Latest news with #BNYMellon
Yahoo
5 hours ago
- Business
- Yahoo
Earnings Preview: What To Expect From The Bank of New York Mellon's Report
Headquartered in New York, The Bank of New York Mellon Corporation (BK) offers a broad suite of financial services, including asset and wealth management, asset servicing, issuer services, clearing, and treasury solutions for institutions, corporations, and high-net-worth clients. Valued at $64.4 billion by market cap, BNY Mellon holds the distinction of being the world's largest custodian bank and securities services provider. The company is scheduled to release its fiscal second-quarter earnings before the market opens on Tuesday, July 15. Ahead of the event, analysts expect BK to report a profit of $1.73 per share on a diluted basis, up 14.6% from $1.51 per share in the year-ago quarter. The company has consistently surpassed Wall Street's EPS estimates in its last four quarterly reports. Ditch Big Tech and Buy These 3 Popular Stocks in 2025 Instead Dear Nvidia Stock Fans, Watch This Event Today Closely Can Broadcom Stock Hit $400 in 2025? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! For the current year, analysts expect BK to report EPS of $6.79, up 12.6% from $6.03 in fiscal 2024. Looking further, its EPS is likely to improve 13.3% year over year to $7.69 in fiscal 2026. BNY Mellon stock has delivered a standout performance over the past 52 weeks, surging 53.5%, well ahead of the S&P 500's ($SPX) 12.1% gains. It also handily outpaced the S&P 500 Financials Sector SPDR (XLF), which rose 26.3% during the same period. On June 18, Bank of New York Mellon shares climbed over 2% following reports that U.S. regulators may ease a capital rule restricting banks' Treasury trading activity, fueling a broader rally in bank stocks. Analysts' consensus opinion on BK stock is reasonably bullish, with an overall 'Moderate Buy' rating. Out of 17 analysts covering the stock, eight advise a 'Strong Buy' rating, three suggest a 'Moderate Buy,' and six give a 'Hold.' BK's average analyst price target is $96.56, indicating a potential upside of 3.9% from the current levels. On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Times
19 hours ago
- Business
- Times
Revealed: Palestine Action's map of UK targets
Palestine Action has drawn up a new list of about 150 government buildings, military bases, financial institutions and insurance firms to target in attacks. The organisation, which is due to be proscribed as a terrorist group, has urged its followers to damage the sites by smashing windows and equipment, spraying blood-red paint and pouring concrete into water pipes. The 148 UK targets are included on a map the group uploaded to its website. Alongside each target is a reason for its inclusion. For example, the Foreign, Commonwealth and Development HQ in Westminster is there due to 'awarding unmanned aerial vehicle contracts'. The Ministry of Defence's Whitehall premises has also been designated a target due to the same reasoning. The map highlights pilot training schools at RAF Cranwell and RAF Barkston Heath, both in Lincolnshire, and RAF Valle in Anglesey, north Wales. Allianz, one of the world's largest insurance firms, has 11 UK locations on the list and has been featured due to the company 'investing in, and providing insurance for, Israel's biggest weapons producer'. BNY Mellon, one of the largest custodian banks, has six locations listed because it 'invests in excess of $12 million in Elbit Systems'. It is not clear how the list has been drawn up but many of the targets are supposedly connected to Elbit, the military technology company. Shannon airport, in County Clare, Republic of Ireland, is also featured, but no reason is given for its inclusion. The site includes a link to Palestine Action's 'underground manual', which states: 'It's time to pick your target. Head to our website to find a list of secondary and primary targets who enable and profit from the Israeli weapons industry in Britain. Making your job to pick one a slightly easier process 'Each is just as culpable as the other, and applying pressure to them is key to breaking the links which sustain Israel's arms trade. It might be simpler to pick a target based on your locality, making it easier to plan, conduct the recces and save some transport costs!' The guide includes various ways to attack sites, such as smashing windows and equipment with sledgehammers. Elbit has faced most of Palestine Action's wrath, its sites repeatedly targeted at a cost of millions of pounds to the company. Last year Palestine Action carried out almost daily protests at Elbit sites. One such incident in Bristol involved smashing through a factory fence with a prison van and damaging the building with sledgehammers. Two police officers and a security guard were injured. In March analysis by The Sunday Times found that since its foundation in July 2020, Palestine Action has claimed responsibility for 356 direct actions on British-based defence and engineering firms, banks, insurance companies, estate agents and property companies, accountancy firms, universities and local government buildings the group claimed have links to Israeli defence firms. The Times can also reveal the organisation's close links to the Islamic Human Rights Commission (IHRC), believed by British officials to have direct ties to Iran. Since the announcement about Palestine Action's proscription, the IHRC has repeatedly posted on social media its support. IHRC was criticised by William Shawcross's independent review of Prevent as an 'Islamist group ideologically aligned with the Iranian regime' that has a history of 'extremist links and terrorist sympathies'. Shawcross said senior figures had espoused support for violent jihad and 'advocated for the extraction and eradication of 'Zionists''. Furthermore, Palestine Action has ties to Cage, the Islamist group that once praised Jihadi John as a 'beautiful young man'. The two groups released a joint statement condemning the government's counterextremism definition in March 2024. During the trial of the 'Elbit Eight' in 2023, Palestine Action and Cage ran a joint campaign to encourage demonstrations outside the trial and for supporters to attend court hearings. Palestine Action has used IHRC annual Quds Day marches as a recruiting tool for the group and the group's co-founder Huda Ammori has spoken at IHRC rallies. When The Times approached the IHRC about whether it funded Palestine Action, it said: 'While we support the aims and objectives of Palestine Action — namely, opposition to the crimes of Israel — we have not provided them with any financial or material support.' Regarding Shawcross's description, it said: 'Shawcross's assertion that IHRC is 'ideologically aligned' with Iran is not evidence. It is opinion, and a deeply prejudiced one at that.' Palestine Action was approached for comment.
