Bank of New York Mellon Corporation $BNY Position Boosted by Murphy Middleton Hinkle & Parker Inc.

Murphy Middleton Hinkle & Parker Inc. increased its position in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 231.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,958 shares of the bank’s stock after buying an additional 5,560 shares during the quarter. Murphy Middleton Hinkle & Parker Inc.’s holdings in Bank of New York Mellon were worth $1,151,000 as of its most recent filing with the SEC.

Other 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 valued at $8,321,111,000. Bank of America Corp DE purchased a new position in Bank of New York Mellon in the second 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 second quarter worth about $1,214,193,000. Wellington Management Group LLP acquired a new position in shares of Bank of New York Mellon in the second quarter worth about $1,175,576,000. Finally, Amundi acquired a new position in shares of Bank of New York Mellon in the second quarter worth about $985,533,000. 85.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bank of New York Mellon

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $26,309,642.96. This trade represents a 1.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dermot Mcdonogh sold 31,800 shares of the business’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 value of $4,937,268.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 38,840 shares of company stock valued at $6,033,502. 0.17% of the stock is owned by insiders.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $142.29 on Friday. The firm has a 50-day simple moving average of $154.99 and a 200-day simple moving average of $146.38. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $96.54 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.07 and a beta of 1.06. Bank of New York Mellon Corporation has a 52 week low of $103.11 and a 52 week high of $165.84.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings results on Thursday, October 15th. The bank reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.26 by $0.11. The firm had revenue of $5.68 billion for the quarter. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. The business’s revenue was up 11.7% compared to the same quarter last year. On average, equities analysts predict that Bank of New York Mellon Corporation will post 9.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Erste Group Bank started coverage on shares of Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating on the stock. JPMorgan Chase & Co. lifted their price target on Bank of New York Mellon from $159.00 to $161.00 and gave the company an “overweight” rating in a research note on Friday, October 2nd. TD Cowen assumed coverage on Bank of New York Mellon in a research note on Thursday, October 8th. They issued a “hold” rating and a $160.00 price target for the company. Bank of America upped their price target on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Monday, July 20th. Finally, Citigroup lowered their price target on Bank of New York Mellon from $172.00 to $160.00 and set a “neutral” rating on the stock in a research report on Monday, October 5th. 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 stock has an average rating of “Moderate Buy” and a consensus price target of $162.38.

Bank of New York Mellon News Summary

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.

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.