Bank of New York Mellon Corporation $BNY Stock Position Increased by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC raised its stake in Bank of New York Mellon Corporation (NYSE:BNY) by 85.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 17,710 shares of the bank’s stock after purchasing an additional 8,138 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Bank of New York Mellon were worth $2,561,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in BNY. Abound Financial LLC acquired a new stake in shares of Bank of New York Mellon during the fourth quarter worth about $25,000. Luken Investment Analytics LLC acquired a new position in shares of Bank of New York Mellon during the second quarter worth $27,000. Burnham & Co LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at about $29,000. EFG International AG purchased a new position in Bank of New York Mellon in the second quarter valued at approximately $29,000. Finally, N.E.W. Advisory Services LLC purchased a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $32,000. 85.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BNY has been the topic of several research reports. Wells Fargo & Company raised their price objective on shares of Bank of New York Mellon from $152.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 16th. Bank of America raised their price target on Bank of New York Mellon from $165.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 20th. Keefe, Bruyette & Woods upped their target price on shares of Bank of New York Mellon from $166.00 to $177.00 and gave the stock an “outperform” rating in a research report on Thursday, July 16th. Erste Group Bank assumed coverage on Bank of New York Mellon in a report on Wednesday, July 15th. They issued a “buy” rating on the stock. Finally, Zacks Research cut shares of Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Bank of New York Mellon has a consensus rating of “Moderate Buy” and an average price target of $162.38.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $523,740.80. Following the sale, the vice president directly owned 176,824 shares of the company’s stock, valued at $26,309,642.96. The trade was a 1.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,840 shares of company stock valued at $6,033,502 in the last three months. 0.17% of the stock is currently owned by company insiders.

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 expanding regulated digital-asset custody services across the European Union under the Markets in Crypto-Assets (MiCA) framework. The move broadens its institutional crypto offering and could create additional fee revenue as European demand for compliant custody grows. BNY Expands Digital Asset Custody in Europe BNY Expands Regulated Crypto Custody Across the European Union Under MiCA
• Positive Sentiment: Wall Street expects earnings growth in BNY’s upcoming report, with Zacks highlighting conditions that could support an earnings beat. The outlook builds on the company’s latest quarter, when earnings and revenue exceeded estimates and revenue rose 13.3% year over year. BNY Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Barclays reaffirmed its Buy rating, indicating continued confidence in BNY’s earnings and business prospects. Barclays Reaffirms Their Buy Rating
• Neutral Sentiment: TD Cowen initiated coverage with a Hold rating and a $160 price target, implying analysts see moderate upside but not an immediate catalyst for a stronger bullish view. TD Cowen Initiates Coverage
• Neutral Sentiment: BNY sold 21.24 million shares of TLKM, apparently a portfolio transaction. The sale may affect holdings but does not indicate a change in BNY’s core operating outlook. BNY Sells 21.24 Million TLKM Shares
• Negative Sentiment: Recent reports describe analysts trimming fair-value estimates or recalibrating price targets, contributing to valuation concerns ahead of results. BNY’s stock also recently declined despite a fund adding shares, suggesting continued short-term selling pressure. BNY Stock Gets Fair Value Trim BNY Mellon Stock Falls as Fund Adds Shares

Bank of New York Mellon Stock Performance

Shares of NYSE:BNY opened at $143.68 on Friday. Bank of New York Mellon Corporation has a 12 month low of $103.11 and a 12 month high of $165.84. The business has a 50-day moving average of $156.62 and a two-hundred day moving average of $145.51. The firm has a market capitalization of $97.49 billion, a PE ratio of 16.73, a P/E/G ratio of 1.11 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.

Bank of New York Mellon (NYSE:BNY) last posted 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 business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.93 EPS. As a group, research analysts forecast 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.