Finance

Bank of New York Mellon Corp (BK) to Issue $0.19 Quarterly Dividend

Bank of New York Mellon Corp (BK) to Issue $0.19 Quarterly Dividend

The bank reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The performance for month is -1.10% and the performance for half year is 0.38%. The company reported revenue of $4.06 Billion in the same period previous year.

Today, Credit Suisse Group AG reiterated its Hold rating on Bank of New York Mellon Corp (NYSE:BK). The stock has a market cap of $48.62 billion, a price-to-earnings ratio of 14.88 and a beta of 1.32.

The stock's 50 day moving average is 47.35 and its 200 day moving average is 45.96. Stockholders of record on Tuesday, May 2nd will be paid a dividend of 0.19 per share by the bank on Friday, May 12th. This represents a $0.76 dividend on an annualized basis and a yield of 1.63%. Bank of New York Mellon Corp has a payout ratio of 22.0% indicating that its dividend is sufficiently covered by earnings.

Stock is now moving with a positive distance from the 200 day simple moving average of approximately 6.86%, and has a poor year to date (YTD) performance of -0.68% which means the stock is constantly subtracting to its value from the previous fiscal year end price. The Moving Average SMA50 is 0.03% while SMA200 is 7.52%. Moreover, Archer Capital Management L.P. has 4.96% invested in the company for 1.03 million shares. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Earnings per share serves as an indicator of a company's profitability.

In related news, Vice Chairman Brian T. Shea sold 199,676 shares of the company's stock in a transaction dated Wednesday, February 8th.

The Bank of New York Mellon Corporation (NYSE:BK) Asset Management has a Current Ratio of *TBA with a Quick Ratio value of *TBA.

During the last 52-week trading period, the peak price level of 52-week was $49.54; it means it is top price of 52-week and price level of 52-week was $35.72; it means minimum price of the 52-week at which share is traded.

10/21/2016 - Bank Of New York Mellon Corporation (The) had its " rating reiterated by analysts at Morgan Stanley. Kistler Tiffany Companies LLC increased its stake in Bank of New York Mellon Corp by 0.3% in the third quarter.

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How Company Returns Shareholder's Value?

On 10/20/2015 Bank of New York Mellon Corp announced a Quarterly dividend of $0.17 with an ex dividend date of 10/29/2015 which will be payable on 11/13/2015.

Asset servicing fees for Q1 2017 reached $1.06 billion, a marginal decrease on the $1.07 billion seen in the previous quarter.

COPYRIGHT VIOLATION NOTICE: "Bank of New York Mellon Corp (BK) Releases Quarterly Earnings Results, Meets Estimates" was published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another publication, it was illegally copied and reposted in violation of U.S. & worldwide trademark and copyright legislation.

The Bank of New York Mellon Corporation is an investments company.

Other equities research analysts have also issued reports about the stock.

A valuation metric for determining relative trade-off among price of a stock; The Bank of New York Mellon Corporation (NYSE:BK) has price to earnings growth of 1.32. Book value per share was $34.23 for the quarter, up 2.67 percent or $0.89 compared to $33.34 for the same period past year. JP Morgan Downgrades the stock to Neutral on 1/06/17 with no specific Price Target. Finally, Barclays PLC upped their target price on shares of Bank of New York Mellon Corp from $48.00 to $55.00 and gave the company an "overweight" rating in a report on Tuesday, January 3rd. Analysts have a mean recommendation of 2.60 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The stock presently has an average rating of "Hold" and a consensus target price of $50.92.

The Bank of New York Mellon Corporation is an investments company. The Firm operates businesses through two divisions: Investment Management and Investment Services. Citigroup Inc raised shares of Bank of New York Mellon Corp from an "outperform" rating to a "strong-buy" rating and increased their target price for the stock from $50.00 to $57.00 in a report on Wednesday, December 28th.


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