15 Best Bank Stocks to Buy According to Billionaires

12. The Bank of New York Mellon Corporation (NYSE:BK)

Number of Billionaire Investors: 13

The Bank of New York Mellon Corporation (NYSE:BK) is a global financial services company that provides services like custody and trust, investment and wealth management, securities lending, and liquidity solutions. The company also specializes in clearing, prime brokerage, private banking, and corporate treasury services. Its client base includes central banks, asset managers, corporations, and high-net-worth individuals. BK is one of the best bank stocks to monitor.

On March 3, The Bank of New York Mellon Corporation (NYSE:BK) announced that it is selling 500,000 depositary shares priced at $1,000 each, raising $500 million. Investors will earn a 6.3% yearly dividend until March 20, 2030, after which the rate may change based on government bond rates. From 2030 onwards, BNY Mellon can choose to buy back these shares. The sale, managed by Deutsche Bank, Goldman Sachs, Morgan Stanley, RBC Capital Markets, UBS Investment Bank, and BNY Mellon Capital Markets, was expected to close on March 10, 2025.

In 2024, The Bank of New York Mellon Corporation (NYSE:BK) earned $4.3 billion in net income and $18.6 billion in revenue, 5% more than the previous year. Investment services fees jumped 7%, driven by new business, market growth, and increased client activity, while wealth management fees rose 3%. Despite a relatively stable market, foreign exchange revenue climbed 9% due to higher client trading. However, net interest income dipped slightly due to shifts in deposits, though stronger investment yields helped balance it out. To top it off, BNY returned 102% of its earnings to shareholders through dividends and stock buybacks last year.