Bank of New York Mellon Corporation $BNY Stock Acquired by Krilogy Financial LLC

Krilogy Financial LLC lifted its holdings in Bank of New York Mellon Corporation (NYSE:BNY) by 201.8% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 14,398 shares of the bank’s stock after purchasing an additional 9,628 shares during the quarter. Krilogy Financial LLC’s holdings in Bank of New York Mellon were worth $2,082,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BNY. BlackRock Inc. bought a new stake in Bank of New York Mellon during the 2nd quarter worth about $8,321,111,000. Bank of America Corp DE acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $2,499,438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $1,214,193,000. Wellington Management Group LLP acquired a new stake in Bank of New York Mellon in the 2nd quarter valued at about $1,175,576,000. Finally, Amundi bought a new position in shares of Bank of New York Mellon in the second quarter worth about $985,533,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

Bank of New York Mellon Stock Up 3.4%

Shares of NYSE BNY opened at $142.29 on Friday. 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 Corporation has a 52-week low of $103.11 and a 52-week high of $165.84. The firm has a 50 day moving average price of $154.99 and a 200 day moving average price of $146.38. The stock has a market cap of $96.54 billion, a P/E ratio of 16.56, a P/E/G ratio of 1.07 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.11. Bank of New York Mellon had a return on equity of 16.00% and a net margin of 15.52%. The business had revenue of $5.68 billion during the quarter. Bank of New York Mellon’s revenue for the quarter was up 11.7% on a year-over-year basis. Analysts expect that Bank of New York Mellon Corporation will post 9.28 EPS for the current year.

Analysts Set New Price Targets

BNY has been the topic of a number of research reports. Argus upped their target price on shares of 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. Truist Financial decreased their price target on shares of Bank of New York Mellon from $178.00 to $172.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. Bank of America raised their price target on shares of 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. TD Cowen assumed coverage on shares of Bank of New York Mellon in a report on Thursday, October 8th. They issued a “hold” rating and a $160.00 price target for the company. Finally, Weiss Ratings downgraded Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. 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 stock. According to MarketBeat.com, Bank of New York Mellon has an average rating of “Moderate Buy” and a consensus target price of $162.38.

Key Headlines Impacting 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.

Insider Activity at Bank of New York Mellon

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the company’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $148.79, for a total value of $523,740.80. Following the transaction, the vice president directly owned 176,824 shares in the company, valued at $26,309,642.96. The trade was a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $4,937,268.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,840 shares of company stock worth $6,033,502 in the last ninety days. Insiders own 0.17% of the company’s stock.

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.