Bank of New York Mellon (BK) Posts Earnings Results, Misses Expectations By $0.02 EPS
Bank of New York Mellon (NYSE:BK) released its earnings results on Wednesday. The bank reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02), MarketWatch Earnings reports. Bank of New York Mellon had a return on equity of 11.53% and a net margin of 22.19%. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $4.01 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. The firm’s revenue for the quarter was down 6.7% compared to the same quarter last year.
BK stock opened at $53.44 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $50.22 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 1.50 and a beta of 1.03. Bank of New York Mellon has a 12 month low of $43.67 and a 12 month high of $58.22.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Monday, April 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.10%. Bank of New York Mellon’s dividend payout ratio is 26.60%.
In related news, Director Edward P. Garden sold 171,960 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $52.28, for a total transaction of $8,990,068.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward P. Garden sold 1,336 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $52.00, for a total transaction of $69,472.00. The disclosure for this sale can be found here. Insiders sold 3,713,437 shares of company stock valued at $198,594,100 over the last three months. Insiders own 1.71% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of BK. Lavaca Capital LLC bought a new stake in shares of Bank of New York Mellon during the 4th quarter worth $27,000. Berman Capital Advisors LLC acquired a new position in Bank of New York Mellon during the 4th quarter valued at $33,000. Sontag Advisory LLC acquired a new position in Bank of New York Mellon during the 4th quarter valued at $33,000. Valley National Advisers Inc. raised its stake in Bank of New York Mellon by 76.5% during the 4th quarter. Valley National Advisers Inc. now owns 713 shares of the bank’s stock valued at $34,000 after purchasing an additional 309 shares during the last quarter. Finally, Essex Savings Bank acquired a new position in Bank of New York Mellon during the 4th quarter valued at $35,000. 87.61% of the stock is owned by institutional investors and hedge funds.
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About Bank of New York Mellon
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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