|Bid||25.53 x 800|
|Ask||26.00 x 800|
|Day's Range||25.50 - 25.59|
|52 Week Range||21.83 - 26.00|
|Beta (3Y Monthly)||0.04|
|PE Ratio (TTM)||6.66|
|Forward Dividend & Yield||1.30 (5.09%)|
|1y Target Est||N/A|
BNY Mellon is staying the course with its drive for increased efficiency and that means job cuts remain part of the strategy to offset technology and product investments. “This includes eliminating unnecessary management layers across every area of the firm, from staff to sales to operations, automating processes which are today manual and rethinking the flow of activity between us and our clients,” chairman and CEO Charlie Scharf told financial analysts during BNY Mellon’s second-quarter earnings call on Wednesday. BNY Mellon (NYSE:BK) reported net income applicable to common shareholders of $969 million, down 8% from a year ago, and diluted earnings per common share of $1.01, down 2% from the second quarter of 2018.
BNY Mellon Corp's push to reinvigorate its money management business has yet to stem a continuous outflow of client cash from its $322 billion complex of index-based investment products. BNY Mellon executives delivered more bad news on Wednesday when they detailed $22 billion in net withdrawals from index portfolios during the second quarter. Most of that outflow came from a single, unnamed client that took assets in-house, BNY Mellon Chief Financial Officer Michael Santomassimo said on a conference call.
Amazon, Bank of New York Mellon, CSX, Qualcomm and Neuralink are the companies to watch.
Bank of New York Mellon continued to battle a “difficult operating environment” in its second quarter, characterised by a negative yield curve, low levels of market volatility and a stronger dollar. The tough conditions combined to see revenue and earnings at the world’s biggest custodian bank fall compared with a year ago, although its assets under custody increased. “The impact of the level and shape of the yield curve, as well as continued low levels of volatility and muted market activity, negatively impacted our results”, Charlie Scharf, chief executive, said.
With a centuries old history, BNY Mellon can still attract and retain its clients the old fashioned way while growing this company to gigantic proportions.
Details the 52-week lows for the following companies: Bristol-Myers Squibb, Simon Property Group, Bank of New York Mellon, Carnival Corp., State Street, and Kroger. Continue reading...
Bank of New York Mellon Corp NYSE:BKView full report here! Summary * Perception of the company's creditworthiness is positive * Bearish sentiment is low * Economic output for the sector is expanding but at a slower rate Bearish sentimentShort interest | PositiveShort interest is extremely low for BK with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting BK. Money flowETF/Index ownership | NeutralETF activity is neutral. The net inflows of $2.93 billion over the last one-month into ETFs that hold BK are not among the highest of the last year and have been slowing. Economic sentimentPMI by IHS Markit | NegativeAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Financials sector is rising. The rate of growth is weak relative to the trend shown over the past year, however, and is easing. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. BK credit default swap spreads are near the lowest level of the last three years and indicate the market's continued positive perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
In March 2008, Bear Stearns nearly collapsed. Then the financial crisis happened. Then financial regulation was heightened. A decade later, and the Senate Banking Committee is already trying to relax those very same regulations with a new bill that is headed to the Senate for a vote.
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Staff cuts continue at BNY Mellon’s Pittsburgh operations, historically home to the largest concentration of employees across the financial giant’s international footprint. BNY Mellon (NYSE:BK), which is based in New York, declined to divulge numbers.
Now that the nation’s largest custodial bank is backing a marijuana exchange-traded fund, the trickle-down implications are huge, local money managers say. BNY Mellon is serving as custodian, administrator and transfer agent for AdvisorShares Pure Cannabis ETF. Major financial institutions in the U.S. are struggling to balance the demand of institutional and mom-and-pop investors alike while federal laws still categorize cannabis as an illegal drug.