BK - The Bank of New York Mellon Corporation
Chart Events
Performance Outlook
- Short Term2W - 6W
- Mid Term6W - 9M
- Long Term9M+
| Previous Close | 35.86 |
| Open | 35.76 |
| Bid | 35.26 x 3000 |
| Ask | 36.49 x 800 |
| Day's Range | 35.56 - 35.99 |
| 52 Week Range | 26.40 - 51.60 |
| Volume | 4,720,555 |
| Avg. Volume | 5,811,192 |
| Market Cap | 31.758B |
| Beta (5Y Monthly) | 1.08 |
| PE Ratio (TTM) | 7.73 |
| EPS (TTM) | 4.64 |
| Earnings Date | Oct 14, 2020 - Oct 19, 2020 |
| Forward Dividend & Yield | 1.24 (3.46%) |
| Ex-Dividend Date | Jul 24, 2020 |
| 1y Target Est | 44.25 |
- PR Newswire
BNY Mellon Wealth Management Names Larry Tekler as Senior Director, Team Leader in Newport Beach, CA
BNY Mellon Wealth Management has named Larry Tekler as Senior Director, Team Leader in Newport Beach, CA. Larry leads a talented group of Wealth Managers and Associates to deliver a broad and holistic set of wealth management solutions to business owners, families, family offices, and other clients with complex financial needs in the Newport Beach market. Larry reports directly to West Regional President Rob Kricena.
- PR Newswire
BNY Mellon Wealth Management Names Barry McKenzie as Market President in Naples, FL
BNY Mellon Wealth Management has named Barry McKenzie as Market President in Naples, FL. In this role, Barry manages product and service delivery for the Naples region, and will have direct responsibility for wealth managers, client strategists, and support staff. Barry reports directly to Southeast Regional President Kent Moegerle.
- Motley Fool
How Safe Is Bank of New York Mellon and Its Dividend?
Second-quarter results for banks are coming in, and we have seen some big drops in earnings as they have built up credit loss reserves. Coronavirus-related issues have created issues for consumers who have credit card debt as well as for businesses that have been forced to temporarily close. Bank of New York Mellon (NYSE: BK) has a somewhat different business model than the typical bank that makes its money by taking deposits and making loans.
- Barrons.com
Wells Fargo Stock Pops on New CFO
(WFC) stock rose Tuesday after the bank named a new chief financial officer, amid an ongoing management overhaul. Wells Fargo (ticker: WFC) named Mike Santomassimo its new CFO, replacing John Shrewsberry. Shrewsberry, who will retire in the fall, had spent more than two decades at the firm, and had held the CFO position since 2014.
- TheStreet.com
Bank of New York Mellon and Wells Fargo Name New CFOs
Bank of New York Mellon named Emily Portney CFO, succeeding Mike Santomassimo, who stepped down to take the same post at Wells Fargo.
- PR Newswire
Emily Portney Appointed as Chief Financial Officer of BNY Mellon
The Bank of New York Mellon Corporation ("BNY Mellon") (NYSE: BK) announced today that Emily Portney has been appointed Chief Financial Officer, effective immediately, succeeding Mike Santomassimo, who has informed the company of his decision to leave. Ms. Portney will report to Todd Gibbons, CEO of BNY Mellon, and will join BNY Mellon's Executive Committee.
- PR Newswire
BNY Mellon Wealth Management Names Kent Moegerle as Southeast Regional President
BNY Mellon Wealth Management has appointed Kent Moegerle as Southeast Regional President, overseeing the Atlanta, Fort Lauderdale, Miami, Naples, Palm Beach Gardens, Tampa, and Winter Park markets.
- PR Newswire
BNY Mellon's Pershing Names Emily Schlosser as Chief Operating Officer
BNY Mellon's Pershing ("Pershing"), a leading provider of global financial business solutions, today announced that Emily Schlosser has been named the company's new chief operating officer, effective today. Schlosser joins Pershing from Goldman Sachs, where she was head of change for the Global Markets Division. In that role, she led the transformation of their institutional client experience as well as major initiatives to drive new revenue streams, build scale, and manage risk and regulatory obligations.
- Motley Fool
Worried About Another Crash? Try Bank of New York Mellon
Banks, in particular, have struggled mightily on 0% interest rates and credit losses. BNY Mellon is not a traditional bank that makes loans and takes deposits. BNY Mellon is a custody bank, which holds and protects financial assets for mostly large institutional clients, like mutual fund companies, hedge funds, and pension funds.
- Thomson Reuters StreetEvents
Edited Transcript of BK earnings conference call or presentation 15-Jul-20 12:00pm GMT
Q2 2020 Bank of New York Mellon Corp Earnings Call
- Zacks
BNY Mellon (BK) Q2 Earnings & Revenues Beat, Provisions Jump
Rise in fee income and higher assets balance support BNY Mellon's (BK) Q2 results amid lower rates and rising provisions.
