Bank of New York Mellon (BK) Set to Announce Quarterly Earnings on Friday

Bank of New York Mellon (NYSE:BK) is set to announce its earnings results before the market opens on Friday, July 12th. Analysts expect the company to announce earnings of $1.41 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Bank of New York Mellon (NYSE:BK) last posted its earnings results on Tuesday, April 16th. The bank reported $1.29 EPS for the quarter, topping the consensus estimate of $1.19 by $0.10. The firm had revenue of $4.53 billion for the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. On average, analysts expect Bank of New York Mellon to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Bank of New York Mellon Trading Down 0.0 %

Shares of NYSE:BK opened at $60.47 on Friday. The company has a market cap of $45.22 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.21 and a beta of 1.09. The stock’s 50-day moving average is $58.63 and its 200-day moving average is $56.22. Bank of New York Mellon has a 52-week low of $39.66 and a 52-week high of $60.91. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71.

Bank of New York Mellon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 9th. Shareholders of record on Friday, April 26th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date was Thursday, April 25th. Bank of New York Mellon’s dividend payout ratio is 40.98%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BK. Royal Bank of Canada reissued a “sector perform” rating and issued a $58.00 price target on shares of Bank of New York Mellon in a report on Wednesday, March 27th. Bank of America lifted their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Keefe, Bruyette & Woods raised shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $60.00 to $70.00 in a research report on Thursday, June 27th. Morgan Stanley lifted their price target on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 18th. Finally, Evercore ISI reissued an “in-line” rating and set a $61.00 price target on shares of Bank of New York Mellon in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.15.

Insider Activity

In other news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the transaction, the vice president now owns 144,721 shares of the company’s stock, valued at approximately $8,343,165.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Catherine Keating sold 54,070 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the transaction, the vice president now directly owns 78,350 shares in the company, valued at approximately $4,299,848. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total transaction of $901,818.95. Following the sale, the vice president now owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The disclosure for this sale can be found here. Insiders have sold a total of 115,928 shares of company stock valued at $6,475,216 over the last quarter. Company insiders own 0.14% of the company’s stock.

About Bank of New York Mellon

The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics.