Bank of New York Mellon Corp (NYSE:BK) – Analysts at Jefferies Group lowered their Q1 2018 earnings estimates for Bank of New York Mellon in a research report issued to clients and investors on Thursday. Jefferies Group analyst K. Usdin now expects that the bank will earn $0.94 per share for the quarter, down from their previous forecast of $0.95. Jefferies Group also issued estimates for Bank of New York Mellon’s Q3 2018 earnings at $1.05 EPS, Q4 2018 earnings at $1.01 EPS and FY2018 earnings at $4.00 EPS.
Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Thursday, January 18th. The bank reported $0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.91. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $4.01 billion. Bank of New York Mellon had a return on equity of 10.69% and a net margin of 24.72%. Bank of New York Mellon’s revenue was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.77 earnings per share.
Shares of Bank of New York Mellon (BK) opened at $55.96 on Monday. The stock has a market capitalization of $56,990.23, a price-to-earnings ratio of 15.63, a P/E/G ratio of 1.81 and a beta of 1.16. Bank of New York Mellon has a 52-week low of $45.12 and a 52-week high of $58.99. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.70 and a quick ratio of 0.70.
Large investors have recently added to or reduced their stakes in the company. Wealthfront Inc. increased its stake in shares of Bank of New York Mellon by 6.6% during the fourth quarter. Wealthfront Inc. now owns 47,762 shares of the bank’s stock valued at $2,572,000 after buying an additional 2,974 shares during the period. Rothschild Asset Management Inc. purchased a new position in shares of Bank of New York Mellon during the third quarter valued at $612,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Bank of New York Mellon during the third quarter valued at $748,000. Rhumbline Advisers increased its stake in shares of Bank of New York Mellon by 1.0% during the third quarter. Rhumbline Advisers now owns 1,746,821 shares of the bank’s stock valued at $92,616,000 after buying an additional 16,839 shares during the period. Finally, Taylor Hoffman Wealth Management purchased a new position in shares of Bank of New York Mellon during the fourth quarter valued at $144,000. Institutional investors and hedge funds own 84.20% of the company’s stock.
In other news, insider Bridget E. Engle sold 38,928 shares of Bank of New York Mellon stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $56.62, for a total transaction of $2,204,103.36. Following the completion of the sale, the insider now directly owns 68,046 shares in the company, valued at $3,852,764.52. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Trian Fund Management, L.P. bought 360,000 shares of the firm’s stock in a transaction dated Friday, March 9th. The shares were acquired at an average price of $56.67 per share, with a total value of $20,401,200.00. The disclosure for this purchase can be found here. 3.60% of the stock is currently owned by company insiders.
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Bank of New York Mellon 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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