Últimas noticias sobre Bank of New York Mellon (NYSE:BK) Bolsa

Bank of New York Mellon

BNY Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with $47.8 trillion in under custody or administration (as of Dec. 31, 2023), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investments. BNY Mellon's asset-management division manages about $2.0 trillion in assets.

ABNB

AMZN

DASH

SMCI

TSLA

Descubre cómo ciertas empresas lograron superar las expectativas en medio de un mercado incierto y una posible contracción económica.

Empresas estadounidenses que superan las previsiones pese al desplome del S&amp;P 500

The Bank of New York Mellon Corporation Common Stock

Bank of New York Mellon Corp

HSBC BANK 22/01/25 WNT

BROOKFIELD OFF PTY AAA N by Brookfield Office Properties Inc.

Brookfield Office Properties Inc

BNY Mellon Core Bond ETF

BANK OF AYUDHYA PCL NVDR by Bank of Ayudhya Public Co. Ltd.

Bank Of Ayudhya PCL

BANK ALADIN SYARIAH TBK by Bank Aladin Syariah TBK PT

PT Bank Aladin Syariah Tbk

BROOKFIELD CORP PFD A 30 by BROOKFIELD CORP.

Brookfield Corp

BANK OF AYUDHYA PCL ADR by Bank of Ayudhya Public Co. Ltd.

Pipestone Energy Corp

MAGNETIC NRTH ACQUISITION by Magnetic North Acquisition Corp.

Magnetic North Acquisition Corp

BlackRock Capital Investment Corp Com

GLOBAL X BLOCKCHAIN UCITS ETF

Global X Blockchain ETF

BNY Mellon ETF Trust BNY Mellon Concentrated International ETF

BANK CYPRUS HLDGS ORD by Bank Cyprus Hldgs Pub Ltd Co

Bank of Cyprus Holdings PLC

Brookdale Senior Living Inc. Common Stock

Brookdale Senior Living Inc

Brookdale Senior Living Inc. 7.00% Tangible Equity Units

BROOKDALE SENIOR LIVING ORD

Buckle Inc

BANK OF EAST ASIA LTD REG by Bank of East Asia Limited

Bank of East Asia Ltd

BANK OF EAST ASIA S/ADR by Bank of East Asia Limited

BROOKFIELD CP PF AA SR EE by Brookfield Office Properties Inc.

BNY Mellon Emerging Markets Equity ETF

BAKKEN ENERGY CORP by Bakken Energy Corp.

Bakken Energy Corp

BNY Mellon ETF Trust Sustainable Global Emerging Mkts ETF

BANCO ESPIRTO SNTO UN/ADR by Banco Espirto Santo E

Banco Espirito Santo SA

iShares MSCI BIC ETF

BANK OF COMMUNS CO CHINA by Bank of Communications Co. Ltd.

Bank of Communications Co Ltd

BROOKFIELD CP PREF A 40 by BROOKFIELD CORP.

BKF CAPITAL GROUP INC by BKF Capital Group, Inc.

BKF Capital Group Inc

Bakkafrost P/F

BANKFLORIDA BANCORP INC by BankFlorida Bancorp, Inc.

BankFlorida Bancorp Inc

BROOKFIELD CP PREF A 34 by BROOKFIELD CORP.

BROOKFIELD CP PREF A 51 by BROOKFIELD CORP.

BROOKFIELD RENWBLE A SR 3 by BROOKFIELD RENEWABLE PWR PFD EQUITY INC

Brookfield Renewable Power Preferred Equity Inc

BERKELEY GP HLD U/ADR NEW by Berkeley Group Holdings Plc.

Berkeley Group Holdings (The) PLC

BERKELEY GROUP HLDGS NEW by Berkeley Group Holdings Plc.

Berkeley Group Holdings (The) PLC ADR

Booktopia Group Ltd Ordinary Shares

BNY Mellon ETF Trust BNY Mellon Global Infrastructure Income ETF

BANKGUAM HOLDING CO by BankGuam Holding Company

BankGuam Holding Co

Black Hills Corp

Black Hawk Acquisition Corporation - Class A Ordinary Shares

Black Hawk Acquisition Corp

Black Hawk Acquisition Corporation - Rights

Black Hawk Acquisition Corporation - Units

BANK HAPOLAM BM ORD by Bank Hapoalim B.M.

Bank Hapoalim BM

BANK HAPOALIM B.M.ADR144A by Bank Hapoalim B.M.

BNY Mellon High Yield ETF

BANK HAPOALIM B.M. S/ADR by Bank Hapoalim B.M.

BNY Mellon International Equity ETF

Bankinter SA

Black Iron Inc

BNY Mellon ETF Trust Sustainable Intl Equity ETF

BNY Mellon Innovators ETF

BLACK KNIGHT ORD

BANK JINZHOU CO LTD U/ADR by Bank Jinzhou Co Ltd.

BANGKOK CHAIN HSPITAL PCL by Bangkok Chain Hospital Public Co., Ltd.

Bangkok Chain Hospital PLC

BANGKOK BANK UNSP/ADR by Bangkok Bank Public Co Ltd.