- TheStreet.com
Bank of New York Mellon Falls Despite Q2 Earnings, Sales Beat
Bank of New York Mellon reported a 2% increase in total revenue while earnings were flat year over year.
- Zacks
BNY Mellon (BK) Beats on Q2 Earnings as Revenues Improve
BNY Mellon's Q2 results reflect higher revenues and assets growth, while lower rates hurt.
- Benzinga
Recap: Bank of New York Mellon Q2 Earnings
Shares of Bank of New York Mellon (NYSE:BK) rose 0.5% in pre-market trading after the company reported Q2 results.Quarterly Results Earnings per share were unchanged 0.00% over the past year to $1.01, which beat the estimate of $0.91.Revenue of $4,010,000,000 higher by 2.19% from the same period last year, which beat the estimate of $3,890,000,000.Outlook Earnings guidance hasn't been issued by the company for now.Revenue guidance hasn't been issued by the company for now.How To Listen To The Conference Call Date: Jul 15, 2020View more earnings on BKTime: 08:00 AMET Webcast URL: https://78449.choruscall.com/dataconf/productusers/bk/mediaframe/38411/indexr.htmlRecent Stock Performance 52-week high: $51.60Company's 52-week low was at $26.40Price action over last quarter: Up 4.71%Company Description BNY Mellon is a global investment company involved in the management and servicing of financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors, and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with over $35 trillion in under custody and administration (as of March 31, 2020), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investment.See more from Benzinga * Earnings Scheduled For July 15, 2020 * A Look Into Bank of New York Mellon's Price Over Earnings * P/E Ratio Insights for Bank of New York Mellon(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- PR Newswire
BNY Mellon Reports Second Quarter 2020 Earnings Of $901 Million Or $1.01 Per Common Share
Revenue up 2%
- PR Newswire
BNY Mellon Declares Dividends
The Bank of New York Mellon Corporation (NYSE: BK) today announced that its Board of Directors authorized dividends on its common and preferred stock as follows:
- Bloomberg
Fee War Hit Limit With Demise of ETF That Paid You to Invest
(Bloomberg) -- The wave of cost-cutting that has been sweeping the more than $6 trillion global market for exchange-traded funds for the past two years may finally have reached its limit.In the space of a few weeks, the first and only fund that paid people to invest has switched to a new owner and started to charge, while one of the few “zero-fee” ETFs has been shut down completely.The two products were unrelated, but the twin events look like confirmation of what many in the industry have long believed: The fee war could only go so far. Now they’re preparing for what they hope will be a new era that places more value on strategy and returns than on price point.“ETFs have come to a new stage of development where the fee war is only part of the story,” said Linda Zhang, chief executive officer of Purview Investments in New York. “The next phase of the story is who is able to provide better performing products, net of fee.”If that happens it’ll be a sea change for the passive industry.Faced with an increasingly competitive landscape -- at last count there were roughly 2,200 ETFs in the U.S. alone -- issuers have been slashing expense ratios amid the desperate fight to lure assets.While it left plenty of experts wondering how they were making money and fretting potential hidden costs, for investors it should have been a dream come true.Alongside cuts to trading commissions it meant even the smallest among them could buy an ETF through their favorite broker for peanuts then pay nothing for its annual management fee. Yet it seems not many took advantage.Salt Financial made headlines last year by releasing the Salt Low TruBeta U.S. Market ETF (LSLT) which would temporarily pay investors, with holders receiving 50 cents for every $1,000 -- until it grew to $100 million or April 2020 when a $2.90 management fee could kick in.The ETF never managed to raise more than about $12 million, and the issuer announced last month that the fund -- along with another Salt product, the Salt High TruBeta U.S. Market ETF (SLT) -- would be acquired by Pacer Advisors. It started charging the $2.90 fee in May, and is currently down about 10% this year.“Even though it worked in the sense that it raised assets, it didn’t raise them enough for us to feel that being in the retail business made sense,” said Alfred Eskandar, co-founder and president of Salt Financial, which still supplies the indexes for LSLT and SLT. “People are starting to see through that, they’re realizing it’s about quality, it’s about the uniqueness of the strategy, it’s about performance.”The market turmoil caused by the coronavirus may have accelerated that trend, as traders navigate the extreme volatility and seek out investments that can thrive in what could be a new economic era.Michael Venuto, chief investment officer of Toroso Investments, points to the outperformance of some thematic funds and actively managed offerings like the Ark Innovation ETF (ARKK) as the latest craze occupying investor attention.