Toth Financial Advisory Corp Buys New Position in Bank of New York Mellon Corporation $BNY

Toth Financial Advisory Corp bought a new stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 24,457 shares of the bank’s stock, valued at approximately $3,537,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Cornerstone Financial Management LLC increased its position in Bank of New York Mellon by 11.4% during the second quarter. Cornerstone Financial Management LLC now owns 784 shares of the bank’s stock worth $113,000 after acquiring an additional 80 shares during the period. Eastern Bank boosted its holdings in Bank of New York Mellon by 12.4% in the 3rd quarter. Eastern Bank now owns 1,043 shares of the bank’s stock valued at $151,000 after purchasing an additional 115 shares during the period. Nicolet Advisory Services LLC grew its position in Bank of New York Mellon by 3.3% in the 4th quarter. Nicolet Advisory Services LLC now owns 3,986 shares of the bank’s stock worth $481,000 after purchasing an additional 129 shares during the last quarter. RKL Wealth Management LLC grew its position in Bank of New York Mellon by 2.1% in the 4th quarter. RKL Wealth Management LLC now owns 7,213 shares of the bank’s stock worth $837,000 after purchasing an additional 150 shares during the last quarter. Finally, Rockland Trust Co. increased its holdings in shares of Bank of New York Mellon by 7.6% during the 3rd quarter. Rockland Trust Co. now owns 2,542 shares of the bank’s stock worth $368,000 after purchasing an additional 180 shares during the period. Hedge funds and other institutional investors own 85.31% of the company’s stock.

Bank of New York Mellon News Summary

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

• Positive Sentiment: Wall Street expects BNY to deliver year-over-year earnings growth next week, and Zacks says the company has factors that could support an earnings beat. Strong results could reinforce the stock’s long-term momentum. BNY Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Barclays reaffirmed its “buy” rating, indicating continued confidence in BNY’s earnings outlook and valuation. Barclays Reaffirms Its Buy Rating
• Neutral Sentiment: TD Cowen initiated coverage with a “hold” rating and a $160 price target. The target implies meaningful upside from recent trading levels, but the neutral rating suggests the firm sees a balanced risk-reward profile.
• Neutral Sentiment: Options-market activity has drawn attention ahead of earnings, but the available report does not establish whether traders are positioning for a sustained rally or increased volatility. Options Market Activity in BNY
• Negative Sentiment: Analysts have trimmed fair-value estimates and price targets, with coverage citing recalibrated expectations and a view that the stock may already reflect higher third-quarter earnings forecasts. This reduces the potential for further near-term gains. BNY Stock Gets Fair Value Trim
• Negative Sentiment: The stock has declined ahead of results despite a fund adding shares, suggesting broader profit-taking or caution may be outweighing that buying activity. BNY Mellon Stock Falls as Fund Adds Shares

Insider Transactions at Bank of New York Mellon

In other news, CFO Dermot Mcdonogh sold 31,800 shares of the stock in a transaction that occurred 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the firm’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 value of $523,740.80. Following the transaction, the vice president owned 176,824 shares of the company’s stock, valued at $26,309,642.96. This trade represents a 1.95% decrease in their position. 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.

Analysts Set New Price Targets

BNY has been the subject of a number of research analyst reports. Bank of America upped their price objective on shares of Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Erste Group Bank began coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating on the stock. Truist Financial cut 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. TD Cowen began coverage on Bank of New York Mellon in a report on Thursday. They issued a “hold” rating and a $160.00 price target for the company. Finally, 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 report on Wednesday, July 22nd. One research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $162.38.

Bank of New York Mellon Price Performance

Shares of BNY stock traded down $0.10 during mid-day trading on Thursday, reaching $142.62. The company’s stock had a trading volume of 1,352,503 shares, compared to its average volume of 3,674,140. The firm’s 50-day moving average is $156.87 and its two-hundred day moving average is $145.31. The company has a market cap of $96.77 billion, a P/E ratio of 16.60, a PEG ratio of 1.12 and a beta of 1.06. Bank of New York Mellon Corporation has a 1-year low of $103.11 and a 1-year 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.

Bank of New York Mellon (NYSE:BNY) last issued its earnings results 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 business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. 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 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.93 EPS. On average, research analysts predict that Bank of New York Mellon Corporation will post 9.28 earnings per share for the current year.

Bank of New York Mellon Company 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.