Equities analysts predict that Bank of New York Mellon Corp (NYSE:BK) will report earnings per share (EPS) of $1.04 for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Bank of New York Mellon’s earnings. The lowest EPS estimate is $1.02 and the highest is $1.05. Bank of New York Mellon reported earnings per share of $0.98 during the same quarter last year, which indicates a positive year over year growth rate of 6.1%. The company is scheduled to announce its next earnings report before the market opens on Thursday, October 18th.

According to Zacks, analysts expect that Bank of New York Mellon will report full-year earnings of $4.17 per share for the current financial year, with EPS estimates ranging from $4.13 to $4.21. For the next fiscal year, analysts anticipate that the firm will post earnings of $4.46 per share, with EPS estimates ranging from $4.35 to $4.64. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Bank of New York Mellon.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Thursday, July 19th. The bank reported $1.03 EPS for the quarter, topping the consensus estimate of $1.02 by $0.01. Bank of New York Mellon had a net margin of 25.08% and a return on equity of 11.40%. The firm had revenue of $4.14 billion for the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the previous year, the business earned $0.88 earnings per share. Bank of New York Mellon’s revenue for the quarter was up 4.6% compared to the same quarter last year.

Several analysts have issued reports on BK shares. Zacks Investment Research downgraded Bank of New York Mellon from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Raymond James downgraded Bank of New York Mellon from an “outperform” rating to a “market perform” rating in a report on Thursday, July 12th. Sandler O’Neill restated a “hold” rating on shares of Bank of New York Mellon in a report on Friday, July 13th. Keefe, Bruyette & Woods set a $56.00 price objective on Bank of New York Mellon and gave the stock a “hold” rating in a report on Thursday, July 19th. Finally, ValuEngine downgraded Bank of New York Mellon from a “hold” rating to a “sell” rating in a report on Friday, July 20th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. Bank of New York Mellon presently has an average rating of “Hold” and an average target price of $58.58.

NYSE BK traded down $0.09 on Friday, hitting $49.10. 6,000,226 shares of the company were exchanged, compared to its average volume of 4,972,133. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.82. The company has a market cap of $50.99 billion, a PE ratio of 13.64, a PEG ratio of 1.59 and a beta of 1.05. Bank of New York Mellon has a twelve month low of $48.25 and a twelve month high of $58.99.

Bank of New York Mellon declared that its Board of Directors has authorized a share repurchase plan on Thursday, June 28th that allows the company to repurchase $2.40 billion in outstanding shares. This repurchase authorization allows the bank to reacquire up to 4.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Several institutional investors and hedge funds have recently modified their holdings of BK. Rowland & Co. Investment Counsel ADV bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $102,000. Quad Cities Investment Group LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $102,000. Kaizen Advisory LLC grew its stake in shares of Bank of New York Mellon by 157.6% in the 2nd quarter. Kaizen Advisory LLC now owns 2,558 shares of the bank’s stock valued at $138,000 after buying an additional 1,565 shares in the last quarter. Ostrum Asset Management bought a new stake in shares of Bank of New York Mellon in the 1st quarter valued at approximately $148,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Bank of New York Mellon in the 2nd quarter valued at approximately $172,000. Institutional investors own 83.40% of the company’s stock.

Bank of New York Mellon Company Profile

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.

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Earnings History and Estimates for Bank of New York Mellon (NYSE:BK)

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