Yahoo
2 days ago
- Business
- Yahoo
3 Large-Cap Value Mutual Funds to Add to Your Portfolio
Major U.S. indexes, including the S&P 500, the tech-heavy Nasdaq, and the Dow Jones Industrial Average, have gained 3.6%, 3.4%, and 1%, respectively, so far this year. Market participants have adopted cautious optimism despite mixed economic data, persistent concerns about inflation, uncertainties over trade policies, geopolitical tensions, and the Federal Reserve's hawkish stance on interest rates. Investors are still concerned about the impact of President Trump's aggressive tariff policies. Federal Reserve Chairman Jerome Powell stated that the Fed is in no rush to cut interest rates and prefers to wait and see how Trump's tariffs affect the economy. Both the Consumer Price Index (CPI) and Producer Price Index (PPI) have increased by 0.1% for the month of May. On a year-on-year basis, the CPI rose by 2.4%, whereas the PPI advanced 2.6% inching toward the Fed's 2.0% inflation target. The ISM Manufacturing Index and Services Index dropped to 48.5% and 49.9% in May. Any reading below 50% indicates a contraction. The labor market added 139,000 jobs in May, down from 193,000 a year ago. The unemployment rate held steady at 4.2% whereas average hourly earnings rose 0.4%. Tensions flared up in the Middle East after Iran's parliament voted to close the Strait of Hormuz, a key route for about one-fifth of the world's oil and gas supply. This could further cause inflation to tick up and impact the global supply chain. Amid such volatile market conditions, risk-averse investors who seek returns subject to low risk may opt for large-cap value mutual funds, such as Putnam Large Cap Value Fund PEIYX, Tcw Relative Value Large Cap Fund TGDIX and BNY Mellon Dynamic Value Fund DRGVX as their major holdings to achieve their objective. While mutual funds investing in value stocks have the potential to deliver higher returns and exhibit lower volatility compared to growth and blend counterparts, large-cap funds usually provide a safer option than small-cap or mid-cap funds. Thus, investors may look for large-cap value funds to earn in a moderate-return, volatile environment. Value funds generally invest in stocks that tend to trade at a price lower than their fundamentals (i.e., earnings, book value, debt-equity) and pay out dividends. Value stocks are expected to outperform the growth ones across all asset classes when considered on a long-term investment horizon and are less susceptible to trending markets. Meanwhile, large-cap funds have exposure to large-cap stocks that are expected to provide a long-term performance history and assure more stability than what mid or small caps offer. Companies with a market capitalization of more than $10 billion are generally considered large caps. However, due to their significant international exposure, large-cap companies might be affected by a global downturn. We have thus selected three large-cap value mutual funds that boast a Zacks Mutual Fund Rank #1 (Strong Buy), have positive three-year and five-year annualized returns and minimum initial investments within $5000, and carry a low expense ratio of less than 1%. Notably, mutual funds, in general, reduce transaction costs and diversify portfolios without an array of commission charges mostly associated with stock purchases (read more: Mutual Funds: Advantages, Disadvantages, and How They Make Investors Money). Putnam Large Cap Value Fund invests primarily in common stocks of domestic companies that offer the potential for capital growth, current income, or both. PEIYX advisors choose to invest in stocks based on valuation, financial strength, growth potential, competitive position in its industry, projected future earnings, cash flows and dividends. Darren Jaroch has been the lead manager of PEIYX since Aug. 29, 2012. Most of the fund's exposure is in companies like Citigroup (3.4%), Walmart (3.1%) and Bank of America Corporation (2.8%) as of Jan. 31, 2025. PEIYX's three-year and five-year annualized returns are 12.1% and 16.3%, respectively. PEIYX has an annual expense ratio of 0.63%. To see how this fund performed compared in its category, and other 1 and 2 Ranked Mutual Funds, please click here. Tcw Relative Value Large Cap Fund invests most of its assets, along with borrowings, if any, inequity securities of large-capitalization companies. TGDIX advisors consider large-cap companies as those with market capitalization similar to the companies listed on the Russell 1000 Index at the time of purchase. Diane E. Jaffee has been the lead manager of TGDIX since Feb. 28, 1999. Most of the fund's exposure is in companies like International Business Machines (4.9%), JPMorgan Chase (4.4%) and Broadcom (3.5%) as of Jan. 31, 2025. TGDIX's three-year and five-year annualized returns are 11.8% and 17%, respectively. TGDIX has an annual expense ratio of 0.70%. BNY Mellon Dynamic Value Fund invests most of its assets, along with borrowings, if any, in stocks of companies that have value, sound business fundamentals and positive business momentum evaluated on extensive quantitative and fundamental research by the portfolio manager. DRGVX also invests a small portion of its net assets in foreign equity securities with similar economic features. Keith Howell Jr. has been the lead manager of DRGVX since Sept. 21, 2021. Most of the fund's exposure is in companies like Berkshire Hathaway (4.9%), JPMorgan Chase (3.6%) and Cisco Systems (3.5%) as of Feb. 28, 2025. DRGVX's three-year and five-year annualized returns are 11.6% and 19.1%, respectively. DRGVX has an annual expense ratio of 0.68%. Zacks' free Fund Newsletter will brief you on top news and analysis, as well as top-performing mutual funds, each week. Get it free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (DRGVX): Fund Analysis Report Get Your Free (TGDIX): Fund Analysis Report Get Your Free (PEIYX): Fund Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
