Bank of New York Mellon Corp (BNY)

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AI: Overvalued

Price checkAt $163.24, the shares look expensive despite unusually strong recent profit growth.

The August 14 closing price was $163.24. Using the supplied quarterly history, including an inferred $2.01 for 2025’s fourth quarter, earnings were about $8.58 per share over the latest year. The price therefore equals roughly 19 times annual earnings, or 17.4 times the $9.38 pace implied by 2026’s first half. It also equals 2.8 times June book value, meaning accounting net worth, of $58.82 per share. A 14–16 times range on the first-half pace suggests roughly $131–$150, supporting an Overvalued verdict.

Big pictureMuch revenue repeats, but market levels and interest rates still shape results.

Revenue climbed from $15.8 billion in 2020 to $20.1 billion in 2025, while net income rose from $3.6 billion to $5.5 billion. However, profit fell to $2.6 billion in 2022, showing cyclicality. Fees generated 72% of 2025 revenue, supporting durability, yet many fees rise with client asset values and activity. Second-quarter 2026 revenue grew 13%, including 11% fee growth and 20% growth in interest income. Reported operating cash flow swings sharply for banks because deposits and securities move, so earnings, capital and liquidity provide better durability tests.

Business strengthBNY pairs strong financial reserves with rising profits and fewer shares outstanding.

At June 30, highest-quality loss-absorbing capital was $21.6 billion, equal to 11.0% of risk-weighted assets. Its liquidity coverage ratio was 111%, above the 100% regulatory requirement. The 2025 securities portfolio was 96% highly rated, while 96% of financial-institution exposures met investment-grade standards. BNY repurchased $3.5 billion of shares during 2025 and another $2.1 billion in 2026’s first half. Outstanding shares fell from 887 million in 2020 to 679 million by June 2026, meaning buybacks created meaningful per-share growth rather than merely offsetting dilution.

What could change the storyLasting fast growth could justify the price, while weaker markets would challenge it.

The strongest bull case is that platform improvements and client wins sustain revenue growth while reinvesting securities at higher yields. Management raised 2026 revenue-growth expectations to 10%–11%, and earnings above $10 per share would make today’s price more defensible. The bear case is that buoyant markets and unusually strong interest income are flattering current results; lower asset values or client activity would reduce fees, while deposit-cost pressure could narrow interest earnings. At the new $2.52 annual dividend, the yield is only 1.5%, offering limited valuation support if earnings return near the recent $8.58 level.

$163.24 price considered

AI: News

Record quarter and raised outlookBNY beat expectations and doubled its growth outlook, strengthening confidence in its earnings momentum.

On July 15, 2026, BNY reported record quarterly revenue of $5.7 billion, up 13%, and earnings of $2.45 per share, up 27%. It raised expected 2026 revenue growth to 10%–11% from about 5%, versus the 7.8% analyst estimate Reuters cited. Shares closed 5.1% higher that day after Reuters observed a 3% late-morning gain. The timing is consistent with a favorable earnings reaction, although broader market moves prevent assigning the entire increase to the report.

Dividend increase plannedA larger dividend signaled capital strength, though its yield remains modest at today’s price.

On June 24, 2026, BNY announced plans to increase its quarterly common dividend by 19%, from $0.53 to $0.63 per share, subject to board approval. The Federal Reserve also kept BNY’s stress capital buffer at the 2.5% minimum through 2027, supporting continued dividends and repurchases. The proposed dividend equals $2.52 annually, only about 1.5% of the observed price. Shares closed 2.5% lower that day, but timing alone does not establish that the announcement caused the decline.

Revenue

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Free cash flow

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Financial statements

	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007
Revenue	$20.08B	$18.62B	$17.70B	$16.53B	$15.93B	$15.81B	$16.46B	$16.39B	$15.54B	—	$15.13B	$15.61B	$14.97B	$14.53B	$14.68B	$13.82B	$7.65B	$13.57B	—
Operating expenses	$13.05B	$12.70B	$13.29B	$13.01B	$11.51B	$11.00B	$10.90B	$11.21B	$10.96B	$10.52B	$10.80B	$12.18B	$11.31B	$11.33B	$11.11B	$10.17B	$9.53B	$11.52B	$8.09B
Net income	$5.55B	$4.53B	$3.30B	$2.56B	$3.76B	$3.62B	$4.44B	$4.27B	$4.09B	$3.55B	$3.16B	$2.57B	$2.10B	$2.44B	$2.52B	$2.52B	−$814.0M	$1.43B	$2.21B
Basic EPSper diluted share	$7.47	$5.84	$3.91	$2.89	$4.17	$3.84	$4.53	$4.06	$3.74	$3.16	$2.73	$2.17	$1.74	$2.03	$2.03	$2.06	-$1.16	$1.20	$2.19
Diluted EPSper diluted share	$7.40	$5.80	$3.89	$2.88	$4.14	$3.83	$4.51	$4.04	$3.72	$3.15	$2.71	$2.15	$1.73	$2.03	$2.03	$2.05	-$1.16	$1.20	$2.17

Review source filings at SEC.gov ↗

Insider buys & sells

Jul 1, 2024–Jun 30, 2026

Buys0$0.00 disclosed value

Sells (SEC code S)11$20.54M disclosed value

Transaction	Insider	Type	Shares	Price	Value	Owned after
Apr 17, 2026Form 4	Perez AlejandroSr. Executive Vice President	SellCommon Stock	12.5K	$137.01	$1.71M	62.6K
Apr 17, 2026Form 4	Kurimsky Kurtis R.Corporate Controller	SellCommon Stock	5.3K	$136.02	$719.5K	17.3K
Apr 17, 2026Form 4	McCarthy J KevinSEVP & General Counsel	SellCommon Stock	30.0K	$136.50	$4.09M	50.2K
Apr 17, 2026Form 4	Hobbs Shannon MarieSenior Executive VP	SellCommon Stock	297	$137.05	$40.7K	15.2K
Jul 22, 2025Form 4	McCarthy J KevinSEVP & General Counsel	SellCommon Stock	20.0K	$98.45	$1.97M	35.1K

Review ownership filings at SEC.gov ↗

Bank of New York Mellon Corp (BNY)

Financial charts

Financial statements

Insider buys & sells