|Bid||48.23 x 800|
|Ask||48.79 x 4000|
|Day's Range||47.89 - 48.71|
|52 Week Range||43.67 - 58.22|
|Beta (3Y Monthly)||0.91|
|PE Ratio (TTM)||12.48|
|Earnings Date||Apr 17, 2019 - Apr 22, 2019|
|Forward Dividend & Yield||1.12 (2.22%)|
|1y Target Est||54.00|
"One hundred percent, we will continue to grow here," WeWork exec tells the Business Journal. "I still feel like in Nashville, we are just scratching the surface." (The company has racked up 224,000 square feet of Nashville office space)
Interest expense and low volatility led to issues in the first quarter, and pose a continuing threat to earnings in the months to come.
'They’ll have to take a sharper pencil to expenses' — and the biggest cost for banks is personnel.
on Wednesday reported a drop in net income and per-share earnings from a year ago on weaker revenue from interest income and the firm's investment management business. BNY Mellon said it earned $910 million, or 94 cents a share, in the quarter ended March 31, down from $1.14 billion, or $1.10 a share, in the comparable year-earlier period. Total revenue dropped 7% to $3.9 billion from $4.18 billion a year earlier.
The U.S. Federal Reserve in March did an about-turn on its campaign to raise interest rates and now sees no hikes this year on risks to the economy from a global slowdown. The bank, which gets bulk of its revenue from managing money of clients such as big banks and hedge funds, said it expects second-quarter net interest revenue to fall between 3 percent and 5 percent, from the prior quarter. Net interest revenue fell 8.5 percent to $841 million in the first quarter from a year earlier.
Earlier, the bank reported earnings per share, net interest margin and revenues that missed analysts’ expectations, and Chief Executive Officer Charlie Scharf warned the yield curve would hurt revenue for several quarters to come. Weak revenue overwhelmed the bank’s management of expenses, Credit Suisse’s Susan Roth Katzke wrote in a note. Net interest income, or NII, and fees were both short of forecast, she said, adding that NII was hit by continued deposit run-off.
The company said even though there was less chance of future hikes in interest rates, there has been no decline in competition for deposits. "Competition for deposits is still high, and we expect that the rate paid on interest-bearing deposits will increase a little," BNY Chief Financial Officer Michael Santomassimo said during the bank's post-earnings conference call with analysts.
BNY Mellon (BK) witnesses lower revenues and AUM in the first quarter of 2019. However, lower expenses support results to some extent.
NEW YORK , April 17, 2019 /PRNewswire/ -- Revenue down 7% EPS down 15% ROE 10% ROTCE 21% (a) CET1 11.0% SLR 6.3% The Bank of New York Mellon Corporation ("BNY Mellon") (NYSE: BK) today reported: ...
NEW YORK , April 17, 2019 /PRNewswire/ -- The Bank of New York Mellon Corporation today announced that its Board of Directors authorized dividends on its common and preferred stock as follows: Common – ...
Wall Street finished lower on Wednesday as healthcare stocks came under fire and weighed on sentiment that had been supported by largely positive earnings news in the US and robust economic data from China. Wall Street’s S&P 500 was down 0.2 per cent with the decline led by a 2.85 per cent fall in healthcare stocks. The moves come after UnitedHealth’s chief executive on Tuesday said during the company’s earnings call that proposals like “Medicare for all” and “wholesale disruption” of the health system being pushed by certain lawmakers, could “destabilise the nation’s healthcare system and limit the ability of clinicians to practice medicine at their best”.
Investing.com - Bank of NY Mellon (NYSE:BK) reported first quarter earnings that missed analysts' expectations on Wednesday and revenue that fell short of forecasts.
AM Best has affirmed the Financial Strength Ratings of A and the Long-Term Issuer Credit Ratings of “a+” of BNY Trade Insurance, Ltd. and The Hamilton Insurance Corp.
BNY Mellon (BK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
NEW YORK , April 15, 2019 /PRNewswire/ -- BNY Mellon announced that it has been appointed by Jumia Technologies AG (Jumia), the leading pan-African e-commerce platform, for its American Depositary Receipt ...
NEW YORK, April 15, 2019 /PRNewswire/ -- A major new research study released today from Newton Investment Management, a BNY Mellon Investment Management firm, revealed that more than half (55%) of American investors are unfamiliar with the concept of "Social Investment," defined here as the collective term for investments that seek to achieve some combination of economic, social, and environmental goals (ESG, responsible investing, etc.). "The study results make us ask why social investment isn't more widely understood and why it's not been more widely adopted in the U.S.," said Julian Lyne, Chief Commercial Officer of Newton Investment Management.