Analysts expect Bank of New York Mellon Corp (NYSE:BK) to report earnings per share (EPS) of $0.96 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Bank of New York Mellon’s earnings, with the lowest EPS estimate coming in at $0.90 and the highest estimate coming in at $1.01. Bank of New York Mellon posted earnings of $0.80 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 20%. The company is expected to issue its next quarterly earnings results on Thursday, April 19th.
According to Zacks, analysts expect that Bank of New York Mellon will report full year earnings of $4.06 per share for the current year, with EPS estimates ranging from $3.95 to $4.20. For the next fiscal year, analysts anticipate that the company will report earnings of $4.46 per share, with EPS estimates ranging from $4.25 to $4.62. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for Bank of New York Mellon.
Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings data on Thursday, January 18th. The bank reported $0.91 EPS for the quarter, hitting analysts’ consensus estimates of $0.91. Bank of New York Mellon had a net margin of 24.72% and a return on equity of 10.69%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period last year, the business posted $0.77 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis.
Shares of Bank of New York Mellon (NYSE BK) traded down $2.05 during mid-day trading on Thursday, reaching $53.29. 7,076,970 shares of the company’s stock traded hands, compared to its average volume of 5,005,923. The company has a quick ratio of 0.69, a current ratio of 0.70 and a debt-to-equity ratio of 0.82. Bank of New York Mellon has a 12-month low of $45.12 and a 12-month high of $58.99. The firm has a market cap of $56,235.89, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.76 and a beta of 1.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Tuesday, January 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Monday, January 29th. Bank of New York Mellon’s dividend payout ratio is currently 25.74%.
In other Bank of New York Mellon news, Director Edward P. Garden sold 650,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $52.60, for a total value of $34,190,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas P. Gibbons sold 38,152 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $54.15, for a total transaction of $2,065,930.80. Following the completion of the sale, the chief financial officer now directly owns 310,002 shares of the company’s stock, valued at approximately $16,786,608.30. The disclosure for this sale can be found here. Insiders sold a total of 831,944 shares of company stock valued at $43,807,887 in the last three months. Insiders own 3.60% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Capital International Investors lifted its holdings in shares of Bank of New York Mellon by 120.8% during the 3rd quarter. Capital International Investors now owns 23,045,005 shares of the bank’s stock worth $1,221,846,000 after acquiring an additional 12,607,183 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Bank of New York Mellon by 1.4% during the 3rd quarter. First Eagle Investment Management LLC now owns 19,753,288 shares of the bank’s stock worth $1,047,319,000 after acquiring an additional 271,858 shares during the period. Longview Partners Guernsey LTD lifted its holdings in shares of Bank of New York Mellon by 1.7% during the 4th quarter. Longview Partners Guernsey LTD now owns 17,675,284 shares of the bank’s stock worth $951,991,000 after acquiring an additional 293,300 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Bank of New York Mellon by 1.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 9,046,925 shares of the bank’s stock worth $479,668,000 after acquiring an additional 128,778 shares during the period. Finally, American Century Companies Inc. lifted its holdings in shares of Bank of New York Mellon by 9.1% during the 4th quarter. American Century Companies Inc. now owns 6,557,953 shares of the bank’s stock worth $353,211,000 after acquiring an additional 549,519 shares during the period. 83.75% of the stock is owned by institutional investors.
About Bank of New York Mellon
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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