Bangkok Bank PCL

BANGKOK BK PUBLIC CO LTD by Bangkok Bank Public Co Ltd.

Bakkt Holdings, Inc. Class A Common Stock

Bakkt Holdings Inc

BAKKAVOR GROUP PLC by Bakkavor Group Plc.

Bakkavor Group PLC

BANGKOK EXPWY & METRO PUB by Bangkok Expwy & Metro Pub Co Ltd

Bangkok Expressway and Metro PCL

BNY Mellon US Large Cap Core Equity ETF

BLOCKMINT TECHNOLOGIES by Blockmint Technologies

Blockmint Technologies Inc

Invesco Senior Loan ETF

INVSC SENIOR LOAN ETF

BUKALAPAK.COM PT TBK by BUKALAPAK.COM PT TBK

PT Bukalapak.com Tbk

BERKELEY ENERGY LTD by Berkeley Energy Ltd.

Berkeley Energia Ltd

BANKMUSCAT (O G) GDR

BANK MUSCAT S A O G OMAN 144A S 144A

BNY Mellon US Mid Cap Core Equity ETF

Bekem Metals Inc

BARKER MINERALS LTD by Barker Minerals Ltd.

Barker Minerals Ltd

BLACKOUT MEDIA CORP by Blackout Media Corp.

Blackout Media Corp

BlackRock Investment Quality Municipal Trust Inc. (The)

Blackrock Investment Quality Municipal Trust, Inc.

Booking Holdings Inc

BOOKING HOLDINGS ORD

BROOKFIELD OFCE PR II AAA by Brookfield Office Properties Inc.

OAK RIDGE FINCL SVCS INC by Oak Ridge Financial Services, Inc.

Oak Ridge Financial Services Inc

BANK POLSKA KASA SA ORD by Bank Polska Kasa Opieki

Bank Polska Kasa Opieki SA

PT BUKALAPAK UNSP/ADR by BUKALAPAK.COM PT TBK

BANK OF QUEENSLAND LTD by Bank of Queensland Ltd.

Bank of Queensland Ltd

BANK OF QUEENSLAND UN/ADR by Bank of Queensland Ltd.

Baker Hughes Co

BUNKA SHUTTER CO ORD by Bunka Shutter Co.

Bunka Shutter Co Ltd

BANK IRELAND GRP EUR1 ORD by Bank Ireland Group PLC

Bank of Ireland Group PLC

Franklin Templeton, a multi-trillion dollar asset management firm, has filed for a new <a href="https://www.benzinga.com/money/best-spot-bitcoin-etfs">exchange-traded fund</a> (ETF) that would provide exposure to both Bitcoin and Ethereum.
According to an application with the U.S. Securities and Exchange Commission (SEC) on Wednesday, the firm <a href="https://www.sec.gov/files/rules/sro/cboebzx/2024/34-101233.pdf">aims</a> to offer investors a single product that tracks the performance of the two largest cryptocurrencies by market capitalization.
<h3 class="wp-block-heading">A New Index ETF On The Horizon</h3>
The Oct. 2 filing reveals Franklin Templeton&#8217;s intention to launch an index fund that encompasses both Bitcoin and Ethereum. An index fund typically tracks the performance of a collection of assets—such as stocks, bonds, or cryptocurrencies—enabling investors to gain exposure to these assets without directly owning them. 
In this case, the proposed ETF would specifically target Bitcoin and Ethereum, allowing investors to benefit from the movement of these leading cryptocurrencies.
If approved, the new Franklin Templeton Bitcoin and Ethereum Crypto Index ETF will be traded on the Chicago Board Options Exchange (BATS:<a class="ticker" href="https://www.benzinga.com/stock/CBOE#BATS">CBOE</a>).
Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), one of the largest custodians in the United States, is set to handle the fund&#8217;s cash and cash equivalents, while Coinbase (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>) will act as the custodian for the Bitcoin and Ethereum tokens within the fund.
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41163889/save-ross-ulbricht-how-donald-trump-got-interested-in-the-imprisoned-silk-road-founder">&#8216;Save Ross Ulbricht!&#8217; How Donald Trump Got Interested In The Imprisoned Silk Road Founder</a>
A notable aspect of this offering is that the fund will be sold in large increments, specifically in blocks of 50,000 shares. 
The product's Net Asset Value (NAV) will be used to determine the share price. Additionally, the index fund will be benchmarked against the CF Institutional Digital Asset Index, which tracks the market performance of both Bitcoin and Ethereum.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/ "><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/27091545/Benzinga-conference.gif" alt="Benzinga future of digital assets conference" class="wp-image-267246" /></a></figure>
<h3 class="wp-block-heading">Expanding Franklin Templeton&#8217;s Crypto Reach</h3>
This filing marks a potential expansion of Franklin Templeton's involvement in the cryptocurrency space. 
The asset manager already provides clients with exposure to spot Bitcoin and <a href="https://www.benzinga.com/money/what-is-ethereum-etf#:~:text=A%20Spot%20Ethereum%20ETF%20could,stable%20prices%20and%20reduced%20volatility.">Ethereum ETFs</a>, highlighting its ongoing interest in broadening its crypto-based offerings.
Interestingly, this ETF filing comes just hours after Franklin Templeton announced a collaboration with the Aptos Foundation to launch its on-chain U.S. Government Money Market Funds (FOBXX). 
This product gives investors access to FOBXX through the purchase of the BENJI (CRYPTO: BENJI) token, showcasing the firm's diversified approach to integrating blockchain technology into traditional finance products.
<h3 class="wp-block-heading">BNY Mellon&#8217;s Role In The ETF</h3>
Bank of New York Mellon is poised to play a significant role in this potential ETF, as the institution will receive its first ETF custody duties following a non-objection letter from the SEC.
This regulatory clearance allows BNY Mellon to hold digital assets, with an initial focus on Bitcoin and Ethereum ETFs. 
While this exemption was granted with certain conditions, SEC Chairman Gary Gensler has indicated that BNY Mellon could expand its digital asset custody services if it adheres to specific guidelines.
For those interested in the intersection of traditional finance and digital assets, Benzinga's <a href="https://www.benzinga.com/events/digital-assets/agenda/">Future of Digital Assets</a> event on November 19 will provide further insights and discussions with industry experts.
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41161014/trump-vs-harris-who-do-voters-trust-more-to-handle-crypto-policies">Trump Vs. Harris: Who Do Voters Trust More To Handle Crypto Policies?</a></li>
</ul>
Image: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

