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

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

Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings data on Tuesday, April 16th. The bank reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion during the quarter, compared to the consensus estimate of $4.39 billion. Bank of New York Mellon had a return on equity of 11.80% and a net margin of 9.48%. Bank of New York Mellon’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 Stock Performance

Shares of BK opened at $60.70 on Thursday. The stock has a market capitalization of $45.39 billion, a P/E ratio of 14.80, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. The firm’s fifty day simple moving average is $58.95 and its two-hundred day simple moving average is $56.52. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.90. Bank of New York Mellon has a 12 month low of $39.66 and a 12 month high of $60.91.

Bank of New York Mellon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Friday, April 26th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.77%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 40.98%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on BK. Bank of America raised their price target on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the company a “buy” rating in a research report on Wednesday, April 17th. Jefferies Financial Group lifted their price objective on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Evercore ISI reissued an “in-line” rating and issued a $61.00 price target on shares of Bank of New York Mellon in a report on Wednesday, July 3rd. Keefe, Bruyette & Woods raised shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and raised their price target for the company from $60.00 to $70.00 in a report on Thursday, June 27th. Finally, Morgan Stanley lifted their price objective on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, April 18th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.15.

Insider Buying and Selling

In related news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $54.88, for a total value of $2,967,361.60. Following the completion of the sale, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Catherine Keating sold 54,070 shares of the business’s stock in a transaction that occurred on 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 owns 78,350 shares of the company’s stock, valued at $4,299,848. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP J Kevin Mccarthy sold 40,000 shares of the company’s stock in a transaction on Friday, April 19th. The stock was sold at an average price of $56.15, for a total value of $2,246,000.00. Following the transaction, the executive vice president now directly owns 100,404 shares in the company, valued at $5,637,684.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,928 shares of company stock worth $6,475,216. 0.14% of the stock is owned by insiders.

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.