Bank of America and Bank of New York were hit by proposed class-action lawsuits accusing them of aiding in Jeffrey Epstein’s sex-trafficking scheme https://t.co/BVNXkdm7D5 ...

ToplineBank of America and Bank of New York “chose profit” over protecting victims of Jeffrey Epstein despite having information on the late convicted sex offender’s sex trafficking operation, two new lawsuits alleged Wednesday, the latest moves made against major banks regarding Epstein’s crimes and what role financial institutions may have played in facilitating or neglecting them.The lawsuits were filed Wednesday. (Photo by MARK RALSTON / AFP) (Photo by MARK RALSTON/AFP via Getty Images)AFP via Getty Ima ...

Why Epstein Victims Are Going After Banks: JPMorgan, BNY Both Suedhttps://t.co/w2RM3x7Pg6 https://t.co/daXw8aepMz ...

Core Insights - The Bank of New York Mellon Corporation (BK) is expected to report third-quarter 2025 results on October 16, with anticipated year-over-year increases in revenues and earnings [1][10] Financial Performance - In the last reported quarter, BK's earnings exceeded the Zacks Consensus Estimate, driven by increased fee revenues and net interest income (NII), although higher expenses posed a challenge [2] - The average earnings surprise over the last four quarters has been 8.9%, with the consensus estimate for third-quarter earnings at $1.76 per share, reflecting a 15.8% increase from the previous year [3] - The consensus estimate for sales is $4.95 billion, indicating a 6.5% year-over-year growth [3] Revenue Estimates - Total investment services fees are estimated at $2.54 billion, representing an 8.5% increase from the prior year [4] - Financing-related fees are projected at $54 million, showing a 1.9% year-over-year rise [4] - Distribution and servicing fees are expected to decline by 2.8% year-over-year, with a consensus estimate of $36.92 million [5] - Foreign exchange revenues are anticipated to reach $185 million, reflecting a 5.7% increase from the previous year [6] - Total fees and other revenues are estimated at $3.79 billion, indicating a 5.3% year-over-year rise [7] Net Interest Income (NII) - NII is expected to be positively impacted by high interest rates for most of the third quarter, with a consensus estimate of $1.17 billion, marking an 11.4% year-over-year increase [9] - The overall loan balances have increased, contributing to the rise in NII [9] Expense Outlook - Overall expenses are projected to rise due to inflation, technology upgrades, and restructuring initiatives, with estimates for non-interest expenses at $3.25 billion, suggesting a 4.9% year-over-year increase [11] Earnings Expectations - The company has a positive Earnings ESP of +0.86%, indicating a high likelihood of beating the Zacks Consensus Estimate [12] - BNY Mellon currently holds a Zacks Rank 3, suggesting a stable outlook [13]

Core Insights - EquiLend has announced that The Bank of New York Mellon Corporation (BNY) and National Bank of Canada have begun executing trades using 1Source's distributed ledger technology (DLT) to enhance efficiency and eliminate reconciliations [1][3][4] - The adoption of 1Source is expected to transform global securities finance workflows by providing a single source of truth for transactions, thereby increasing operational efficiency and reducing trade breaks [3][4] - The onboarding of BNY and National Bank of Canada is seen as a significant milestone in EquiLend's mission to improve post-trade infrastructure across the securities finance industry [4][5] Industry Impact - The momentum behind 1Source is growing, with additional global broker-dealers expected to join, which will further expand the network and enhance industry-wide synchronization [2][4] - Third-party estimates suggest that 1Source could save industry participants hundreds of millions of dollars annually through improved operational efficiency and optimized costs [4] - The collaboration among industry participants is expected to drive improved accuracy, transparency, and efficiency in securities finance [4][5] Company Statements - EquiLend's CEO, Rich Grossi, emphasized that each new participant strengthens the network effect of 1Source, accelerating the benefits for the industry [4] - BNY's Head of Securities Finance, Nehal Udeshi, highlighted the commitment to innovation and the aim to manage challenges associated with manual reconciliation [5] - National Bank of Canada's Managing Director, Carl Attie, noted that joining 1Source lays the foundation for broader adoption and future enhancements in the securities finance marketplace [5]

Core Insights - The Bank of New York Mellon Corporation (BK) is a significant player in the financial services sector, focusing on investment management and services, with quarterly earnings set to be released on October 16, 2025, and an estimated EPS of $1.75 and projected revenue of approximately $4.98 billion [1] Financial Performance - Analysts forecast a year-over-year EPS increase of 15.1% for BK, indicating strong performance, with expected revenue reaching $4.95 billion, a 6.5% rise from the same quarter last year [2][6] - The consensus EPS estimate has been revised upward by 0.3% over the past 30 days, reflecting a positive reassessment by analysts [2][6] - BK has consistently outperformed earnings estimates, achieving an EPS of $1.94 in the last reported quarter, surpassing the Zacks Consensus Estimate of $1.74, resulting in an 11.49% earnings surprise [3] Financial Metrics - BK has a price-to-earnings (P/E) ratio of approximately 15.37, indicating the market's valuation of its earnings, and a price-to-sales ratio of about 1.88 [4] - The enterprise value to sales ratio is negative at -0.36, suggesting a unique financial structure or market perception, while the enterprise value to operating cash flow ratio is -3.76 [4] - The company's earnings yield is 6.50%, and it has a debt-to-equity ratio of 1.17, indicating a higher level of debt compared to equity [5]

