Bank Of New York Mellon Corporation (The) (NYSE:BK) is scheduled to be announcing its earnings results before the market opens on Thursday, October 19th. Analysts expect the company to announce earnings of $0.93 per share for the quarter.

Bank Of New York Mellon Corporation (The) (NYSE:BK) last released its earnings results on Thursday, July 20th. The bank reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.04. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.91 billion. Bank Of New York Mellon Corporation (The) had a return on equity of 10.35% and a net margin of 23.35%. The business’s quarterly revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 earnings per share. On average, analysts expect Bank Of New York Mellon Corporation (The) to post $3.53 EPS for the current fiscal year and $3.93 EPS for the next fiscal year.

Bank Of New York Mellon Corporation (NYSE:BK) opened at 54.88 on Thursday. The stock has a 50 day moving average price of $52.53 and a 200 day moving average price of $50.27. The stock has a market cap of $56.70 billion, a P/E ratio of 16.28 and a beta of 1.15. Bank Of New York Mellon Corporation has a 52-week low of $38.68 and a 52-week high of $54.94.

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

Several equities research analysts have recently commented on the company. BidaskClub raised Bank Of New York Mellon Corporation (The) from a “hold” rating to a “buy” rating in a research note on Sunday, August 6th. Citigroup Inc. reissued a “neutral” rating and set a $56.00 price target (up previously from $53.00) on shares of Bank Of New York Mellon Corporation (The) in a research note on Monday. Credit Suisse Group reissued a “hold” rating and set a $55.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday. Buckingham Research reissued a “neutral” rating and set a $57.00 price target (up previously from $52.00) on shares of Bank Of New York Mellon Corporation (The) in a research note on Monday, July 10th. Finally, Jefferies Group LLC reissued a “hold” rating on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $54.81.

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In other Bank Of New York Mellon Corporation (The) news, Chairman Gerald L. Hassell sold 1,788 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $53.04, for a total transaction of $94,835.52. Following the transaction, the chairman now owns 872,606 shares of the company’s stock, valued at approximately $46,283,022.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $52.90, for a total value of $2,340,825.00. Following the transaction, the insider now directly owns 204,043 shares in the company, valued at approximately $10,793,874.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,931,137 shares of company stock worth $581,058,723. 3.60% of the stock is owned by corporate insiders.

Bank Of New York Mellon Corporation (The) 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 Corporation (The) (NYSE:BK)

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