News

CBOE

COIN

Franklin Templeton Seeks SEC Approval For Dual Bitcoin, Ethereum Index ETF

Morgan Stanley analyst Betsy Graseck maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a Equal-Weight and raises the price target from $72 to $78.

Price Target

Analyst Ratings

Morgan Stanley Maintains Equal-Weight on Bank of New York Mellon, Raises Price Target to $78

Goldman Sachs analyst Alexander Blostein maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a Buy and raises the price target from $74 to $80.

Goldman Sachs Maintains Buy on Bank of New York Mellon, Raises Price Target to $80

Global financial services company The Bank of New York Mellon Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) secured an exception from the U.S. Securities and Exchange Commission&#8217;s (SEC) contentious SAB 121 rule, paving the way for its entry into the lucrative but largely untapped cryptocurrency custody market.
What Happened: The regulator did not raise any objections to BNY&#8217;s plan to safeguard cryptocurrency assets for its exchange-traded product clients, without reflecting these assets on the bank&#8217;s balance sheet, Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-09-24/bny-plans-to-custody-crypto-for-etfs-after-sec-review">reported</a> Tuesday.
This is a significant development considering the ongoing debate around the SEC&#8217;s SAB 121 rule, which mandates that companies holding customers' cryptocurrencies <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38880951/senate-votes-to-overturn-controversial-sec-crypto-rule-but-will-biden-veto-it">must record them on their balance sheets</a>. Banks have been critical of this rule, arguing that it hampers their ability to custody digital assets.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41017645/elon-musk-applauds-pro-bitcoin-el-salvador-president-nayib-bukele-for-un-address-we-do-not">Elon Musk Applauds Pro-Bitcoin El Salvador President Nayib Bukele For UN Address</a>
BNY clarified that the SEC&#8217;s non-objection is limited to its ETP use case and does not address the broader issue of SAB 121 restricting bank custody of digital assets. The bank intends to continue its engagement with the Office of the Chief Accountant (OCA) on additional use cases through the OCA&#8217;s &#8216;facts and circumstances&#8217; process.
Why It Matters: A TradFi giant, BNY holds more than $50 trillion in assets as of June 30. Its decision to step into the digital custodian market could be influenced by the successful launch of spot Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) exchange-traded funds (ETFs) earlier this year.
Currently, the market is lop-sided, with Coinbase being the primary custodian for most ETFs. Its hegemony was challenged somewhat after Anchorage Digital Bank <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/40835527/crypto-bank-anchorage-digital-challenges-coinbases-etf-custody-dominance">secured a role as custodian</a> for the&nbsp;ARK 21Shares Bitcoin ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKB#BATS">ARKB</a>).
This development comes amidst a broader debate around the SEC&#8217;s SAB 121 rule. Republican lawmakers from both the Senate and House <a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41007125/caitlin-long-says-progressives-are-actually-big-bank-corporatists-as-republican-lawmakers-">urged the SEC to retract this controversial accounting rule</a> for cryptocurrency assets.
It is the only cryptocurrency-related legislation to pass through the House and Senate, although it was vetoed by the White House in May.
Price Action: Shares of BNY closed 0.27% lower at $71.87 during Tuesday&#8217;s regular trading session, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/09/41008797/core-emerges-as-leading-bitcoin-sidechain-by-total-value-locked">Core Emerges As Leading Bitcoin Sidechain By Total Value Locked</a></li>
</ul>
Photo courtesy: Shutterstock

Markets

$BTC

$ETH

ARK 21Shares Bitcoin ETF ARK 21Shares Bitcoin ETF

ARKB

BNY Mellon Gets Exemption From SEC's Controversial Crypto Custody Rule: Will It Challenge Coinbase's Hegemony In Holding Assets For Bitcoin And Ethereum ETFs?

JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) intends to grow its corporate banking team across Asia next year to capitalize on increasing business prospects from intra-Asia trades, the innovation economy and payment services. This was stated by Oliver Brinkmann, Asia-Pacific co-head of global corporate banking at the company, in an interview with South China Morning Post.
<h2>Details About JPM&#39;s Strategic Expansion</h2>
Brinkmann said, &quot;We aim to add 10 percent headcount to the corporate banking team across Asia next year.&quot;
The increased headcount will be dispersed across the team&#39;s four divisions: large-cap, mid-cap, innovation economy and subsidiary banking.
In subsidiary banking, the majority of the new talent will be allocated to Southeast Asia and India, while in local corporate banking, additional headcount will be focusing on North Asia, Greater China, Japan, India and Australia, according to Brinkmann.
<h2>JPMorgan&#39;s Rationale Behind This Move</h2>
According to Kerwin Clayton, Asia-Pacific co-head of global corporate banking at JPMorgan, this move aims to enhance the company&#39;s client base by offering a comprehensive set of wholesale banking products and solutions to clients of all magnitudes.
Brinkmann further added, &quot;The velocity of investments has changed. There&#39;s also much more focus on building out a home-based, Asian business for many of the Asian corporates.&quot; Consequently, the bank is investing its resources via broader subsidiary banking and country-specific desks to tap into emerging growth economies such as Korea, Japan, India and China.
The innovation economy has been a key element in JPMorgan&#39;s strategy in the Asia region, which is home to more than 500 unicorns &mdash; start-ups with a valuation of more than $1 billion.
The contribution to the global banking industry by these fast-growing newer firms is meaningful and rising. Thus, establishing relationships with them at an early developmental stage is quite crucial, as per Clayton.
Further, JPM&#39;s corporate banking payment business is another growth driver, which is about to generate $20 billion in revenues globally for the bank, per Brinkmann. &quot;Large corporates in Asia-Pacific hold about US$8 trillion of cash equivalent, and we can offer secure payment ecosystems for global business operations&quot;, he stated.
JPMorgan is using its innovation hub in Singapore to enhance these services. The hub includes a global cybersecurity center and the blockchain platform Onyx to streamline payment processes.
<h2>JPM&#39;s Zacks Rank &amp; Price Performance</h2>
Year to date, shares of JPM have risen 24.3% compared with the industry&#39;s rise of 20.4%.&nbsp;
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/2d/78980.jpg?v=1986766226" />
Image Source: Zacks Investment Research
Currently, JPM carries a Zacks Rank #3 (Hold).
<h2>Restructuring Initiatives by Other Banks</h2>
Earlier this month, Columbia Banking System, Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/colb#NASDAQ">COLB</a>) subsidiary, Umpqua Bank, announced expansion across the Western region with new branches opening in Phoenix, Scottsdale and Mesa by the end of 2024.
Arizona has several fast-growing sectors, including semiconductors, leisure and hospitality alternative energy, healthcare, warehouse distribution centers and data centers. It also hosts a growing number of data centers, serving as a foundation for the emerging generative AI industry. This positions the region as an ideal location for COLB&#39;s long-term expansion strategy.
Similarly, The Bank of New York Mellon Corp. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>) announced its plans to launch Alts Bridge, an extensive data, software, and services solution. It will cater to rising demand from wealth intermediaries seeking simplified access to alternative and private market investment products via simplified end-to-end investment experience.
This BNY platform has been designed to integrate seamlessly into intermediaries&#39; existing desktops, starting with BNY Pershing X&#39;s Wove advisory platform and NetX360+, incorporating cutting-edge AI and analytics tools to mitigate manual processing and error rates.
It offers a powerful solution to investors, advisors and the home office by providing access to a curated, extensive suite of leading alternative and private asset managers worldwide.
<a href="https://www.zacks.com/stock/news/2340629/jpmorgan-to-increase-headcount-in-corporate-banking-across-asia?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2340629">To read this article on Zacks.com click here.</a>

