The Bank of New York Mellon Co. (NYSE:BK – Get Rating) – Analysts at Seaport Res Ptn lowered their Q2 2023 earnings estimates for shares of Bank of New York Mellon in a note issued to investors on Tuesday, April 19th. Seaport Res Ptn analyst J. Mitchell now anticipates that the bank will post earnings per share of $1.45 for the quarter, down from their previous forecast of $1.50.
Bank of New York Mellon (NYSE:BK – Get Rating) last announced its earnings results on Monday, April 18th. The bank reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.01. The firm had revenue of $3.93 billion during the quarter, compared to analyst estimates of $3.94 billion. Bank of New York Mellon had a return on equity of 9.51% and a net margin of 23.26%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.97 EPS.
Shares of BK opened at $47.02 on Thursday. The business’s fifty day simple moving average is $51.91 and its two-hundred day simple moving average is $56.34. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.69. Bank of New York Mellon has a 12 month low of $44.99 and a 12 month high of $64.63. The company has a market cap of $37.95 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.71 and a beta of 1.12.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 11th. Shareholders of record on Thursday, April 28th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, April 27th. This represents a $1.36 annualized dividend and a dividend yield of 2.89%. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 32.77%.
Several large investors have recently made changes to their positions in BK. Norges Bank bought a new stake in shares of Bank of New York Mellon during the fourth quarter valued at approximately $555,083,000. Millennium Management LLC raised its stake in shares of Bank of New York Mellon by 1,368.8% during the fourth quarter. Millennium Management LLC now owns 1,668,416 shares of the bank’s stock valued at $96,902,000 after acquiring an additional 1,554,823 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Bank of New York Mellon by 201.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,820,978 shares of the bank’s stock valued at $94,399,000 after acquiring an additional 1,217,578 shares in the last quarter. Marathon Asset Mgmt Ltd bought a new stake in shares of Bank of New York Mellon during the third quarter valued at approximately $58,226,000. Finally, BlackRock Inc. raised its stake in shares of Bank of New York Mellon by 1.7% during the third quarter. BlackRock Inc. now owns 58,293,459 shares of the bank’s stock valued at $3,021,932,000 after acquiring an additional 957,284 shares in the last quarter. Institutional investors and hedge funds own 82.45% of the company’s stock.
Bank of New York Mellon Company Profile (Get Rating)
The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and Other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, prime brokerage, and data analytics.
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