Bank of New York Mellon (NYSE:BNY) Posts Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Bank of New York Mellon (NYSE:BNYGet Free Report) released its earnings results on Wednesday. The bank reported $2.46 EPS for the quarter, topping the consensus estimate of $2.16 by $0.30, FiscalAI reports. The business had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Bank of New York Mellon had a return on equity of 15.29% and a net margin of 14.60%.

Bank of New York Mellon Price Performance

Shares of NYSE BNY opened at $154.62 on Wednesday. The stock has a fifty day simple moving average of $142.23 and a two-hundred day simple moving average of $128.94. Bank of New York Mellon has a 1-year low of $93.37 and a 1-year high of $155.09. The firm has a market cap of $106.13 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.11 and a beta of 1.07. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

Bank of New York Mellon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 8th. Investors of record on Monday, April 27th were paid a $0.53 dividend. The ex-dividend date was Monday, April 27th. This represents a $2.12 annualized dividend and a yield of 1.4%. Bank of New York Mellon’s dividend payout ratio is presently 26.27%.

Insider Transactions at Bank of New York Mellon

In other news, EVP J Kevin Mccarthy sold 30,000 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $136.50, for a total transaction of $4,095,000.00. Following the transaction, the executive vice president owned 50,238 shares of the company’s stock, valued at $6,857,487. This represents a 37.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Shannon Marie Hobbs sold 297 shares of Bank of New York Mellon stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $137.05, for a total value of $40,703.85. Following the completion of the sale, the vice president directly owned 15,206 shares of the company’s stock, valued at approximately $2,083,982.30. This trade represents a 1.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 48,091 shares of company stock valued at $6,568,423. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of Bank of New York Mellon

Institutional investors have recently modified their holdings of the business. Wilkerson Advisory Group LLC purchased a new position in Bank of New York Mellon during the 4th quarter valued at about $31,000. Heritage Wealth Advisors purchased a new position in Bank of New York Mellon during the fourth quarter valued at approximately $31,000. Atlas Capital Advisors Inc. bought a new stake in Bank of New York Mellon during the 4th quarter worth approximately $44,000. Kemnay Advisory Services Inc. bought a new stake in Bank of New York Mellon during the 4th quarter worth approximately $49,000. Finally, Morse Asset Management Inc purchased a new stake in Bank of New York Mellon in the 3rd quarter worth approximately $50,000. 85.31% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on BNY. Wall Street Zen raised Bank of New York Mellon to a “hold” rating in a research report on Saturday, May 23rd. Truist Financial raised their price target on shares of Bank of New York Mellon from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Barclays boosted their price target on shares of Bank of New York Mellon from $143.00 to $149.00 and gave the stock an “overweight” rating in a report on Friday, April 17th. Citigroup increased their price objective on shares of Bank of New York Mellon from $136.00 to $167.00 and gave the company a “neutral” rating in a research note on Tuesday, June 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Bank of New York Mellon from $137.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Bank of New York Mellon currently has an average rating of “Moderate Buy” and a consensus target price of $143.46.

View Our Latest Analysis on BNY

About Bank of New York Mellon

(Get Free Report)

BNY, formerly known as BNY Mellon, is a global financial services company headquartered in New York City. Formed in 2007 through the merger of the Bank of New York and Mellon Financial Corporation, BNY traces its roots back to 1784, making it one of the oldest banking institutions in the United States. It was also the first company listed on the New York Stock Exchange.

BNY operates at the center of the world’s capital markets, partnering with clients to help them operate more efficiently and accelerate growth.

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Earnings History for Bank of New York Mellon (NYSE:BNY)

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