Asia

Large Cap

Mid Cap

Offerings

Events

Trading Ideas

COLB

JPMorgan to Increase Headcount in Corporate Banking Across Asia

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page.</a>
<ul>
<li>Small Cap Consumer Research raised the price target for JAKKS Pacific, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAKK#NASDAQ">JAKK</a>) from $24 to $30. Small Cap Consumer Research analyst Eric Beder maintained a Buy rating. JAKKS Pacific shares fell 1% to close at $25.88 on Friday. <a href="https://www.benzinga.com/quote/JAKK/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>TD Cowen increased the price target for CAVA Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAVA#NYSE">CAVA</a>) from $115 to $130. TD Cowen analyst Andrew Charles maintained a Buy rating. CAVA shares gained 2.9% to close at $128.79 on Friday. <a href="https://www.benzinga.com/quote/cava/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Keybanc boosted CrowdStrike Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRWD#NASDAQ">CRWD</a>) price target from $300 to $345. Keybanc analyst Jackson Ader maintained an Overweight rating. CrowdStrike shares gained 8.1% to close at $299.85 on Friday. <a href="https://www.benzinga.com/quote/crwd/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Deutsche Bank raised The Bank of New York Mellon Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) price target from $66 to $80. Deutsche Bank analyst Brian Bedell upgraded the stock from Hold to Buy. Bank of New York Mellon shares gained 0.1% to close at $71.82 on Friday. <a href="https://www.benzinga.com/quote/bk/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Benchmark raised Sinclair, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBGI#NASDAQ">SBGI</a>) price target from $29 to $30. Benchmark analyst Daniel Kurnos maintained a Buy rating. Sinclair shares gained 4.3% to close at $14.67 on Friday. <a href="https://www.benzinga.com/quote/sbgi/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Piper Sandler boosted the price target for Wix.com Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WIX#NASDAQ">WIX</a>) from $184 to $200. Piper Sandler analyst Clarke Jeffries upgraded the stock from Neutral to Overweight. Wix.com fell 0.3% to close at $160.64 on Friday. <a href="https://www.benzinga.com/quote/wix/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Baird slashed Apellis Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) price target from $96 to $92. Baird analyst Colleen Kusy maintained an Outperform rating. Apellis Pharmaceuticals shares fell 11.5% to close at $32.51 on Friday. S<a href="https://www.benzinga.com/quote/apls/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>Deutsche Bank boosted the price target for PayPal Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) from $74 to $94. Deutsche Bank analyst Bryan Keane maintained a Buy rating. PayPal shares fell 1% to close at $76.76 on Friday. S<a href="https://www.benzinga.com/quote/pypl/analyst-ratings">ee how other analysts view this stock.</a></li>
<li>Baird increased Fiserv, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FI#NYSE">FI</a>) price target from $186 to $200. Baird analyst David Koning maintained an Outperform rating. Fiserv shares fell 0.7% to close at $177.61 on Friday.<a href="https://www.benzinga.com/quote/FI/analyst-ratings"> See how other analysts view this stock.</a></li>
<li>Loop Capital slashed FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) price target from $317 to $288. Loop Capital analyst Rick Paterson maintained a Hold rating. FedEx shares dipped 15.2% to close at $254.64 on Friday. <a href="https://www.benzinga.com/quote/FDX/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
Considering buying CRWD stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="513" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23081011/image-177-1024x513.png" alt="" class="wp-image-560927" style="width:635px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23081011/image-177-1024x513.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23081011/image-177-300x150.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23081011/image-177-768x385.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/23081011/image-177.png 1347w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Read Next: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/09/40962695/jim-cramer-viking-has-many-ships-coming-in">Jim Cramer: Viking Has &#8216;Many Ships Coming In&#8217;</a></li>
</ul>

Pre-Market Outlook

APLS

CAVA

CRWD

JAKK

PYPL

SBGI

CrowdStrike To Rally Over 15%? Here Are 10 Top Analyst Forecasts For Monday

Deutsche Bank analyst Brian Bedell upgrades Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) from Hold to Buy and raises the price target from $66 to $80.

Upgrades

Deutsche Bank Upgrades Bank of New York Mellon to Buy, Raises Price Target to $80

In the latest quarter, 11 analysts provided ratings for Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), showcasing a mix of bullish and bearish perspectives.
The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts have recently evaluated Bank of New York Mellon and provided 12-month price targets. The average target is $68.0, accompanied by a high estimate of $75.00 and a low estimate of $61.00. Surpassing the previous average price target of $63.82, the current average has increased by 6.55%.
<img src="https://www.benzinga.com/files/images/story/2024/1726776059_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The standing of Bank of New York Mellon among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Keith Horowitz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Neutral</td>
<td>$70.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$66.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$72.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$63.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$66.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$75.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Jason Goldberg</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$75.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$65.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Keith Horowitz</td>
<td>Citigroup</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Maintains</td>
<td>In-Line</td>
<td>$61.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$70.00</td>
<td>$60.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Bank of New York Mellon. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of Bank of New York Mellon compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Bank of New York Mellon's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
To gain a panoramic view of Bank of New York Mellon's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/BK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Bank of New York Mellon analyst ratings.</a>
<h2>All You Need to Know About Bank of New York Mellon</h2>
BNY Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with $47.8 trillion in under custody or administration (as of Dec. 31, 2023), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investments. BNY Mellon's asset-management division manages about $2.0 trillion in assets.
<h3>Bank of New York Mellon's Economic Impact: An Analysis</h3>
Market Capitalization: Surpassing industry standards, the company's market capitalization asserts its dominance in terms of size, suggesting a robust market position.
Revenue Growth: Bank of New York Mellon's revenue growth over a period of 3 months has been noteworthy. As of 30 June, 2024, the company achieved a revenue growth rate of approximately 2.2%. This indicates a substantial increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Financials sector.
Net Margin: Bank of New York Mellon's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of 25.35%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): Bank of New York Mellon's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 3.14%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Bank of New York Mellon's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 0.26%, the company may face hurdles in achieving optimal financial returns.
Debt Management: Bank of New York Mellon's debt-to-equity ratio is below the industry average. With a ratio of 0.86, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
<h2>How Are Analyst Ratings Determined?</h2>
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into Bank of New York Mellon Stock: Analyst Perspectives (11 Ratings)

Citigroup analyst Keith Horowitz maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a Neutral and raises the price target from $65 to $70.

