Bank of New York Mellon Corporation $BNY Stock Position Increased by HF Advisory Group LLC

HF Advisory Group LLC increased its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 76.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,969 shares of the bank’s stock after purchasing an additional 3,876 shares during the period. HF Advisory Group LLC’s holdings in Bank of New York Mellon were worth $1,297,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Focus Partners Advisor Solutions LLC bought a new stake in shares of Bank of New York Mellon during the 2nd quarter valued at $1,128,000. Northwestern Mutual Wealth Management Co. bought a new position in Bank of New York Mellon in the 2nd quarter worth about $13,234,000. Engineers Gate Manager LP bought a new position in Bank of New York Mellon in the 2nd quarter worth about $1,264,000. Corient Private Wealth LP purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $48,434,000. Finally, HB Wealth Management LLC purchased a new position in Bank of New York Mellon during the 2nd quarter valued at about $6,238,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Key Headlines 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

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of Bank of New York Mellon stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jose Minaya sold 3,520 shares of the business’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 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have 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.

Analyst Upgrades and Downgrades

Several brokerages have commented on BNY. Citigroup cut their price target on shares of Bank of New York Mellon from $172.00 to $160.00 and set a “neutral” rating for the company in a report on Monday, October 5th. Barclays upped their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Royal Bank Of Canada increased 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 lifted their price objective on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Monday, July 20th. Finally, Argus boosted their target price on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $162.38.

Bank of New York Mellon Price Performance

Shares of Bank of New York Mellon stock opened at $142.61 on Friday. 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 firm has a market capitalization of $96.76 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 1.12 and a beta of 1.06. The business’s 50-day moving average price is $156.34 and its 200-day moving average price is $145.49. Bank of New York Mellon Corporation has a 12 month low of $103.11 and a 12 month high of $165.84.

Bank of New York Mellon (NYSE:BNY) last released its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.30. The company 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%. Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.93 EPS. Sell-side analysts forecast that Bank of New York Mellon Corporation will post 9.28 EPS for the current fiscal 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.