and its 200 day simple moving average is $146.38. 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 stock has a market cap of $96.54 billion, a PE ratio of 15.82, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.11. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The firm had revenue of $5.68 billion during the quarter. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. As a group, research analysts expect that Bank of New York Mellon Corporation will post 9.28 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Keefe, Bruyette & Woods raised their target price on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. Weiss Ratings downgraded shares of Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research note on Thursday, August 13th. TD Cowen assumed coverage on Bank of New York Mellon in a report on Thursday, October 8th. They set a “hold” rating and a $160.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” 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 given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $162.38.

Insider Activity

In related news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon 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 sale, the vice president owned 176,824 shares of the company’s stock, valued at approximately $26,309,642.96. The trade was a 1.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 SEC filing for this sale provides additional information. Insiders sold 38,840 shares of company stock worth $6,033,502 over the last three months. Insiders own 0.17% of the company’s stock.

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.