Analysts predict that Bank Of New York Mellon Corporation (The) (NYSE:BK) will announce earnings per share (EPS) of $0.91 for the current quarter, Zacks reports. Four analysts have made estimates for Bank Of New York Mellon Corporation (The)’s earnings. The lowest EPS estimate is $0.88 and the highest is $0.93. Bank Of New York Mellon Corporation (The) reported earnings of $0.77 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.2%. The firm is scheduled to announce its next quarterly earnings results on Thursday, January 18th.

According to Zacks, analysts expect that Bank Of New York Mellon Corporation (The) will report full-year earnings of $3.54 per share for the current fiscal year, with EPS estimates ranging from $3.51 to $3.57. For the next year, analysts forecast that the company will post earnings of $3.90 per share, with EPS estimates ranging from $3.75 to $3.97. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Bank Of New York Mellon Corporation (The).

Bank Of New York Mellon Corporation (The) (NYSE:BK) last issued its quarterly earnings results on Thursday, October 19th. The bank reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.01. The business had revenue of $4.02 billion during the quarter, compared to the consensus estimate of $3.99 billion. Bank Of New York Mellon Corporation (The) had a net margin of 23.14% and a return on equity of 10.51%. 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 earned $0.90 EPS.

A number of research analysts recently issued reports on BK shares. Royal Bank Of Canada restated a “hold” rating and set a $58.00 price objective on shares of Bank Of New York Mellon Corporation (The) in a report on Thursday, August 31st. Zacks Investment Research cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. UBS AG cut shares of Bank Of New York Mellon Corporation (The) from a “buy” rating to a “neutral” rating and set a $56.00 price target for the company. in a report on Friday, September 8th. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $58.00 price target (up previously from $52.85) on shares of Bank Of New York Mellon Corporation (The) in a report on Friday. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $56.00 price target on shares of Bank Of New York Mellon Corporation (The) in a report on Friday, September 15th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $55.28.

In other news, Chairman Gerald L. Hassell sold 1,788 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $53.04, for a total value of $94,835.52. Following the sale, the chairman now owns 872,606 shares of the company’s stock, valued at $46,283,022.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Brian T. Shea sold 44,250 shares of the business’s stock in a transaction on 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 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 three months, insiders sold 10,931,137 shares of company stock worth $581,058,723. 3.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of BK. BlackRock Inc. raised its position in Bank Of New York Mellon Corporation (The) by 2,064.6% during the first quarter. BlackRock Inc. now owns 57,741,220 shares of the bank’s stock worth $2,727,121,000 after acquiring an additional 55,073,730 shares in the last quarter. Berkshire Hathaway Inc. raised its position in Bank Of New York Mellon Corporation (The) by 52.2% during the second quarter. Berkshire Hathaway Inc. now owns 50,229,588 shares of the bank’s stock worth $2,562,715,000 after acquiring an additional 17,217,529 shares in the last quarter. New England Asset Management Inc. raised its position in Bank Of New York Mellon Corporation (The) by 92,225.0% during the first quarter. New England Asset Management Inc. now owns 3,693,000 shares of the bank’s stock worth $174,420,000 after acquiring an additional 3,689,000 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Bank Of New York Mellon Corporation (The) by 1,303.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,624,187 shares of the bank’s stock worth $133,886,000 after acquiring an additional 2,437,230 shares in the last quarter. Finally, Capital International Investors raised its position in Bank Of New York Mellon Corporation (The) by 27.9% during the second quarter. Capital International Investors now owns 10,437,822 shares of the bank’s stock worth $532,538,000 after acquiring an additional 2,275,822 shares in the last quarter. 81.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Bank Of New York Mellon Corporation (NYSE BK) opened at 52.51 on Tuesday. Bank Of New York Mellon Corporation has a 12 month low of $41.93 and a 12 month high of $55.29. The company has a 50 day moving average of $52.86 and a 200 day moving average of $50.69. The stock has a market cap of $54.25 billion, a P/E ratio of 15.57 and a beta of 1.15.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 9th. Stockholders of record on Tuesday, October 31st will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, October 30th. Bank Of New York Mellon Corporation (The)’s dividend payout ratio is presently 28.07%.

Bank Of New York Mellon Corporation (The) announced that its Board of Directors has approved a share buyback program on Wednesday, June 28th that allows the company to repurchase $3.10 billion in outstanding shares. This repurchase authorization allows the bank to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

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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.

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

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