Farther Finance Advisors LLC Boosts Stake in Bank of New York Mellon Corporation $BNY

Key Points

• Farther Finance Advisors increased its BNY stake by 79.5% in the third quarter, bringing its holdings to 87,740 shares valued at approximately $12.69 million. Institutional investors collectively own 85.31% of the company.
• Analysts maintain a generally positive outlook, with BNY receiving a consensus “Moderate Buy” rating and an average price target of $162.38; recent targets range as high as $178.
• BNY recently beat quarterly earnings and revenue estimates, but insiders sold 38,840 shares worth about $6.03 million over the last quarter. The stock opened at $143.68, below its 50-day moving average of $156.62.

Farther Finance Advisors LLC increased its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY - Free Report) by 79.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,740 shares of the bank's stock after purchasing an additional 38,863 shares during the period. Farther Finance Advisors LLC's holdings in Bank of New York Mellon were worth $12,690,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Focus Partners Advisor Solutions LLC acquired a new position in Bank of New York Mellon in the 2nd quarter worth $1,128,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $13,234,000. Engineers Gate Manager LP acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $1,264,000. Corient Private Wealth LP acquired a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at about $48,434,000. Finally, HB Wealth Management LLC bought a new stake in shares of Bank of New York Mellon in the second quarter valued at about $6,238,000. Institutional investors own 85.31% of the company's stock.

Key Bank of New York Mellon News

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

Insider Buying and Selling

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 value of $4,937,268.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jose Minaya sold 3,520 shares of the business's stock in a transaction on Monday, September 28th. The stock was sold at an average price of $148.79, for a total transaction of $523,740.80. Following the transaction, the vice president owned 176,824 shares in the company, valued at approximately $26,309,642.96. The trade was a 1.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 38,840 shares of company stock worth $6,033,502. Company insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BNY shares. JPMorgan Chase & Co. upped their price objective 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. Keefe, Bruyette & Woods lifted their target price on Bank of New York Mellon from $166.00 to $177.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. Erste Group Bank began coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They issued a "buy" rating on the stock. Barclays upped their price target on Bank of New York Mellon from $149.00 to $178.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Finally, Royal Bank Of Canada raised their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 16th. One research 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. Based on data from MarketBeat.com, Bank of New York Mellon currently has a consensus rating of "Moderate Buy" and a consensus price target of $162.38.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $143.68 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.72 and a quick ratio of 0.72. The business has a 50-day moving average of $156.62 and a 200-day moving average of $145.51. The stock has a market capitalization of $97.49 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.11 and a beta of 1.06. Bank of New York Mellon Corporation has a fifty-two week low of $103.11 and a fifty-two week high of $165.84.

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

Bank of New York Mellon Company 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.

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