Bank Of New York Mellon (BK) Set to Announce Quarterly Earnings on Thursday

Bank Of New York Mellon (NYSE:BK) will announce its earnings results before the market opens on Thursday, January 18th. Analysts expect the company to announce earnings of $0.91 per share for the quarter.

Bank Of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Thursday, October 19th. The bank reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.01. The business had revenue of $4.02 billion for the quarter, compared to analysts’ expectations of $3.99 billion. Bank Of New York Mellon had a return on equity of 10.51% and a net margin of 23.14%. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 EPS. On average, analysts expect Bank Of New York Mellon to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of Bank Of New York Mellon (NYSE:BK) opened at $57.54 on Wednesday. The stock has a market capitalization of $59,450.00, a PE ratio of 16.92, a P/E/G ratio of 1.84 and a beta of 1.22. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.69 and a current ratio of 0.69. Bank Of New York Mellon has a 1-year low of $43.85 and a 1-year high of $58.99.

In other news, Director Trian Fund Management, L.P. sold 5,798,725 shares of the stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $52.42, for a total transaction of $303,969,164.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas P. Gibbons sold 38,152 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $54.15, for a total value of $2,065,930.80. Following the transaction, the chief financial officer now owns 310,002 shares in the company, valued at $16,786,608.30. The disclosure for this sale can be found here. Insiders have sold a total of 7,708,334 shares of company stock worth $404,956,863 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

A number of equities analysts have weighed in on BK shares. Zacks Investment Research upgraded Bank Of New York Mellon from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Wednesday, December 20th. ValuEngine upgraded Bank Of New York Mellon from a “hold” rating to a “buy” rating in a research note on Tuesday, December 5th. Royal Bank of Canada restated a “hold” rating and issued a $58.00 target price on shares of Bank Of New York Mellon in a research note on Wednesday, November 15th. Barclays upped their target price on Bank Of New York Mellon from $55.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Morgan Stanley upped their target price on Bank Of New York Mellon from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.59.

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Bank Of New York Mellon Company Profile

The Bank of New York Mellon Corporation is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes the leasing portfolio, corporate treasury activities (including its investment securities portfolio), derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

Earnings History for Bank Of New York Mellon (NYSE:BK)

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