Citigroup Maintains Neutral on Bank of New York Mellon, Raises Price Target to $70

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>PGR</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$255.00</td>
<td>$399.7K</td>
<td>1.6K</td>
<td>2.1K</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$21.00</td>
<td>$37.8K</td>
<td>4.1K</td>
<td>1.6K</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$200.00</td>
<td>$37.0K</td>
<td>2.3K</td>
<td>917</td>
</tr>
<tr>
<td>CRBG</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$26.00</td>
<td>$33.5K</td>
<td>619</td>
<td>767</td>
</tr>
<tr>
<td>IVZ</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>10/18/24</td>
<td>$15.00</td>
<td>$47.3K</td>
<td>727</td>
<td>412</td>
</tr>
<tr>
<td>BAC</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$45.00</td>
<td>$122.0K</td>
<td>1.1K</td>
<td>203</td>
</tr>
<tr>
<td>MA</td>
<td>PUT</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>12/20/24</td>
<td>$500.00</td>
<td>$50.4K</td>
<td>128</td>
<td>64</td>
</tr>
<tr>
<td>BK</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$75.00</td>
<td>$26.7K</td>
<td>45</td>
<td>60</td>
</tr>
<tr>
<td>BX</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$100.00</td>
<td>$242.5K</td>
<td>351</td>
<td>53</td>
</tr>
<tr>
<td>GS</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/18/26</td>
<td>$410.00</td>
<td>$34.1K</td>
<td>65</td>
<td>6</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For PGR (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>), we notice a call option trade that happens to be bullish, expiring in 8 day(s) on September 20, 2024. This event was a transfer of 1950 contract(s) at a $255.00 strike. The total cost received by the writing party (or parties) was $399.7K, with a price of $205.0 per contract. There were 1673 open contracts at this strike prior to today, and today 2110 contract(s) were bought and sold. 
• For HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we notice a call option sweep that happens to be bullish, expiring in 36 day(s) on October 18, 2024. This event was a transfer of 200 contract(s) at a $21.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $37.8K, with a price of $189.0 per contract. There were 4126 open contracts at this strike prior to today, and today 1655 contract(s) were bought and sold. 
• For COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we notice a call option trade that happens to be bullish, expiring in 99 day(s) on December 20, 2024. This event was a transfer of 28 contract(s) at a $200.00 strike. The total cost received by the writing party (or parties) was $37.0K, with a price of $1324.0 per contract. There were 2314 open contracts at this strike prior to today, and today 917 contract(s) were bought and sold. 
• Regarding CRBG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRBG#NYSE">CRBG</a>), we observe a put option sweep with bearish sentiment. It expires in 36 day(s) on October 18, 2024. Parties traded 479 contract(s) at a $26.00 strike. This particular put needed to be split into 31 different trades to become filled. The total cost received by the writing party (or parties) was $33.5K, with a price of $70.0 per contract. There were 619 open contracts at this strike prior to today, and today 767 contract(s) were bought and sold. 
• For IVZ (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IVZ#NYSE">IVZ</a>), we notice a call option sweep that happens to be neutral, expiring in 36 day(s) on October 18, 2024. This event was a transfer of 412 contract(s) at a $15.00 strike. This particular call needed to be split into 3 different trades to become filled. The total cost received by the writing party (or parties) was $47.3K, with a price of $115.0 per contract. There were 727 open contracts at this strike prior to today, and today 412 contract(s) were bought and sold. 
• Regarding BAC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>), we observe a put option trade with bullish sentiment. It expires in 127 day(s) on January 17, 2025. Parties traded 200 contract(s) at a $45.00 strike. The total cost received by the writing party (or parties) was $122.0K, with a price of $610.0 per contract. There were 1151 open contracts at this strike prior to today, and today 203 contract(s) were bought and sold. 
• For MA (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MA#NYSE">MA</a>), we notice a put option trade that happens to be neutral, expiring in 99 day(s) on December 20, 2024. This event was a transfer of 22 contract(s) at a $500.00 strike. The total cost received by the writing party (or parties) was $50.4K, with a price of $2291.0 per contract. There were 128 open contracts at this strike prior to today, and today 64 contract(s) were bought and sold. 
• Regarding BK (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), we observe a call option trade with neutral sentiment. It expires in 491 day(s) on January 16, 2026. Parties traded 50 contract(s) at a $75.00 strike. The total cost received by the writing party (or parties) was $26.7K, with a price of $535.0 per contract. There were 45 open contracts at this strike prior to today, and today 60 contract(s) were bought and sold. 
• For BX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BX#NYSE">BX</a>), we notice a call option trade that happens to be bullish, expiring in 281 day(s) on June 20, 2025. This event was a transfer of 50 contract(s) at a $100.00 strike. The total cost received by the writing party (or parties) was $242.5K, with a price of $4850.0 per contract. There were 351 open contracts at this strike prior to today, and today 53 contract(s) were bought and sold. 
• For GS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), we notice a call option trade that happens to be bearish, expiring in 827 day(s) on December 18, 2026. This event was a transfer of 3 contract(s) at a $410.00 strike. The total cost received by the writing party (or parties) was $34.1K, with a price of $11370.0 per contract. There were 65 open contracts at this strike prior to today, and today 6 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

