Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.24, read 2026-11-01
Ethical does not pass the values gate
Price147.11 USD
Fair value159.18
Ethical score30.0/100
Our investment reviews on this name
2026-10-29Read Markup148.59-1.0% to today Distribution gives way to Markup
2026-10-22Read Distribution142.09+3.5% to today Markdown gives way to Distribution after a 10% slide in 9 weeks
2026-08-23Read Markdown157.24-6.4% to today ✓Accumulation gives way to Markdown after a 9% rise in 7 weeks
2026-07-02Read Accumulation143.98+2.2% to today ✓First review on file: Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Bank Of New York Mellon Corp holds its Markup at $147.11. The statistical read favours the sellers, held for 59 days.
As held on the ledger · 2026-10-30
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 59 days
Price at the screen
$147.11
Valuation
16.54 trailing · 14.33 forward price to earnings
Values screen
FAIL· score 30.0
Beta
1.05
The Workings
Five Screens, Shown in Full
Does not pass. Excluded industry: Banks - Diversified
Test
Figure
Limit
What it means
Status
Business activity
Excluded
Core business clean
Excluded industry: Banks - Diversified
Fail
Debt load
Excluded
Below 33%
Interest-bearing debt is of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
Excluded
Below 33%
Interest-bearing cash and securities are of assets, above the one-third limit.
Fail
Receivables
Excluded
Below 49%
Money owed to the company is of assets, above the 49% limit.
Fail
Revenue purity
Excluded
Below 5%
of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Bank Of New York Mellon does not clear the screen at the business-activity stage. It operates in conventional financial services, which the screen treats as interest-based, so the financial ratios are not the deciding factor here.
Read as at 2026-11-01. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when BNY's ethical verdict changes
Today BNY does not pass the screen. If new figures move it to a pass, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
Fair value range in USD, drawn from the 2026-10-30 screen. The gold marker is the market price at the same screen. A 8.2% margin of safety to the base estimate.
Where our models see it going: fair-value estimate $159.18, with a range of $121.50 to $195.44, dated to the 2026-10-30 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Banks Move Money but Fail Our Screen
Every pension payout or trade settlement that crosses continents runs through custody banks like BNY Mellon. The business shows steady 13% revenue growth, a 29% profit margin and 14% ROE, yet none of that matters once the ethical screen flags the entire diversified banks sector. We pass, full stop.
At 15.5 times forward earnings the shares sit close to our fair value with only a 4% margin of safety. Thirteen analysts call it a buy with a 175 median target, but our opportunity rating stays at none because the ethical exclusion overrides any valuation signal.
Bank earnings remain hostage to interest-rate swings, regulatory shifts and fee pressure that can erase apparently cheap multiples in a single cycle. The narrow moat offers little protection when the next policy change arrives. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
BNY trades on the NYSE. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-29Markup · changed$148.59+4.6%Entry 14
The framework has shifted from distribution to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 4.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 8% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 59%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (13 analysts) rates it buy, with a mean price target of $143. Insiders have been net sellers over the past quarter.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.4% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is holding around 6% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 59%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (13 analysts) rates it buy, with a mean price target of $143. Insiders have been net sellers over the past quarter.
2026-10-15Markdown$142.71+0.0%Entry 12
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 59%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (13 analysts) rates it buy, with a mean price target of $143. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-14Markdown$142.71+0.0%Entry 11
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 59%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (13 analysts) rates it buy, with a mean price target of $143. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-13Markdown$142.71+0.0%Entry 10
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 59%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (13 analysts) rates it buy, with a mean price target of $143. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-12Markdown$142.71-5.0%Entry 9
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 5.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 59%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (13 analysts) rates it buy, with a mean price target of $143. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-11Markdown$150.15+0.0%Entry 8
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 59%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (13 analysts) rates it buy, with a mean price target of $143. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-10Markdown$150.15+0.0%Entry 7
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 59%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (13 analysts) rates it buy, with a mean price target of $143. Insiders have been net sellers over the past quarter. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-02Markdown$150.15-4.5%Entry 6
Our analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 4.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 59%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (13 analysts) rates it buy, with a mean price target of $143. Insiders have been net sellers over the past quarter.
2026-08-23Markdown · changed$157.24+0.1%Entry 5
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved up 0.1% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 23% above its long-term trend line with momentum reading overbought. Over the past year the shares are up 59%. Our forward projection puts the odds of a 10% gain over the next month near 29%. The street (13 analysts) rates it buy, with a mean price target of $143.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.