The Bank of New York Mellon Corporation · BK · FY2024 Q3 · Calendar Q4 2024

BNY posts strong Q3 growth as operating leverage holds

BNY's Q3 results support a constructive operating narrative: fee-related growth, higher market values and platform initiatives coincided with operating leverage. The main tests are sustaining expense discipline, navigating rate-sensitive net interest income and executing the Archer and platform integration plans.

Reported Before market openNYSEFinancial Services $97.40B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $1.52 Consensus $1.42
EPS surprise +7.0% Reported versus consensus
Reported revenue $10.22B Consensus $4.54B
Revenue surprise +125.3% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move -0.4% Event window
SPY move +0.6% Same window
Abnormal move -1.0% Stock minus SPY
Volume 2.5× Versus trailing sessions
Subsequent drift +3.9% Up to 20 sessions
BKSPY benchmark

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Transcript intelligence

What changed

The quarter added evidence of continued operating leverage and scale: revenue grew 5% year over year, EPS rose 22%, assets under custody and administration passed $50 trillion, and management introduced the Archer acquisition and Alts Bridge initiatives.

Guidance delta

Management guidance sentiment was maintained, including the plan for flat reported expenses and capital returns above 100% of earnings.

Key takeaways

  • Revenue grew 5% year over year, while EPS increased 22% and the pre-tax margin was 33%.
  • Assets under custody and administration reached $52.1 trillion, up 14% year over year.
  • Management highlighted the Archer acquisition, platform rollout and AI hub investment as strategic initiatives.

Management priorities

  • Close the Archer acquisition before year-end.
  • Expand the platform operating model and Alts Bridge across wealth platforms.
  • Continue AI hub investment and cross-selling through the One BNY model.

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Earnings History

Estimate Beat Miss Match
BK REVENUE earnings history estimate and actual scatter chart 8 reported fiscal quarters and 4 future estimate-only quarters. Q4 '23 estimate $4B Q4 '23 actual $4B, beat Q1 '24 estimate $4B Q1 '24 actual $4B, beat Q2 '24 estimate $5B Q2 '24 actual $5B, beat Q3 '24 estimate $5B Q3 '24 actual $10B, beat Q2 '25 estimate $5B Q2 '25 actual $5B, beat Q3 '25 estimate $5B Q3 '25 actual $5B, beat Q4 '25 estimate $5B Q4 '25 actual $5B, beat Q1 '26 estimate $5B Q1 '26 actual $5B, beat Q4 '26 estimate $6B Q1 '27 estimate $6B Q2 '27 estimate $6B Q3 '27 estimate $6B

Analyst Consensus ?

ConsensusBuy29 ratings
Bullish1758.6%
Neutral1241.4%
Bearish00.0%

Analyst 52W Price Targets

$137.16Previous close
$48Low
$97.79Average
$149High

Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of May 22, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
JP Morgan Overweight OverweightMaintainMay 11, 2026
Truist Securities Buy BuyMaintainApr 17, 2026
RBC Capital Sector Perform Sector PerformMaintainApr 17, 2026
Morgan Stanley Equal Weight Equal WeightMaintainApr 17, 2026
Keefe, Bruyette & Woods Outperform OutperformMaintainApr 17, 2026
Show 24 more rating actions

Named analyst price targets

Upside is calculated against the persisted previous close $137.16. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
New StreetAnalyst unavailable$87$141.91 -36.6%Jul 10, 2026
Truist FinancialAnalyst unavailable$148$135.09 +7.9%Apr 17, 2026
Evercore ISIAnalyst unavailable$136$135.16 -0.8%Apr 17, 2026
Morgan StanleyAnalyst unavailable$139$135.88 +1.3%Apr 17, 2026
RBC CapitalGerard Cassidy$142$135.77 +3.5%Apr 17, 2026
See 55 more

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Company context

Snapshot as of publication

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. It operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics. This segment also provides trustee, paying agency, fiduciary, escrow and other financial, issuer, and support services for brokers and investors. The Market and Wealth Services segment offers clearing and custody, investment, wealth and retirement solutions, technology and enterprise data management, trading, and prime brokerage services.…

Historical context

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Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-10-17T05:10:49.140638+00:00
  3. Polygon adjusted daily market bars · 2026-10-12T16:40:41.892672+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-12T16:40:41.889934+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-12. For educational purposes only; not investment advice.