CRBG

HOOD

10 Financials Stocks Whale Activity In Today's Session

Bank of New York Mellon's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) short percent of float has risen 23.08% since its last report. The company recently reported that it has 9.43 million shares sold short, which is 1.28% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.36 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Bank of New York Mellon Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1725563716_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Bank of New York Mellon has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Bank of New York Mellon's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Bank of New York Mellon's peer group average for short interest as a percentage of float is 3.39%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(BK) - Analyzing Bank of New York Mellon's Short Interest

The acquisition will enhance BNY's capabilities across the entire managed account ecosystem, including manufacturing, distribution and servicing
Archer's fully integrated, cloud-based platform provides asset and wealth managers with a multi-product and multi-channel solution
NEW YORK, Sept. 5, 2024 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), a global financial services company, today announced BNY has entered into a definitive agreement to acquire Archer Holdco, LLC ("Archer"), a leading technology-enabled service provider of managed account solutions to the asset and wealth management industry.
Archer provides asset and wealth managers with comprehensive middle- and back-office solutions to address the managed account needs of&nbsp;institutional, private wealth&nbsp;and retail investors. Through its fully integrated, cloud-based platform, Archer helps&nbsp;its clients to expand distribution, streamline operations, launch new investment products and deliver personalized outcomes to a broader market.

BNY Has Entered Into A Definitive Agreement To Acquire Archer Holdco, A Technology-Enabled Service Provider Of Managed Account Solutions To The Asset And Wealth Management Industry; Financial Terms Were Not Disclosed

Legal

U.S. CFTC Orders The Bank Of New York Mellon To Pay $5M For Swap Reporting And Supervision Failures And Violation Of Prior CFTC Order

It is a good idea to add State Street (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/stt#NYSE">STT</a>) stock to your portfolio now as it benefits from solid business servicing wins, strategic acquisitions, global reach and efforts to technologically upgrade operations. Its steady capital distribution activities are likely to continue enhancing shareholder value.
Analysts seem optimistic about the company&#39;s earnings growth prospects. Over the past 30 days, the Zacks Consensus Estimate for earnings has been revised marginally upward for 2024 and 2025. The stock currently carries a Zacks Rank #2 (Buy).
So far this year, shares of STT have rallied 3.8%, underperforming the industry&#39;s growth of 19.4%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3a/74856.jpg?v=829475817" />
Image Source: Zacks Investment Research
Here are a few factors that make State Street stock a solid investment option.
Revenue Strength: While the company&#39;s net interest revenues (NIR) declined over the past couple of years because of near-zero interest rates, the metric witnessed a three-year (ended 2023) CAGR of 7.8%. Though rising funding costs and shrinking non-interest-bearing deposit balance are expected to weigh on NIR, high interest rates for a longer period are likely to offer some support. We project NIR to be relatively stable in both 2024 and 2025. In 2026, the metric will grow 3.4% year over year.
Likewise, while the company&#39;s total fee revenues declined in 2022 and 2023, the same saw a four-year (2019-2023) CAGR of 1%. The company is well-positioned with respect to fundamental business activities, given its global exposure and a broad array of innovative products and services (including the launch of State Street Digital and State Street Alpha). These efforts, along with business servicing wins and an inorganic growth strategy, are expected to keep aiding fee income. We anticipate total fee revenues to grow 4.4% this year.
Our projections for total revenues suggest year-over-year growth of 5.6%, 1.8% and 3% for 2024, 2025 and 2026, respectively, and ensure the continuation of the upward trend.
Earnings Growth: State Street recorded earnings growth of 5% over the last three to five years. We project adjusted earnings to rise 4.6% this year. Further, in 2025 and 2026, the metric will grow at the rate of 8.3% and 15%, respectively.
Also, the company&#39;s long-term (three to five years) estimated EPS growth rate of 7.6% promises rewards for investors.
Business Restructuring Efforts: State Street has been expanding its scale inorganically and through business consolidation. In February, the company announced the completion of its acquisition of CF Global Trading, which will further expand outsourced trading capabilities. As part of the consolidation of its India-based operations, the company has assumed full ownership of its two joint ventures. These are part of the company&#39;s ongoing initiatives to optimize its global operations.
Impressive Capital Distributions: State Street&#39;s capital distribution plan is solid. Following the clearance of the 2024 stress test, State Street increased its quarterly dividend by 10% to 76 cents per share. This was the fourth consecutive annual hike in the dividend payout by 10%.
In January, the company authorized to repurchase shares worth up to $5 billion (with no expiration date), effective from the first quarter of 2024. As of Jun 30, 2024, almost $4.7 million worth of authorization remained available. Further, the company plans to return 80-90% of its earnings to shareholders this year. Driven by a strong capital position and earnings strength, STT is expected to sustain improved capital distributions in the future.
Strong Leverage: State Street&#39;s debt/equity ratio is 0.89 compared with the industry average of 1.09. This indicates that STT has a relatively lower debt burden compared with peers. Thus, the company will be more financially stable in adverse economic conditions.
Further, as of Dec 31, 2023, STT had a total debt worth $36 billion, while cash and dues from banks and interest-bearing deposits with banks were $102.8 billion. STT also maintains investment-grade ratings of A1/A/AA- on senior debt from Moody&#39;s Investors Service, Standard and Poor&#39;s and Fitch Ratings, respectively.
Stock Seems Undervalued: The State Street stock seems undervalued right now when compared with the broader industry. The company&#39;s price/book ratio of 1.09 is lower than the industry average of 1.26. Also, its price-earnings (P/E) (F1) ratio is 10.01, which is below the industry average of 12.05.
<h3>Other Stocks Worth a Look</h3>
A couple of other top-ranked major bank stocks are The Bank of New York Mellon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>) and JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>).
The Zacks Consensus Estimate for BK&#39;s current-year earnings has been revised almost 1% north over the past 30 days. The company&#39;s shares have rallied 25.6% so far this year. BK currently carries a Zacks Rank #2.
JPM also carries a Zacks Rank of 2 at present. Estimates for the company&#39;s 2024 earnings have been revised 1% upward over the past month. In the year-to-date period, JPMorgan&#39;s shares have rallied 26.2%.
<a href="https://www.zacks.com/stock/news/2324935/6-reasons-to-bet-on-state-street-stt-stock-right-away?cid=CS-BENZ-FT-analyst_blog|rank_focused-2324935">To read this article on Zacks.com click here.</a>

