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

Bank of New York Mellon (NYSE:BK) is scheduled to issue its quarterly earnings data before the market opens on Friday, October 11th. Analysts expect the company to announce earnings of $1.37 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, July 12th. The bank reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.08. Bank of New York Mellon had a net margin of 9.40% and a return on equity of 11.87%. The company had revenue of $4.60 billion during the quarter, compared to analyst estimates of $4.53 billion. During the same period in the prior year, the business posted $1.38 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, analysts expect Bank of New York Mellon to post $6 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Bank of New York Mellon Trading Down 0.2 %

Shares of BK stock opened at $70.82 on Friday. The stock has a market cap of $52.96 billion, a price-to-earnings ratio of 16.39, a P/E/G ratio of 1.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.70 and a current ratio of 0.70. Bank of New York Mellon has a 52-week low of $39.66 and a 52-week high of $73.19. The firm has a fifty day moving average of $67.33 and a 200-day moving average of $61.66.

Bank of New York Mellon Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 2nd. Stockholders of record on Monday, July 22nd were paid a $0.47 dividend. The ex-dividend date was Monday, July 22nd. This represents a $1.88 annualized dividend and a dividend yield of 2.65%. This is an increase from Bank of New York Mellon’s previous quarterly dividend of $0.42. Bank of New York Mellon’s dividend payout ratio is currently 43.52%.

Insider Buying and Selling

In other Bank of New York Mellon news, VP Hanneke Smits sold 15,000 shares of Bank of New York Mellon stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $64.11, for a total transaction of $961,650.00. Following the completion of the transaction, the vice president now owns 173,930 shares in the company, valued at approximately $11,150,652.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BK shares. Barclays boosted their target price on Bank of New York Mellon from $68.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Deutsche Bank Aktiengesellschaft raised shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $80.00 in a research report on Monday, September 23rd. Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Monday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $75.00 target price (up previously from $70.00) on shares of Bank of New York Mellon in a report on Monday, July 15th. Finally, The Goldman Sachs Group increased their price target on shares of Bank of New York Mellon from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.38.

Bank of New York Mellon Company Profile

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.