The Bank of New York Mellon Corporation (NYSE:BK) financial products and services provider, is expected to report third quarter earnings results, before market open, on Friday 16th October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 0.94 per share.
Looking ahead, the full year income are expected at $ 3.86 per share on the revenues of $ 15765.30 million.
Previous Quarter Performance
The Bank of New York Mellon Corporation revealed income for the second quarter of $ 1.01 per share, from the revenue of $ 4,010.00 million. The quarterly revenues grew 2.19 percent compared with the same quarter last year. The consensus estimates are income of $ 0.91 per share from $ 3890.78 million in revenue. The bottom line results beat street analysts by $ 0.1 or 10.99 percent, at the same time, top line results outshined analysts by $ 119.22 million or 3.06 percent.
Stock Performance
Shares of The Bank of New York Mellon Corporation traded up $ 0.64 or 1.75 percent on Thursday, reaching $ 37.23 with volume of 8.02 million shares. The Bank of New York Mellon Corporation has traded high as $ 37.23 and has cracked $ 36.22 on the downward trend
According to the previous trading day, closing price of $ 37.23, representing a 38.60 % increase from the 52 week low of $ 26.40 and a 29.09 % decrease over the 52 week high of $ 51.60.
The company has a market capital of $ 32.98 billion and is part of the Financial Services sector and Asset Management industry.
Recent Analyst recommendations
- On 6th October 2020, maintained by UBS Group at Buy rating, with $ 41.00 target price.
- On 5th October 2020, maintained by Morgan Stanley at Underweight rating, with $ 38.00 target price.
- On 1st September 2020, maintained by Morgan Stanley at Underweight rating, with $ 42.00 target price.
Recent Stock Dividend Announcement
On July 15, 2020, the board of directors authorized quarterly dividend of $ 0.31 per share to holders of record as of the close of business on July 27, 2020, with payment date of August 7, 2020 and ex-dividend date on July 24, 2020.
Conference Call
The Bank of New York Mellon Corporation will be hosting a conference call at 8:00 AM eastern time on 16th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.bnymellon.com
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