Core Insights - The Bank of New York Mellon Corporation (NYSE:BK) is set to release its third-quarter earnings results on October 16, with analysts expecting earnings of $1.77 per share, an increase from $1.52 per share in the same period last year [1] - The projected quarterly revenue for BNY Mellon is $4.98 billion, up from $4.65 billion a year earlier [1] Financial Activities - On September 3, BNY Mellon announced a public offering of $500 million in depositary shares representing interests in preferred stock [2] - The stock price of Bank of New York Mellon increased by 0.8%, closing at $107.11 on a recent Tuesday [2] Analyst Ratings - Goldman Sachs analyst Alexander Blostein maintained a Buy rating and raised the price target from $106 to $120 [4] - BMO Capital analyst Brennan Hawken initiated coverage with an Outperform rating and a price target of $125 [4] - Truist Securities analyst David Smith maintained a Hold rating and increased the price target from $109 to $118 [4] - Evercore ISI Group analyst Glenn Schorr maintained an In-Line rating and raised the price target from $91 to $110 [4] - Citigroup analyst Keith Horowitz maintained a Neutral rating and increased the price target from $92 to $105 [4]

Core Insights - Energy and Financial sectors dominate the deep-value landscape, with Petrobras (PBR) and Equinor (EQNR) leading in Energy, while Synchrony Financial (SYF) and Bank of New York Mellon (BK) are at the forefront of Financials [1][2][5] Energy Sector - Petrobras (PBR) trades at an Acquirer's Multiple (AM) of 4.0 with a free cash flow (FCF) yield of approximately 38.1%, reflecting macro and political risks rather than deteriorating fundamentals [2] - Equinor (EQNR) has an AM of 2.5 and a FCF yield of around 12.3%, indicating strong cash generation despite market skepticism [2] - The broader energy complex continues to offer double-digit cash returns at low- to mid-single-digit AMs, highlighting ongoing doubts about the sustainability of oil and gas profitability [3] Financial Sector - Bank of New York Mellon (BK) has an AM of 2.1 and a FCF yield of about 3.2%, while Synchrony Financial (SYF) shows a higher AM of 2.2 with a remarkable FCF yield of approximately 37.9% [1][2] - The market remains cautious regarding credit and capital markets exposure, impacting valuations in the financial sector [1] Market Sentiment - Investors are discounting cyclical exposure and macro sensitivity over underlying cash strength, with Energy priced as a sunset sector despite strong capital discipline and high free cash flow [4] - The clustering of Energy and Financials suggests that patient capital may find opportunities through buybacks, dividends, and resilient earnings if pessimism proves excessive [4] Investment Outlook - The current market setup indicates that Energy and Financials are central to global value, with disciplined capital allocation, attractive valuations, and strong FCF yields rewarding long-term investors willing to endure volatility [5]

Core Viewpoint - Analysts forecast that The Bank of New York Mellon Corporation (BK) will report quarterly earnings of $1.75 per share, reflecting a year-over-year increase of 15.1%, with anticipated revenues of $4.95 billion, up 6.5% from the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised upward by 0.3% in the past 30 days, indicating a reassessment by covering analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue Estimates - Analysts project 'Revenue- Market and Wealth Services- Total revenue' to reach $1.70 billion, a 10.3% increase year-over-year [5]. - The estimate for 'Revenue- Securities Services- Total fee and other revenue' is $1.71 billion, suggesting a 6.3% year-over-year change [5]. - 'Revenue- Securities Services- Net interest income' is expected to be $652.08 million, reflecting a 7.1% increase year-over-year [6]. - The total revenue for 'Securities Services' is projected at $2.36 billion, indicating a 6.5% increase from the prior year [6]. Key Financial Metrics - The 'Tier 1 Leverage Ratio' is expected to remain at 6.0%, consistent with the same quarter last year [7]. - The estimated 'Total interest-earning assets - Average balance' is $369.21 billion, up from $356.93 billion in the same quarter last year [7]. - Analysts predict 'Book value per common share' will reach $54.88, compared to $51.78 in the same quarter last year [8]. - The consensus for 'Tier 1 Capital Ratio (Standardized Approach)' is 13.3%, down from 14.5% in the same quarter last year [8]. Nonperforming Loans and Assets - 'Total Nonperforming Loans' are expected to reach $242.13 million, up from $211.00 million in the same quarter last year [9]. - 'Assets under management - Total' is projected at $2152.86 billion, slightly up from $2144.00 billion year-over-year [9]. - 'Nonperforming Assets' are anticipated to be $243.13 million, compared to $211.00 million in the previous year [9]. Capital Ratios - The 'Total Capital Ratio (Standardized Approach)' is expected to be 15.1%, down from 15.6% in the same quarter last year [10]. Stock Performance - Over the past month, The Bank of New York Mellon shares have recorded a return of -1.8%, while the Zacks S&P 500 composite has changed by +0.4% [11].

Core Insights - The market is closely monitoring trade policy developments following President Trump's response to China's rare earth export curbs with higher tariffs [1] - A federal government shutdown may delay the release of key economic reports, but corporate earnings from major banks and semiconductor companies are anticipated [1][3] Corporate Earnings - Major financial firms such as JPMorgan Chase, Wells Fargo, Goldman Sachs, and American Express are set to report earnings this week [2][5] - TSMC, the world's largest chip manufacturer, is expected to report a 40% revenue growth in the first half of 2025 due to strong AI chip sales [7] - Other financial institutions reporting include BlackRock, CitiGroup, Bank of America, and Morgan Stanley throughout the week [6] Economic Data and Federal Reserve - The ongoing government shutdown is likely to extend the blackout on economic data releases, affecting reports on retail sales, jobless claims, and housing starts [3][8] - Federal Reserve officials, including Chair Jerome Powell, are scheduled to speak, coinciding with the release of the Beige Book economic update [9] Key Events and Conferences - Oracle's AI World conference begins on Monday, while Salesforce's Dreamforce event starts on Tuesday [7] - The bond market will be closed on Monday for Columbus Day, but major stock exchanges will remain open [4]