Bank of New York Mellon Corporation $BNY Position Lifted by Milestone Asset Management LLC

Milestone Asset Management LLC raised its position in Bank of New York Mellon Corporation (NYSE:BNY) by 85.8% in the 3rd quarter, Holdings Channel reports. The firm owned 10,729 shares of the bank’s stock after buying 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.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Bank of New York Mellon during the second quarter worth $8,321,111,000. Bank of America Corp DE acquired a new position in shares of 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 bought 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 bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $1,175,576,000. Finally, Amundi bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at $985,533,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Bank of New York Mellon

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.

Insiders Place Their Bets

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 dated Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total value of $4,937,268.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $26,309,642.96. This trade represents a 1.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 38,840 shares of company stock valued at $6,033,502. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on BNY shares. Argus raised their price objective on Bank of New York Mellon from $153.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Royal Bank Of Canada boosted their target price on 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. Zacks Research downgraded Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Truist Financial lowered their price target 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. Finally, JPMorgan Chase & Co. raised their price target on 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 investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $162.38.

Bank of New York Mellon Stock Performance

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

Bank of New York Mellon (NYSE:BNY) last issued its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $5.68 billion during the quarter. Bank of New York Mellon’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, analysts forecast that Bank of New York Mellon Corporation will post 9.28 EPS for the current fiscal year.

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.