Bank of New York Mellon Corporation $BNY Stock Acquired by Milestone Asset Management LLC

Milestone Asset Management LLC lifted its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 85.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,729 shares of the bank’s stock after purchasing an additional 4,954 shares during the period. Milestone Asset Management LLC’s holdings in Bank of New York Mellon were worth $1,552,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in Bank of New York Mellon during the 2nd quarter worth $8,321,111,000. Bank of America Corp DE bought a new position in Bank of New York Mellon in the 2nd quarter valued at $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $1,214,193,000. Wellington Management Group LLP acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $1,175,576,000. Finally, Amundi acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $985,533,000. Institutional investors own 85.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. JPMorgan Chase & Co. raised their price target on Bank of New York Mellon from $159.00 to $161.00 and gave the company an “overweight” rating in a report on Friday, October 2nd. Keefe, Bruyette & Woods raised their price target on Bank of New York Mellon from $166.00 to $177.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Barclays lifted their price objective on 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. Finally, Truist Financial dropped their price objective on Bank of New York Mellon from $178.00 to $172.00 and set a “buy” rating for the company in a report on Friday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average target price of $162.38.

Insiders Place Their Bets

In other news, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction on Monday, September 28th. The stock was 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 in the company, valued at $26,309,642.96. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 38,840 shares of company stock worth $6,033,502. 0.17% of the stock is currently owned by company insiders.

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 Trading Up 3.4%

Shares of NYSE BNY opened at $142.29 on Friday. Bank of New York Mellon Corporation has a fifty-two week low of $103.11 and a fifty-two week high of $165.84. The firm has a market capitalization of $96.54 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.07 and a beta of 1.06. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The company’s 50 day simple moving average is $154.99 and its 200 day simple moving average is $146.38.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.11. The firm had revenue of $5.68 billion during the quarter. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The firm’s revenue was up 11.7% on a year-over-year basis. On average, analysts predict that Bank of New York Mellon Corporation will post 9.28 EPS for the current year.

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.