4 days ago
- Business
- Yahoo
Editorial: A sale of Northern Trust would be a major blow to Chicago
Founded in 1889, Northern Trust is one of Chicago's most storied companies. Its colorful back story includes building a makeshift branch that handled the banking needs of vendors and attendees at the Columbian Exposition after the bank hired to do the job failed a week after the 1893 World's Fair opened. How many ordinary Chicagoans know that? Precious few, surely. Northern Trust is low profile by design. Chicago's largest locally headquartered bank, Northern Trust caters to wealthy households and families across the country, and thus is discrete about its business and clients as one might expect. Northern Trust also is one of Chicago's relatively few truly global companies, positioned as one of the world's handful of financial institutions that hold trillions of dollars in assets on behalf of large institutional investors and process their transactions. This quiet giant employs thousands in Chicago and has been a dedicated civic donor for generations. We provide this thumbnail description because a company that likes to be under the radar suddenly is in an unwelcome spotlight. The Wall Street Journal reported Sunday that Northern Trust CEO Michael O'Grady met last week with his counterpart at Bank of New York Mellon about a potential combination of the two entities. The news comes less than four months after the Deerfield-based parent of Walgreens agreed to be purchased by New York private-equity firm Sycamore Partners. Like Northern Trust, Walgreens has a Chicago history that goes back well over 100 years. The notion that Walgreens, a Chicago mainstay, could be swallowed by a New York investment firm with a name few in these parts recognized, would have seemed ludicrous even a few short years ago. But in these times of economic volatility — first, a pandemic, then rampant inflation and now the uncertainty tied to trade policy in Washington, D.C. — there are few certainties in the business world. Even so, Northern Trust's status as a pillar of Chicago's business community seemed a pretty safe bet until the weekend bombshell. How safe is that bet now? There's reason to worry. BNY Mellon's market value is more than two times Northern Trust's, making it possible for the larger New York-based firm to offer a premium for the Chicago bank's shares. According to the report, the discussions are so early that there's been no talk of how much BNY Mellon might bid. Northern Trust was quick to dampen speculation, with a spokesman asserting the bank 'is fully committed to remaining independent and continuing to deliver long-term value to our stakeholders, as we have for 135 years.' The statement didn't stop investors from doing just that — speculating. They bid Northern Trust shares up by 8% Monday to their highest level in more than three years. For Chicago's sake, let's hope Northern Trust's statement truly reflects the sentiments of O'Grady and the board. A relentless series of sales of locally based banks to out-of-town buyers over the past two decades has dramatically weakened the city's once-powerful banking sector. New York's JPMorgan Chase in 2004 acquired Bank One, the city's largest bank at the time. Charlotte, N.C.-based Bank of America followed suit in 2007, swallowing LaSalle Bank, the city's second largest lender. Several smaller local banks bulked up in the wake of those splashy deals, snatching commercial clients who wanted more personalized service than the giants could or would provide. Most of them subsequently sold to out-of-town buyers such as Cincinnati-based Fifth Third, Canadian lender CIBC and even a bank based in Evansville, Indiana, called Old National. The most recent hit came just last month: Virginia-based Capital One completed its long-planned buyout of credit card lender Discover Financial Services, based in north suburban Riverwoods. We'll see what the future local job losses are from that deal, but surely they will be significant. Discover employs thousands in the Chicago area. Even without the negative effect of mergers, Chicago is losing well-paying, white-collar jobs provided by the likes of Discover and Northern Trust. Illinois has seen a steady decline in financial services employment since 2019, and most of those jobs are in the Chicago area. That trend means fewer residents making upper-middle-class salaries (or higher), which reduce