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

Bank of New York Mellon (NYSE:BK) will be announcing its earnings results before the market opens on Friday, July 12th. Analysts expect the company to announce earnings of $1.41 per share for the quarter. Individual interested in registering for the company’s earnings 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 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.10. The business had revenue of $4.53 billion for the quarter, compared to analyst estimates of $4.39 billion. Bank of New York Mellon had a net margin of 9.48% and a return on equity of 11.80%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $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 Trading Up 0.8 %

Shares of NYSE:BK opened at $60.70 on Thursday. The stock has a market capitalization of $45.39 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 1.19 and a beta of 1.09. Bank of New York Mellon has a 1-year low of $39.66 and a 1-year high of $60.91. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.71 and a current ratio of 0.71. The company has a 50 day moving average price of $58.95 and a 200 day moving average price of $56.52.

Bank of New York Mellon Announces Dividend

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

Analysts Set New Price Targets

BK has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price on shares of Bank of New York Mellon from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Morgan Stanley upped their target price on shares of Bank of New York Mellon from $62.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. Evercore ISI reaffirmed an “in-line” rating and set a $61.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods upgraded shares of Bank of New York Mellon from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $60.00 to $70.00 in a research report on Thursday, June 27th. Finally, Bank of America upped their target price on shares of Bank of New York Mellon from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.15.

Insiders Place Their Bets

In other news, VP Catherine Keating sold 54,070 shares of the stock in a transaction dated 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 sale, the vice president now directly owns 78,350 shares of the company’s stock, valued at $4,299,848. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, VP Senthilkumar Santhanakrishnan sold 15,643 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $57.65, for a total value of $901,818.95. Following the sale, the vice president now directly owns 144,721 shares of the company’s stock, valued at $8,343,165.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Catherine Keating sold 54,070 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $54.88, for a total transaction of $2,967,361.60. Following the transaction, the vice president now owns 78,350 shares in the company, valued at $4,299,848. The disclosure for this sale can be found here. Insiders sold 115,928 shares of company stock worth $6,475,216 over the last quarter. 0.14% of the stock is currently owned by company insiders.

About Bank of New York Mellon

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.