Equities research analysts predict that Bank Of New York Mellon Corporation (The) (NYSE:BK) will report $0.92 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Bank Of New York Mellon Corporation (The)’s earnings, with the lowest EPS estimate coming in at $0.89 and the highest estimate coming in at $0.95. Bank Of New York Mellon Corporation (The) posted earnings per share of $0.90 during the same quarter last year, which indicates a positive year over year growth rate of 2.2%. The business is expected to issue its next earnings results on Thursday, October 19th.

On average, analysts expect that Bank Of New York Mellon Corporation (The) will report full year earnings of $3.53 per share for the current financial year, with EPS estimates ranging from $3.48 to $3.57. For the next financial year, analysts anticipate that the company will post earnings of $3.91 per share, with EPS estimates ranging from $3.80 to $4.02. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that cover Bank Of New York Mellon Corporation (The).

Bank Of New York Mellon Corporation (The) (NYSE:BK) last posted its earnings results on Thursday, July 20th. The bank reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. Bank Of New York Mellon Corporation (The) had a net margin of 23.35% and a return on equity of 10.35%. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter last year, the firm posted $0.76 EPS. The company’s revenue for the quarter was up .4% on a year-over-year basis.

Several equities analysts have commented on the stock. BidaskClub upgraded shares of Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Tuesday, July 11th. Buckingham Research reaffirmed a “neutral” rating and set a $57.00 price target (up from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a report on Monday, July 10th. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, July 21st. Finally, Bank of America Corporation set a $52.00 price target on Bank Of New York Mellon Corporation (The) and gave the stock a “sell” rating in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.82.

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Shares of Bank Of New York Mellon Corporation (NYSE BK) traded up 0.84% on Friday, hitting $51.56. 5,083,264 shares of the stock were exchanged. The company’s 50 day moving average is $52.43 and its 200-day moving average is $49.53. The stock has a market cap of $53.27 billion, a PE ratio of 15.29 and a beta of 1.14. Bank Of New York Mellon Corporation has a 52-week low of $38.68 and a 52-week high of $54.59.

Bank Of New York Mellon Corporation (The) declared that its board has initiated a stock repurchase program on Wednesday, June 28th that permits the company to buyback $3.10 billion in shares. This buyback authorization permits the bank to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

In related news, Vice Chairman Brian T. Shea sold 44,250 shares of Bank Of New York Mellon Corporation (The) stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total transaction of $2,340,825.00. Following the completion of the sale, the insider now owns 204,043 shares in the company, valued at approximately $10,793,874.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles W. Scharf acquired 186,900 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average price of $53.82 per share, with a total value of $10,058,958.00. Following the transaction, the chief executive officer now owns 73,640 shares in the company, valued at approximately $3,963,304.80. The disclosure for this purchase can be found here. Insiders have sold a total of 10,931,137 shares of company stock valued at $581,058,723 in the last ninety days. Corporate insiders own 3.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. purchased a new stake in Bank Of New York Mellon Corporation (The) during the 2nd quarter worth about $1,139,000. Bronfman E.L. Rothschild L.P. increased its position in Bank Of New York Mellon Corporation (The) by 4.4% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,197 shares of the bank’s stock worth $104,000 after purchasing an additional 92 shares in the last quarter. First Interstate Bank increased its position in Bank Of New York Mellon Corporation (The) by 56.2% during the 2nd quarter. First Interstate Bank now owns 2,339 shares of the bank’s stock worth $119,000 after purchasing an additional 842 shares in the last quarter. Exane Derivatives purchased a new stake in Bank Of New York Mellon Corporation (The) during the 2nd quarter worth about $130,000. Finally, Hudock Capital Group LLC increased its position in Bank Of New York Mellon Corporation (The) by 0.3% during the 2nd quarter. Hudock Capital Group LLC now owns 2,556 shares of the bank’s stock worth $130,000 after purchasing an additional 7 shares in the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.

About Bank Of New York Mellon Corporation (The)

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.

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Earnings History and Estimates for Bank Of New York Mellon Corporation (The) (NYSE:BK)

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