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

Bank of New York Mellon (NYSE:BK - Get Free Report) is expected to issue its quarterly earnings data before the market opens on Friday, April 11th. Analysts expect the company to announce earnings of $1.50 per share and revenue of $4.76 billion for the quarter. Persons that wish to register for the company's earnings conference call can do so using this link.

Bank of New York Mellon (NYSE:BK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The bank reported $1.72 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.18. Bank of New York Mellon had a net margin of 11.35% and a return on equity of 12.68%. The business had revenue of $4.85 billion for the quarter, compared to analyst estimates of $4.66 billion. During the same quarter in the prior year, the business earned $1.28 EPS. Bank of New York Mellon's quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts expect Bank of New York Mellon to post $7 EPS for the current fiscal year and $8 EPS for the next fiscal year.

Bank of New York Mellon Stock Performance

Shares of NYSE:BK traded down $0.73 during trading on Tuesday, reaching $73.36. 4,832,449 shares of the stock were exchanged, compared to its average volume of 3,945,392. Bank of New York Mellon has a 12 month low of $52.64 and a 12 month high of $90.34. The stock has a 50-day moving average price of $84.22 and a 200-day moving average price of $80.06. The company has a current ratio of 0.69, a quick ratio of 0.70 and a debt-to-equity ratio of 0.83. The firm has a market cap of $52.67 billion, a PE ratio of 12.63, a PEG ratio of 0.97 and a beta of 1.03.

Remove Ads

Bank of New York Mellon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 7th. Investors of record on Monday, January 27th were paid a $0.47 dividend. The ex-dividend date was Monday, January 27th. This represents a $1.88 annualized dividend and a yield of 2.56%. Bank of New York Mellon's dividend payout ratio (DPR) is presently 32.36%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Bank of New York Mellon stock. Revolve Wealth Partners LLC purchased a new stake in The Bank of New York Mellon Co. (NYSE:BK - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,858 shares of the bank's stock, valued at approximately $220,000. Institutional investors own 85.31% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BK shares. Evercore ISI lifted their target price on Bank of New York Mellon from $83.00 to $87.00 and gave the stock an "in-line" rating in a report on Tuesday, April 1st. StockNews.com cut shares of Bank of New York Mellon from a "buy" rating to a "hold" rating in a research note on Wednesday, February 19th. Truist Financial decreased their target price on shares of Bank of New York Mellon from $93.00 to $90.00 and set a "buy" rating on the stock in a research report on Friday. Wells Fargo & Company lifted their price target on shares of Bank of New York Mellon from $86.00 to $96.00 and gave the company an "equal weight" rating in a research report on Monday, March 3rd. Finally, Citigroup increased their price target on Bank of New York Mellon from $82.00 to $85.00 and gave the stock a "neutral" rating in a research report on Monday, March 24th. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $89.86.

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.