overall consumer purchasing power and hold back the local economy. In short, our economy (and tax base) badly needs those sorts of workers. A buyout of Northern Trust also would damage Chicago's already tarnished image as a place to do business. We've seen powerhouse hedge fund and financial services company Citadel decamp for Florida. Manufacturing giant Caterpillar, with long ties to Illinois, hightailed it to Texas. Only a few decades after moving its base to Chicago, Boeing relocated its headquarters to the Virginia suburbs of Washington, D.C. Still, don't lose hope just yet. In addition to Northern Trust's stated desire to keep its independence, the good news for Chicago is that a tie-up with BNY Mellon would create substantial anti-trust concerns, even for an administration likely to be friendlier to such deal-making than the Biden administration. Northern Trust also has a particularly strong culture — Midwestern in sensibility, shunning the ostentation often associated with East Coast banking and investment firms — that would be difficult to absorb without risking the loss of key people in a high-touch business where relationships are critical. The axiom in the banking industry long has been that banks are sold, not bought. The sector is highly resistant to hostile takeovers, or even 'bear hugs,' where word of an acquirer's interest is leaked in hopes of stoking pressure from a target's shareholders to sell. Indeed, this leak features all the hallmarks of that latter approach. Still, any time Wall Street perceives a company such as Northern Trust as being 'in play,' all bets are off. A publicly traded company answers ultimately to its shareholders. Even if BNY Mellon's overture doesn't bear fruit in the short run, Northern Trust will have to perform well to remain a stand-alone for the long haul. Avoidable stumbles at Discover — running afoul of regulators in 2023 by failing to invest enough in compliance-related technology and personnel — opened the door for Capital One to make an offer Discover's board decided it couldn't refuse. Northern Trust can afford no such errors now that BNY Mellon's interest is publicly known. Submit a letter, of no more than 400 words, to the editor here or email letters@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
5 days ago
- Business
- Yahoo
BNY Mellon Approaches Northern Trust to Discuss Potential Merger
Last week, The Bank of New York Mellon Corp. BK reached out to Northern Trust Corp. NTRS, signaling interest in merging with the smaller rival. This was reported by the Wall Street Journal, citing people familiar with the executives of BNY Mellon and Northern Trust engaged in at least one conversation, though the firms didn't discuss any particular WSJ news, BK is likely to approach NTRS with a formal bid in the future; however, it is unlikely to result in a deal. BNY Mellon has been engaged in expansion efforts to strengthen its market share domestically as well as globally. Last month, it obtained a license to set up a regional headquarters in Saudi Arabia. In November 2024, the company acquired Archer to enhance its managed account as regulators seek to ease norms for mega bank mergers, it provides another opportunity for BNY Mellon to merge and scale its Mellon and Northern Trust offer similar services, including custody of client assets, wealth and asset management, and other banking business. The potential merger would significantly boost the scale of operations with an asset under management of more than $3 trillion, allowing BK to compete with other global asset managers. Over the past six months, BK shares have risen 17.4% against the industry's decline of 4.3%. Image Source: Zacks Investment Research Currently, BNY Mellon carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Earlier this month, Commerce Bancshares, Inc. CBSH agreed to acquire FineMark Holdings in an all-stock transaction valued at $585 million. The closing of the deal, expected on January 1, 2026, is subject to regulatory approval, approval of FineMark shareholders and other customary closing transaction is expected to be 6% accretive to CBSH's 2026 GAAP earnings, with fully phased cost savings. Cost savings of 15% of FineMark's non-interest expenses are last month, Capital One COF acquired Discover Financial Services. The $35-billion transaction reshapes the landscape of the credit card industry, creating a behemoth (in terms of loan volume).At the time of the announcement (February 2024), it was noted that the Capital One-Discover merger will likely generate and deliver attractive accretion and returns for shareholders. Expense synergies of $1.5 billion in 2027, coupled with network synergies of $1.2 billion, underscore the value-creation potential of the merger. The transaction will result in a more than 15% accretion to adjusted non-GAAP EPS by 2027. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Bank of New York Mellon Corporation (BK) : Free Stock Analysis Report Capital One Financial Corporation (COF) : Free Stock Analysis Report Northern Trust Corporation (NTRS) : Free Stock Analysis Report Commerce Bancshares, Inc. (CBSH) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
