Bank of New York Mellon Corporation $BNY Stake Raised by Mystic Asset Management Inc.

Mystic Asset Management Inc. increased its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 599.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,798 shares of the bank’s stock after buying an additional 20,395 shares during the quarter. Mystic Asset Management Inc.’s holdings in Bank of New York Mellon were worth $3,442,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Bank of New York Mellon during the second quarter worth $8,321,111,000. Bank of America Corp DE bought a new stake in 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 acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $1,214,193,000. Wellington Management Group LLP acquired a new position in shares of Bank of New York Mellon in the 2nd quarter valued at $1,175,576,000. Finally, Amundi bought a new position in shares of Bank of New York Mellon during the 2nd quarter worth about $985,533,000. 85.31% of the stock is currently owned by institutional investors.

Bank of New York Mellon Price Performance

BNY stock traded up $4.70 during trading on Thursday, hitting $142.34. 3,166,311 shares of the stock traded hands, compared to its average volume of 3,693,587. The stock has a market cap of $96.58 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.10 and a beta of 1.06. Bank of New York Mellon Corporation has a one year low of $103.11 and a one year high of $165.84. 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 company has a 50 day simple moving average of $155.31 and a 200 day simple moving average of $146.19.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 earnings per share 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. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts expect that Bank of New York Mellon Corporation will post 9.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BNY. Royal Bank Of Canada upped their target price 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. Wells Fargo & Company upped their price objective on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” 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 report on Thursday, August 13th. JPMorgan Chase & Co. raised their target price 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. Finally, Zacks Research lowered Bank of New York Mellon from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 7th. One 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. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $162.38.

Insider Buying and Selling

In other Bank of New York Mellon news, CFO Dermot Mcdonogh sold 31,800 shares of the business’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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Jose Minaya sold 3,520 shares of the stock in a transaction 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 sale, the vice president owned 176,824 shares in the company, valued at $26,309,642.96. The trade was a 1.95% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 38,840 shares of company stock worth $6,033,502. 0.17% of the stock is owned by corporate insiders.

Trending Headlines about Bank of New York Mellon

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.

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.