Earnings

Dividends

6 Reasons to Bet on State Street Stock Right Away

In the preceding three months, 10 analysts have released ratings for Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>), presenting a wide array of perspectives from bullish to bearish.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $67.8, a high estimate of $75.00, and a low estimate of $61.00. This upward trend is evident, with the current average reflecting a 6.44% increase from the previous average price target of $63.70.
<img src="https://www.benzinga.com/files/images/story/2024/1723748448_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
A clear picture of Bank of New York Mellon's perception among financial experts is painted with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$66.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$72.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Brian Bedell</td>
<td>Deutsche Bank</td>
<td>Raises</td>
<td>Hold</td>
<td>$63.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$66.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$75.00</td>
<td>$70.00</td>
</tr>
<tr>
<td>Jason Goldberg</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$75.00</td>
<td>$68.00</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$65.00</td>
<td>$63.00</td>
</tr>
<tr>
<td>Keith Horowitz</td>
<td>Citigroup</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$65.00</td>
<td>$65.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Maintains</td>
<td>In-Line</td>
<td>$61.00</td>
<td>$61.00</td>
</tr>
<tr>
<td>David Konrad</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$70.00</td>
<td>$60.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts adapt their recommendations to changing market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their response to recent developments related to Bank of New York Mellon. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Bank of New York Mellon compared to the broader market.</li>
<li>Price Targets: Gaining insights, analysts provide estimates for the future value of Bank of New York Mellon's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Bank of New York Mellon's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/BK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Bank of New York Mellon analyst ratings.</a>
<h2>About Bank of New York Mellon</h2>
BNY Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with $47.8 trillion in under custody or administration (as of Dec. 31, 2023), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investments. BNY Mellon's asset-management division manages about $2.0 trillion in assets.
<h3>Breaking Down Bank of New York Mellon's Financial Performance</h3>
Market Capitalization Analysis: With an elevated market capitalization, the company stands out above industry averages, showcasing substantial size and market acknowledgment.
Revenue Growth: Bank of New York Mellon displayed positive results in 3 months. As of 30 June, 2024, the company achieved a solid revenue growth rate of approximately 2.2%. This indicates a notable increase in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Financials sector.
Net Margin: Bank of New York Mellon's net margin lags behind industry averages, suggesting challenges in maintaining strong profitability. With a net margin of 25.35%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Bank of New York Mellon's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 3.14%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): Bank of New York Mellon's ROA falls below industry averages, indicating challenges in efficiently utilizing assets. With an ROA of 0.26%, the company may face hurdles in generating optimal returns from its assets.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.86.
<h2>Analyst Ratings: What Are They?</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Navigating 10 Analyst Ratings For Bank of New York Mellon

Deutsche Bank analyst Brian Bedell maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a Hold and raises the price target from $63 to $66.

Deutsche Bank Maintains Hold on Bank of New York Mellon, Raises Price Target to $66

Bank of New York Mellon's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) short percent of float has fallen 6.52% since its last report. The company recently reported that it has 6.36 million shares sold short, which is 0.86% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.58 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Bank of New York Mellon Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1723143612_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Bank of New York Mellon has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing Bank of New York Mellon's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Bank of New York Mellon's peer group average for short interest as a percentage of float is 3.49%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Peering Into Bank of New York Mellon's Recent Short Interest

Morgan Stanley analyst Betsy Graseck maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a Equal-Weight and raises the price target from $65 to $72.

Comments

Bank of New York Mellon

Noticias

Últimas noticias sobre Bank of New York Mellon (NYSE:BK) Bolsa

La gente también mira

Noticias

SOCIO/CONTRIBUIDOR

BENZINGA GLOBAL