Bank of New York Mellon Corporation $BNY Stock Purchased by Summit Global Investments

Summit Global Investments increased its stake in shares of Bank of New York Mellon Corporation (NYSE:BNY) by 312.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 45,360 shares of the bank’s stock after purchasing an additional 34,374 shares during the period. Summit Global Investments’ holdings in Bank of New York Mellon were worth $6,560,000 as of its most recent filing with the Securities & Exchange Commission.

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

Key Stories Impacting Bank of New York Mellon

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

• Positive Sentiment: JPMorgan raised its price target for BNY from $161.00 to $166.50 and maintained an “overweight” rating. The new target implies approximately 13.2% upside from the referenced share price, potentially supporting investor confidence.
• Positive Sentiment: BNY’s latest quarterly results exceeded expectations: earnings per share reached $2.37 versus the $2.26 consensus estimate, while revenue increased 11.7% year over year to $5.68 billion. Analysts expect approximately $9.39 in full-year EPS.
• Positive Sentiment: The company’s expanded collaboration with Ripple in digital-asset custody and tokenized trade finance could create longer-term growth opportunities in institutional custody and transaction services. BNY and Ripple collaboration article
• Neutral Sentiment: BNY trades below the broader analyst consensus target of $164.62, with one Strong Buy, seven Buy and six Hold ratings. However, valuation commentary suggests the shares are close to fair value after a substantial 268% run, limiting the potential for further multiple expansion. BNY valuation analysis
• Neutral Sentiment: Institutional ownership remains high at approximately 85%, and several funds recently increased their positions. This provides a supportive ownership backdrop, though it is not necessarily a new catalyst for the shares.
• Negative Sentiment: CEO Robin Vince sold shares in multiple transactions, including 9,380 shares valued at approximately $1.39 million; reports also cite combined sales of 50,000 shares worth about $7.39 million over October 26–27. Vice President Jose Minaya separately sold 3,520 shares worth approximately $520,000. Although these transactions may be routine or scheduled, the reduction in insider holdings could weigh on sentiment. BNY insider selling report

Analysts Set New Price Targets

BNY has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Bank of New York Mellon from $152.00 to $162.00 and gave the company an “equal weight” rating in a report on Thursday, July 16th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Bank of New York Mellon in a research note on Friday, October 16th. Erste Group Bank initiated coverage on Bank of New York Mellon in a research note on Wednesday, July 15th. They set a “buy” rating for the company. Truist Financial reduced their price target on shares of Bank of New York Mellon from $172.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, October 16th. Finally, Weiss Ratings cut shares of 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 issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon presently has an average rating of “Moderate Buy” and a consensus target price of $165.04.

Bank of New York Mellon Trading Down 1.6%

Shares of BNY stock opened at $147.02 on Friday. Bank of New York Mellon Corporation has a 1 year low of $105.42 and a 1 year high of $165.84. The firm has a fifty day moving average price of $151.57 and a 200-day moving average price of $139.28. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $99.75 billion, a price-to-earnings ratio of 16.25, a PEG ratio of 0.98 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last posted its quarterly earnings data on Thursday, October 15th. The bank reported $2.37 EPS for the quarter, topping the consensus estimate of $2.26 by $0.11. Bank of New York Mellon had a return on equity of 16.57% and a net margin of 16.32%. The firm had revenue of $5.68 billion during the quarter. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, equities analysts predict that Bank of New York Mellon Corporation will post 9.39 earnings per share for the current year.

Insider Activity

In other news, CEO Robin A. Vince sold 9,380 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $147.82, for a total value of $1,386,551.60. Following the transaction, the chief executive officer owned 575,794 shares of the company’s stock, valued at $85,113,869.08. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jose Minaya sold 3,520 shares of the firm’s stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $147.81, for a total value of $520,291.20. Following the completion of the transaction, the vice president directly owned 173,304 shares in the company, valued at $25,616,064.24. This trade represents a 1.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,560 shares of company stock valued at $9,007,119 in the last three months. 0.17% of the stock is currently owned by corporate insiders.

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.