Erste Group Bank Has Strong Estimate for BNY FY2027 Earnings

Bank of New York Mellon Corporation (NYSE:BNY) – Equities research analysts at Erste Group Bank raised their FY2027 EPS estimates for shares of Bank of New York Mellon in a report released on Thursday, August 27th. Erste Group Bank analyst H. Engel now expects that the bank will post earnings per share of $10.32 for the year, up from their prior 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.

A number of other equities research analysts have also commented on the company. Weiss Ratings lowered Bank of New York Mellon from a “buy (a)” rating to a “buy (a-)” rating in a research report on Thursday, August 13th. Barclays boosted their price objective on Bank of New York Mellon from $149.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Bank of America increased their target price on Bank of New York Mellon from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Royal Bank Of Canada lifted their price target on shares of Bank of New York Mellon from $142.00 to $168.00 and gave the company a “sector perform” rating in a research note on Thursday, July 16th. Finally, Zacks Research upgraded shares of Bank of New York Mellon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $157.13.

Bank of New York Mellon Price Performance

BNY opened at $160.27 on Monday. 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 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 $156.29 and a 200 day simple moving average of $138.65. The stock has a market cap of $108.74 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.21 and a beta of 1.06.

Bank of New York Mellon (NYSE:BNY) last released its quarterly earnings data 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 business had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm earned $1.93 EPS. Bank of New York Mellon’s quarterly revenue was up 13.3% compared to the same quarter last year.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Jose Minaya sold 3,520 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $162.64, for a total value of $572,492.80. Following the sale, the vice president owned 180,344 shares in the company, valued at approximately $29,331,148.16. The trade was a 1.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dermot Mcdonogh sold 31,800 shares of the company’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. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BNY. Focus Partners Advisor Solutions LLC bought a new position in shares of Bank of New York Mellon in the second quarter valued at $1,128,000. CIBC Asset Management Inc raised its position in Bank of New York Mellon by 53.8% during the fourth quarter. CIBC Asset Management Inc now owns 182,002 shares of the bank’s stock worth $21,129,000 after acquiring an additional 63,627 shares in the last quarter. Todd Asset Management LLC raised its position in Bank of New York Mellon by 37.5% during the fourth quarter. Todd Asset Management LLC now owns 370,998 shares of the bank’s stock worth $43,069,000 after acquiring an additional 101,142 shares in the last quarter. Prospera Financial Services Inc lifted its stake in Bank of New York Mellon by 106.5% in the fourth quarter. Prospera Financial Services Inc now owns 19,126 shares of the bank’s stock valued at $2,220,000 after acquiring an additional 9,865 shares during the last quarter. Finally, Bellars Harris Wealth Management LLC acquired a new stake in Bank of New York Mellon in the second quarter valued at $10,324,000. Institutional investors and hedge funds own 85.31% of the company’s stock.

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.