Bank Of New York Mellon Corporation (The) (NYSE:BK) Announces Quarterly Earnings Results

Bank Of New York Mellon Corporation (The) (NYSE:BK) issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.01, MarketWatch Earnings reports. The business had revenue of $4.02 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Bank Of New York Mellon Corporation (The) had a net margin of 23.14% and a return on equity of 10.51%. Bank Of New York Mellon Corporation (The)’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.90 earnings per share.

Bank Of New York Mellon Corporation (NYSE BK) traded down 0.15% during midday trading on Friday, hitting $52.14. The stock had a trading volume of 5,090,769 shares. The company has a 50-day moving average price of $52.87 and a 200-day moving average price of $50.74. Bank Of New York Mellon Corporation has a 52 week low of $42.73 and a 52 week high of $55.29. The stock has a market cap of $53.87 billion, a P/E ratio of 15.46 and a beta of 1.15.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Tuesday, October 31st will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Monday, October 30th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is currently 28.07%.

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In other Bank Of New York Mellon Corporation (The) news, Director Edward P. Garden sold 1,031,157 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $53.13, for a total transaction of $54,785,371.41. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Trian Fund Management, L.P. sold 5,798,725 shares of the company’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $52.42, for a total value of $303,969,164.50. The disclosure for this sale can be found here. Insiders sold 17,761,019 shares of company stock worth $939,813,259 over the last quarter. 3.60% of the stock is owned by company insiders.

Several equities research analysts have recently weighed in on BK shares. UBS AG lowered shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a report on Friday, September 8th. Zacks Investment Research upgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Tuesday, July 11th. Bank of America Corporation set a $52.00 target price on shares of Bank Of New York Mellon Corporation (The) and gave the company a “sell” rating in a research report on Friday, July 21st. Finally, Royal Bank Of Canada restated a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research report on Friday, July 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Bank Of New York Mellon Corporation (The) has a consensus rating of “Hold” and a consensus price target of $55.28.

About Bank Of New York Mellon Corporation (The)

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Earnings History for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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