Bank of New York Mellon Corporation $BNY Stock Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its holdings in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 47.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,491 shares of the bank’s stock after buying an additional 32,238 shares during the period. State of Alaska Department of Revenue’s holdings in Bank of New York Mellon were worth $14,389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Abound Financial LLC acquired a new position in Bank of New York Mellon during the fourth quarter worth about $25,000. Luken Investment Analytics LLC purchased a new stake in Bank of New York Mellon in the 2nd quarter worth about $27,000. Burnham & Co LLC purchased a new stake in shares of Bank of New York Mellon in the second quarter worth approximately $29,000. EFG International AG purchased a new stake in shares of Bank of New York Mellon during the second quarter worth $29,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Bank of New York Mellon in the second quarter valued at about $32,000. Institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon Trading Up 3.0%

BNY stock traded up $4.19 during midday trading on Thursday, reaching $141.83. The stock had a trading volume of 2,996,273 shares, compared to its average volume of 3,693,008. 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 firm has a market cap of $96.23 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 1.10 and a beta of 1.06. The business has a fifty day simple moving average of $155.31 and a two-hundred day simple moving average of $146.19. Bank of New York Mellon Corporation has a twelve month low of $103.11 and a twelve month high of $165.84.

Bank of New York Mellon (NYSE:BNY) last announced its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $5.68 billion for the quarter. The business’s quarterly revenue 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 EPS for the current fiscal year.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president owned 176,824 shares of the company’s stock, valued at approximately $26,309,642.96. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s 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. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 38,840 shares of company stock valued at $6,033,502. Corporate insiders own 0.17% of the company’s stock.

More Bank of New York Mellon News

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

• Positive Sentiment: Third-quarter earnings beat expectations. BNY reported quarterly revenue of $5.68 billion, up 11.7% year over year, while earnings per share reached $2.37 versus the $2.26 consensus estimate. Net income applicable to common shareholders rose to approximately $1.61 billion from $1.34 billion a year earlier. BNY Q3 Earnings and Revenues Beat Estimates
• Positive Sentiment: Fee-based growth and scale supported the quarter. Fee revenue increased about 12%, net interest revenue remained solid, and custody and administration assets grew 10% to $63.4 trillion. These trends reinforce BNY’s asset-servicing franchise and helped drive the earnings beat. BNY Q3 Earnings Beat, Driven by Fee Revenue Growth, Solid NII
• Positive Sentiment: Analyst sentiment improved. A Seeking Alpha analysis called the recent AI-related sell-off excessive and upgraded the stock, while other coverage cited multiple consecutive earnings beats. This may encourage investors to view the recent weakness as a valuation opportunity. Bank of New York Mellon: AI-Driven Sell-Off Is Overdone
• Positive Sentiment: Shareholder returns remain supported. BNY declared a quarterly common dividend of $0.63 per share, payable November 9 to shareholders of record October 26. The company also announced dividends on several preferred-stock series. BNY Declares Dividends
• Neutral Sentiment: Interest-rate conditions remain a focus. BNY’s CEO said current 10-year Treasury yield levels are not unprecedented, suggesting the bank is operating in a manageable rate environment, though future yield movements could affect net interest revenue and market-sensitive businesses. US 10-year Treasury Yield Levels Not Unprecedented, BNY CEO Says
• Positive Sentiment: Digital-market infrastructure continues to expand. BNY completed a tokenized U.S. Treasury triparty repo workflow with Citadel Securities, highlighting potential long-term growth in collateral management and institutional digital-asset services.

Analysts Set New Price Targets

BNY has been the subject of several analyst reports. Barclays lifted their price objective on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Citigroup decreased their target price on Bank of New York Mellon from $172.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. Royal Bank Of Canada increased their price objective on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Weiss Ratings cut Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Finally, 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 report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $162.38.

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.