BNY

BNY (The Bank of New York Mellon Corporation) is the largest custody bank in the world. It holds and services assets for asset managers, pension funds, insurers and other institutions. It had $63.4 trillion of assets under custody and administration and $2.2 trillion of assets under management at September 30, 2026. Its segments are Securities Services, Market and Wealth Services, and Investment and Wealth Management.

They include asset servicing, corporate trust, depositary receipts, clearance and collateral management, payments and Pershing. Revenue was $20.1 billion in 2025. BNY is based in New York, and its shares trade on the New York Stock Exchange.

BNY trades at a premium because investors pay for its fast rise in returns. Return on tangible common equity rose from 26.1% in 2025 to 29.0% in Q3 2026. In Q3 2026, revenue grew 12%, fee revenue grew 12% and diluted EPS grew 24%. Net interest income rose 15% because BNY reinvested securities at higher yields and lent more.

BNY also buys back shares: shares outstanding fell to 672.9 million at September 30, 2026 from 688.2 million at December 31, 2025. For the premium to be earned, three things must be true. Fee revenue must keep growing near 10% a year from new business, with revenue that grows faster than expenses. Net interest income must hold if interest rates fall; it fell 2% from Q2 to Q3 2026.

Buybacks and dividends must continue while the CET1 ratio stays near 11%. The Q4 2026 report, expected in mid-January 2027, gives the next test. If expenses grow faster than revenue, as they did from Q2 to Q3 2026, or if lower rates cut net interest income, the premium can shrink within a year.

1. Oct 15, 2026Passed

   Q3 2026 resultsRevenue and EPS growth with a return on tangible common equity near 30% pass; a fall in net interest income with lower returns fails.Outcome: Revenue rose 12%, EPS rose 24% and return on tangible common equity was 29.0%, although net interest income fell 2% from Q2.
2. Jan 15, 2027 · est.Pending

   Q4 2026 results and 2027 outlookFee growth near 10%, stable net interest income and revenue that grows faster than expenses pass; falling net interest income or weaker operating leverage fail.

Every passed and failed checkpoint across all picks

• October 28, 2026BNY issued Series O noncumulative perpetual preferred stock through 1,250,000 depositary shares, for $1.25 billion.
• October 15, 2026BNY reported Q3 2026 results. Revenue rose 12% to $5.676 billion, and diluted EPS rose 24% to $2.34. The pre-tax operating margin was 38.5%, and return on tangible common equity was 29.0%. Net interest income rose 15% to $1.423 billion. BNY returned $1.4 billion to shareholders, including $937 million of buybacks. The CET1 ratio was 10.9%.
• September 20, 2026BNY redeemed all of its Series F noncumulative perpetual preferred stock.

Last earnings

October 15, 2026 (8-K on sec.gov)

Next earnings

Expected about January 15, 2027. The company has not confirmed the date.

• 10-QQuarterly report for the period ended Sep 30, 2026Filed October 30, 2026 · bk-20260930
• 8-KChange to shareholder rights or bylaws and Other company newsFiled October 28, 2026 · Read it on sec.gov
• 8-KEarnings release and Investor disclosureFiled October 15, 2026 · bk-20261015
• 8-KChange to shareholder rights or bylawsFiled September 22, 2026 · bk-20260922
• 8-KOther company newsFiled August 20, 2026 · Read it on sec.gov
• 8-KChange of directors or officersFiled August 13, 2026 · Read it on sec.gov
• 8-KOther company newsFiled August 12, 2026 · Read it on sec.gov
• 10-QQuarterly report for the period ended Jun 30, 2026Filed July 31, 2026 · bk-20260630
• 8-KChange to shareholder rights or bylaws and Other company newsFiled July 23, 2026 · Read it on sec.gov
• 8-KEarnings release and Investor disclosureFiled July 15, 2026 · bk-20260715

Every filing on SEC EDGAR (CIK 1390777)

• Net interest income was about a quarter of revenue in Q3 2026. Lower interest rates or smaller deposits can lower it, as in Q3 2026 when it fell 2% from Q2.
• Fee revenue depends on market values and client activity. A fall in stock and bond markets lowers fees on assets under custody and management.
• BNY runs systems that move and hold trillions of dollars of client assets. A cyber attack or a large outage can cause losses and harm client trust.
• Assets under management grew only 2% in the year to Q3 2026 because of net outflows. Investment and Wealth Management grows more slowly than the rest of BNY.

BNY is a bank, so its balance sheet is mostly deposits, securities and loans, and not corporate debt. Average deposits were $311 billion in Q3 2026, up 4% from a year earlier. Read more

Dividend yield

1.6% (last 12 months, at today’s price of $151.23)

Paid per share

$2.422 in the last 12 months (6 payments)

Current annual rate

$2.52 ($0.63 × 4 a year)

Payout ratio

27% of the last fiscal year’s earnings (the year that ended December 31, 2025)

Latest ex-dividend date

October 26, 2026, $0.63 per share

Dividends per share by year

Source: company filings and market data, read on November 9, 2026. The ex-dividend date is the first day a buyer no longer gets the next payment.