What is Erste Group Bank's Estimate for BNY FY2027 Earnings?

Key Points

• Erste Group Bank raised its FY2027 EPS estimate for BNY to $10.32 from $10.20 and maintained a “Buy” rating. The estimate is above the company’s current full-year consensus EPS forecast of $9.26.
• BNY’s latest quarterly results exceeded expectations, with EPS of $2.46 versus the $2.16 consensus and revenue of $5.70 billion versus $5.35 billion. Revenue increased 13.3% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $157.13 price target, while institutional investors own 85.31% of the stock.

Bank of New York Mellon Corporation (NYSE:BNY - Free Report) - Investment analysts at Erste Group Bank boosted their FY2027 earnings estimates for shares of Bank of New York Mellon in a research note issued to investors on Thursday, August 27th. Erste Group Bank analyst H. Engel now anticipates that the bank will post earnings per share of $10.32 for the year, up from their previous forecast of $10.20. Erste Group Bank currently has a "Buy" rating on the stock. The consensus estimate for Bank of New York Mellon's current full-year earnings is $9.26 per share.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last released its earnings results on Wednesday, July 15th. The bank reported $2.46 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.30. 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 $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the firm earned $1.93 EPS. Bank of New York Mellon's revenue was up 13.3% compared to the same quarter last year.

BNY has been the topic of a number of other reports. Zacks Research raised shares of Bank of New York Mellon from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Royal Bank Of Canada lifted their price target on Bank of New York Mellon from $142.00 to $168.00 and gave the stock a "sector perform" rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. boosted their price target on Bank of New York Mellon from $149.00 to $159.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Citigroup increased their price objective on Bank of New York Mellon from $167.00 to $172.00 and gave the company a "neutral" rating in a report on Monday, July 20th. Finally, Wall Street Zen raised Bank of New York Mellon to a "hold" rating in a report on Saturday, May 23rd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $157.13.

Bank of New York Mellon Stock Performance

NYSE BNY opened at $162.50 on Monday. Bank of New York Mellon has a 12-month low of $102.63 and a 12-month high of $165.68. The company has a fifty day simple moving average of $155.73 and a two-hundred day simple moving average of $138.13. 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 stock has a market cap of $110.26 billion, a P/E ratio of 18.92, a P/E/G ratio of 1.15 and a beta of 1.06.

Institutional Investors Weigh In On Bank of New York Mellon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System purchased a new stake in shares of Bank of New York Mellon in the second quarter worth about $22,603,252,000. BlackRock Inc. purchased a new position in Bank of New York Mellon during the second quarter valued at approximately $8,321,111,000. Northwestern Mutual Wealth Management Co. raised its position in Bank of New York Mellon by 18,044.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 19,670,202 shares of the bank's stock valued at $2,283,514,000 after acquiring an additional 19,561,793 shares in the last quarter. Bank of America Corp DE acquired a new position in Bank of New York Mellon in the second quarter valued at approximately $2,499,438,000. Finally, Norges Bank acquired a new position in Bank of New York Mellon in the fourth quarter valued at approximately $1,398,624,000. 85.31% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Dermot Mcdonogh sold 31,800 shares of the firm's stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $155.26, for a total transaction of $4,937,268.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.17% of the stock is currently owned by company insiders.

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.

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