Bank of New York Mellon Corporation $BNY Stake Lifted by Galvin Gaustad & Stein LLC

Key Points

• Galvin Gaustad & Stein LLC increased its BNY stake by 240.5% in the third quarter, acquiring 51,403 additional shares for a total holding valued at approximately $10.5 million. Institutional investors collectively own 85.31% of the company.
• BNY reported quarterly earnings of $2.46 per share, exceeding analysts’ $2.16 estimate, while revenue rose 13.3% year over year to $5.70 billion.
• Analyst sentiment remains positive but mixed: BNY has a “Moderate Buy” consensus rating and an average price target of $162.38, compared with shares opening at $143.68.

Galvin Gaustad & Stein LLC grew its position in Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 240.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,776 shares of the bank's stock after buying an additional 51,403 shares during the quarter. Galvin Gaustad & Stein LLC's holdings in Bank of New York Mellon were worth $10,526,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Bank of New York Mellon by 79.5% in the third quarter. Farther Finance Advisors LLC now owns 87,740 shares of the bank's stock valued at $12,690,000 after purchasing an additional 38,863 shares during the last quarter. Sapient Capital LLC boosted its position in shares of Bank of New York Mellon by 1,468.6% in the 3rd quarter. Sapient Capital LLC now owns 81,569 shares of the bank's stock worth $11,797,000 after purchasing an additional 76,369 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in Bank of New York Mellon by 8.4% in the third quarter. CoreCap Advisors LLC now owns 25,803 shares of the bank's stock worth $4,014,000 after acquiring an additional 1,997 shares in the last quarter. Atwood & Palmer Inc. boosted its stake in Bank of New York Mellon by 2,136.4% in the 3rd quarter. Atwood & Palmer Inc. now owns 2,460 shares of the bank's stock worth $356,000 after purchasing an additional 2,350 shares in the last quarter. Finally, Artemis Investment Management LLP grew its position in Bank of New York Mellon by 0.7% during the 3rd quarter. Artemis Investment Management LLP now owns 900,732 shares of the bank's stock worth $130,273,000 after purchasing an additional 6,442 shares during the last quarter. Hedge funds and other institutional investors own 85.31% of the company's stock.

Bank of New York Mellon Stock Up 0.7%

Shares of BNY opened at $143.68 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.76. Bank of New York Mellon Corporation has a 52-week low of $103.11 and a 52-week high of $165.84. The stock has a fifty day simple moving average of $156.62 and a two-hundred day simple moving average of $145.51. The company has a market capitalization of $97.49 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY - Get Free Report) last issued its earnings results on Wednesday, July 15th. The bank reported $2.46 EPS for the quarter, topping analysts' consensus estimates of $2.16 by $0.30. The company had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.35 billion. Bank of New York Mellon had a net margin of 15.52% and a return on equity of 16.00%. Bank of New York Mellon's quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.93 earnings per share. As a group, equities analysts forecast that Bank of New York Mellon Corporation will post 9.28 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on BNY. Barclays raised their price target on shares of Bank of New York Mellon from $149.00 to $178.00 and gave the stock an "overweight" rating in a report on Thursday, July 16th. Truist Financial reduced their target price on Bank of New York Mellon from $178.00 to $172.00 and set a "buy" rating for the company in a research note on Friday, September 25th. Bank of America lifted their price target on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, July 20th. JPMorgan Chase & Co. boosted 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. Finally, Weiss Ratings cut Bank of New York Mellon from a "buy (a)" rating to a "buy (a-)" rating in a research note on Thursday, August 13th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Bank of New York Mellon currently has an average rating of "Moderate Buy" and an average target price of $162.38.

Insiders Place Their Bets

In related news, VP Jose Minaya sold 3,520 shares of the firm's stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $148.79, for a total transaction of $523,740.80. Following the completion of the sale, the vice president directly owned 176,824 shares of the company's stock, valued at approximately $26,309,642.96. This trade represents a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 shares were 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 sold 38,840 shares of company stock worth $6,033,502 in the last 90 days. Company insiders own 0.17% of the company's stock.

Trending Headlines about Bank of New York Mellon

Here are the key news stories impacting Bank of New York Mellon this week:

• Positive Sentiment: Wall Street expects BNY to deliver year-over-year earnings growth in its upcoming report, with Zacks highlighting factors that could support an earnings beat. This provides a near-term catalyst for the shares. BNY Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: BNY is expanding regulated cryptocurrency custody services across the European Union under the Markets in Crypto-Assets framework. The move could strengthen its position in a growing institutional digital-asset market, although revenue benefits may develop gradually. BNY Expands Regulated Crypto Custody Across the European Union Under MiCA
• Positive Sentiment: Barclays reaffirmed its Buy rating, while TD Cowen initiated coverage with a Hold rating and a $160 price target, implying meaningful upside from the cited reference price. The ratings suggest analysts continue to see value despite a more cautious stance from some firms. Barclays Reaffirms Their Buy Rating
• Neutral Sentiment: BNY sold 21.24 million shares of Indonesia’s Telkom Indonesia, a portfolio transaction that does not necessarily represent a change in the bank’s operating outlook. The Bank of New York Mellon Sells 21.24 Million TLKM Shares
• Neutral Sentiment: Market coverage focused on BNY’s trading level and market capitalization, offering limited new information for investors beyond confirming ongoing attention ahead of results. BNY Mellon Stock Trades at EUR 127.50
• Negative Sentiment: Citigroup lowered its expectations for BNY’s share price, and another analyst report trimmed fair value as targets were recalibrated. These actions may weigh on sentiment and cap near-term upside. Citigroup Has Lowered Expectations for BNY Stock Price
• Negative Sentiment: Analysts described BNY as potentially fairly valued even after raising third-quarter earnings estimates, suggesting that improved fundamentals may already be reflected in the stock. BNY Stock May Be Fairly Valued Following Higher Q3 Earnings Views

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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