Bank of New York Mellon Corp (BK) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $0.76 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.75. The company posted revenue of $3776.00 million in the period, compared to analysts expectations of $3795.74 million. The company’s revenue was down -2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.
Many Wall Street Analysts have commented on Bank of New York Mellon Corp. Company shares were Reiterated by Deutsche Bank on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 49 from a previous price target of $47 .
Bank of New York Mellon Corp opened for trading at $40 and hit $40.03 on the upside on Wednesday, eventually ending the session at $40.01, with a gain of 0.76% or 0.3 points. The heightened volatility saw the trading volume jump to 48,15,397 shares. Company has a market cap of $43,094 M.
In a different news, on May 23, 2016, Gerald L Hassell (Chairman & CEO) sold 24,598 shares at $40.76 per share price. According to the SEC, on May 16, 2016, Thomas P Gibbons (Vice Chairman & CFO) sold 376,054 shares at $39.78 per share price. On May 6, 2016, Karen B Peetz (President) sold 65,000 shares at $39.24 per share price, according to the Form-4 filing with the securities and exchange commission.
The Bank of New York Mellon Corporation is a provider of financial products and services in domestic and international markets. Through its two principal businesses Investment Management and Investment Services it serves institutions corporations and high net worth individuals. For institutions and corporations it provides investment management trust and custody foreign exchange fund administration global collateral services securities lending depositary receipts corporate trust global payment/cash management banking services and clearing services. For individuals it provides mutual funds separate accounts wealth management and private banking services. BNY Mellons investment management businesses provide investment products in different asset classes and investment styles. The Company has $28.5 trillion in assets under custody and/or administration and $1.7 trillion in assets under management as of December 31 2014.