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MarketScreener Homepage  >  Equities  >  Nyse  >  Bank of New York Mellon (The)    BK

BANK OF NEW YORK MELLON (THE)

(BK)
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Delayed Quote. Delayed Nyse - 08/21 06:30:00 pm
41.94 USD   -0.05%
08/21BANK OF NEW YORK MELLON : FRY9C June 2019
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08/21BANK OF NEW YORK MELLON : FFIEC 031 June 2019
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08/20BANK OF NEW YORK MELLON : Prospectus filed pursuant to Rule 424(b)(2)
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Bank of New York Mellon : Revenue, Earnings Fall

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07/17/2019 | 07:16am EDT

By Chris Wack

Earnings at Bank of New York Mellon Corp. (BK) decreased in the company's second quarter as fee revenue slipped 3% from the same period a year ago.

The company reported $1.02 billion in net income, down 8% from the comparable quarter a year prior. Earnings were $1.01 a share, down from $1.03 a share. Analysts polled by FactSet were expecting 95 cents a share.

Total revenue fell 5% to $3.9 billion. Analysts were expecting $3.924 billion in revenue.

"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," Chief Executive Charlie Scharf said in prepared remarks. ""Our results this quarter also reflect our ongoing increased level of technology and product development investments, but these increases were more than offset by improved efficiency across the company."

Mr. Scharf added that, "We are pleased that we will be able to return capital to shareholders through up to $3.94 billion in common share repurchases by mid-2020, an increase of roughly 20%, and an increase in our common dividend by 11% to 31 cents per share starting in the third quarter."

Net interest revenue for the quarter fell 12%, while the company's total noninterest expenses were $2.65 billion, down 4% from last year.

Write to Chris Wack at chris.wack@wsj.com

Corrections & Amplifications

This article was corrected at 08:44 a.m. ET because the original had an incorrect FactSet consensus number. Analysts polled by FactSet were expecting second-quarter earnings for Bank of New York Mellon Corp. (BK) of 95 cents a share.

This article is part of a news chaine.
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Financials (USD)
Sales 2019 15 677 M
EBIT 2019 4 761 M
Net income 2019 3 717 M
Debt 2019 32 612 M
Yield 2019 2,78%
P/E ratio 2019 10,7x
P/E ratio 2020 10,1x
EV / Sales2019 4,60x
EV / Sales2020 4,56x
Capitalization 39 535 M
Chart BANK OF NEW YORK MELLON (THE)
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Bank of New York Mellon (The) Technical Analysis Chart | MarketScreener
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Technical analysis trends BANK OF NEW YORK MELLON (T
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 23
Average target price 46,79  $
Last Close Price 41,94  $
Spread / Highest target 35,9%
Spread / Average Target 11,6%
Spread / Lowest Target -11,8%
EPS Revisions
Managers
NameTitle
Charles William Scharf Chairman & Chief Executive Officer
Lester J. Owens Head-Operations & Senior Executive VP
Michael Santomassimo Chief Financial Officer
Bridget E. Engle Chief Information Officer & Senior Executive VP
Sabet Elias Chief Technology Officer
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