Bank of New York Mellon Corporation $BNY Stake Increased by Wedmont Private Capital

Wedmont Private Capital increased its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 88.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,766 shares of the bank’s stock after acquiring an additional 7,880 shares during the period. Wedmont Private Capital’s holdings in Bank of New York Mellon were worth $2,425,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. WoodTrust Financial Corp increased its position in shares of Bank of New York Mellon by 1,604.5% during the 3rd quarter. WoodTrust Financial Corp now owns 44,793 shares of the bank’s stock valued at $6,478,000 after purchasing an additional 42,165 shares during the last quarter. Douglas Lane & Associates LLC raised its holdings in shares of Bank of New York Mellon by 132.3% during the 3rd quarter. Douglas Lane & Associates LLC now owns 5,109 shares of the bank’s stock valued at $739,000 after buying an additional 2,910 shares in the last quarter. Graves Light Lenhart Wealth Inc. lifted its position in Bank of New York Mellon by 69.9% in the 3rd quarter. Graves Light Lenhart Wealth Inc. now owns 2,661 shares of the bank’s stock worth $385,000 after buying an additional 1,095 shares during the last quarter. Breakwater Capital Group lifted its position in Bank of New York Mellon by 31.5% in the 3rd quarter. Breakwater Capital Group now owns 4,409 shares of the bank’s stock worth $700,000 after buying an additional 1,055 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC boosted its stake in Bank of New York Mellon by 85.0% in the third quarter. Legacy Wealth Asset Management LLC now owns 17,710 shares of the bank’s stock worth $2,561,000 after buying an additional 8,138 shares in the last quarter. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Price Performance

BNY opened at $142.61 on Friday. The stock’s 50 day simple moving average is $156.34 and its 200 day simple moving average is $145.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. Bank of New York Mellon Corporation has a 1 year low of $103.11 and a 1 year high of $165.84. The firm has a market cap of $96.76 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 1.12 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data 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 the consensus estimate of $5.35 billion. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.93 earnings per share. As a group, analysts predict that Bank of New York Mellon Corporation will post 9.28 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on BNY shares. Barclays increased their price target on shares of 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. Bank of America boosted 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 report on Monday, July 20th. Wells Fargo & Company increased their target price on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Truist Financial reduced their target price on shares of Bank of New York Mellon from $178.00 to $172.00 and set a “buy” rating on the stock in a report on Friday, September 25th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Bank of New York Mellon from $159.00 to $161.00 and gave the stock an “overweight” rating in a research report on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $162.38.

Insider Buying and Selling at Bank of New York Mellon

In related news, VP Jose Minaya sold 3,520 shares of Bank of New York Mellon stock in a transaction on Monday, September 28th. The shares were sold at an average price of $148.79, for a total value of $523,740.80. Following the transaction, the vice president directly owned 176,824 shares of the company’s stock, valued at $26,309,642.96. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the company’s stock in a transaction on 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. Over the last ninety days, insiders sold 38,840 shares of company stock worth $6,033,502. 0.17% of the stock is owned by insiders.

Bank of New York Mellon News Summary

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 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.