“The fee war for beta is pretty much over,” he said. “We’ve seen a lot of people that are done with the fee war and are now interested in, ‘what can I buy that will do better than the market?’”That’s not to say Venuto thinks zero-fee is dead. Last year, he helped Social Finance Inc., an online lender known as SoFi, unveil two funds without fees, the SoFi Select 500 ETF (SFY) and the SoFi Next 500 ETF (SFYX).SFY currently has $95 million in assets and SFYX has $11 million. Venuto says the tactic was more for the benefit of SoFi’s existing investors than to attract new ones, and will continue indefinitely for the two products.In Australia, a different picture: The Pinnacle aShares Dynamic Cash Fund Managed Fund (Z3RO) was a money-market like fund aiming to pay above the official interest rate without management fees. The fund was suspended last month with A$4 million ($2.7 million) in assets, less than a year after its launch.In a statement to the Australian stock exchange, Pinnacle Fund Services Ltd. said it considers it unlikely the fund “will reach sufficient scale to be economically viable.”If zero-fee funds did disappear, it wouldn’t necessarily signal a rich new era of profits for ETF issuers. Industry competition remains fierce, especially between giant asset managers like BlackRock Inc. and Vanguard Group, the two largest players.Just last month, BlackRock lowered the cost on its biggest ETF, the iShares Core S&P 500 ETF (IVV) to match a Vanguard Group rival. For Ben Johnson, co-head of passive strategy at Morningstar Inc., it’s like rival gas stations on the same strip, each trying to undercut the other on an identical product.“At some point you can’t go any lower,” Johnson said. “When you draw near to that zero bound, the incremental gain to the end investors doesn’t mean a whole heck of a lot.”Read more: Vanguard Trounces BlackRock for ETF Flows in Volatile HalfMeanwhile, plenty of other issuers are nipping at their heels, seeking to steal some of that dominant market share.BNY Mellon recently launched the first zero-fee bond fund, the BNY Mellon Core Bond ETF (BKAG) as well as another zero-fee product tracking big American companies, the BNY Mellon US Large Cap Core Equity ETF (BKLC).Their success may ultimately depend more on the funds than on their fees, however.“At the end of the day, you get what you pay for,” said Eskandar at Salt Financial.(Updates with fund performance in 10th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Should You Buy BNY Mellon (BK) Ahead of Earnings?
BNY Mellon (BK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
- Zacks
Growth in Assets to Support BNY Mellon's (BK) Q2 Earnings
Rise in asset balances are expected to have aided BNY Mellon's (BK) performance fee in second-quarter 2020. Lower interest rates are likely to have hurt net interest revenues.
- Yahoo Finance
Earnings season kicks off with big banks, Netflix: What to know in the week ahead
Market participants are bracing for the start of what will likely be the weakest corporate earnings season since the global financial crisis, as the coronavirus pandemic and measures to contain it hit business activity especially hard in the second quarter.
- Yahoo Finance Video
Big banks set for worst financial quarter since financial crisis
As big banks gear up for earnings season, many investors are anticipating the worst quarter for the banks since the financial crisis. Yahoo Finance’s Brian Cheung joins The Final Round panel to break down the details.
- Benzinga
A Look Into Bank of New York Mellon's Price Over Earnings
In the current market session, Bank of New York Mellon Inc. (NYSE: BK) is trading at $38.63, after a 2.29% rise. However, over the past month, the stock fell by 3.33%, and in the past year, by 11.52%. Shareholders might be interested in knowing whether the stock is undervalued, even if the company is performing up to par in the current session.The stock is currently above from its 52 week low by 46.34%. Assuming that all other factors are held constant, this could present itself as an opportunity for investors trying to diversify their portfolio with Asset Management stocks, and capitalize on the lower share price observed over the year.The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against its past earnings, historical data and aggregate market data for the industry or the indices, such as S&P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also shows that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future.Depending on the particular phase of a business cycle, some industries will perform better than others.Compared to the aggregate P/E ratio of the 19.92 in the Asset Management industry, Bank of New York Mellon Inc. has a lower P/E ratio of 8.18. Shareholders might be inclined to think that they might perform worse than its industry peers. It's also possible that the stock is undervalued.P/E ratio is not always a great indicator of the company's performance. Depending on the earnings makeup of a company, investors may not be able to attain key insights from trailing earnings.See more from Benzinga * P/E Ratio Insights for Bank of New York Mellon(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- Zacks
BNY Mellon & Deutsche Bank Jointly Develop Digital FX Solution
BNY Mellon (BK) and Deutsche Bank's (DB) alliance to develop a digital FX solution will likely reduce the transaction times in trading of emerging market restricted currencies.
- PR Newswire
BNY Mellon, Deutsche Bank Collaborate to Revolutionize Custody FX for Restricted EM Currencies
BNY Mellon and Deutsche Bank have jointly developed a new API-enabled foreign-exchange (FX) solution that can dramatically improve confirmation times for restricted emerging-market currency trades.
- Insider Monkey
Were Hedge Funds Right About Selling The Bank of New York Mellon Corporation (BK)?
We know that hedge funds generate strong, risk-adjusted returns over the long run, which is why imitating the picks that they are collectively bullish on can be a profitable strategy for retail investors. With billions of dollars in assets, professional investors have to conduct complex analyses, spend many resources and use tools that are not […]
