BK Stock Recent News

The Bank Of New York Mellon Corporation BK posted better-than-expected third-quarter results on Friday.

Ebrahim Poonawala, Bank of America Securities senior analyst, joins 'Closing Bell Overtime' to talk bank earnings and what to expect form next week's slate of earnings.

The headline numbers for The Bank of New York Mellon (BK) give insight into how the company performed in the quarter ended September 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Clients at the world's biggest custodian bank, BNY, sold British government bonds in September at the fastest pace since the gilts crisis in 2022, in a potential sign of investor nerves ahead of the new Labour government's budget later this month.

The Bank of New York Mellon Corporation (BK) came out with quarterly earnings of $1.52 per share, beating the Zacks Consensus Estimate of $1.41 per share. This compares to earnings of $1.27 per share a year ago.

NEW YORK , Oct. 11, 2024 /PRNewswire/ -- The Bank of New York Mellon Corporation ("BNY") (NYSE: BK), a global financial services company, today announced that its Board of Directors declared dividends on its common and preferred stock as follows: Common – a quarterly common stock dividend of $0.47 per share, payable on November 1, 2024 to shareholders of record as of the close of business on October 21, 2024. Preferred – the following dividends for the noncumulative perpetual preferred stock, liquidation preference $100,000 per share, for the dividend period ending in December 2024, in each case payable on December 20, 2024 to holders of record as of the close of business on December 5, 2024: $1,425.70 per share on the Series A Preferred Stock (equivalent to $14.257021 per Normal Preferred Capital Security of Mellon Capital IV, each representing a 1/100th interest in a share of the Series A Preferred Stock); $925.00 per share on the Series H Preferred Stock (equivalent to $9.250000

NEW YORK--(BUSINESS WIRE)--BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (the "Fund") today announced that the Fund's Board of Directors has approved the Fund's quarterly tender offer (the "Tender Offer") with the following terms:   Number of Shares 2.5% of the Fund's outstanding shares as of September 30, 2024 Commencement Date October 16, 2024 Expiration Date and Time November 13, 2024 at 5:00 p.m. Eastern Time, unless otherwise extended Price Net asset value per share determine.

Shares of Bank of New York Mellon have surged 75% in the past year, driven by a high-rate environment and strong equity markets. Despite solid Q2 results and strong expense discipline, BK's valuation appears expensive versus peers, raising concerns about further multiple expansion. Key focus areas for Q3 earnings include margin expansion, deposit cost trends, investment management strategy, and capital returns via dividends and buybacks.

BK's fee revenues are likely to have aided third-quarter 2024 earnings, while a fall in net interest revenues is likely to have hurt the same.

High funding costs and poor asset quality will hurt Zacks Major Regional Banks. Yet, interest rate cuts, modest loan demand, decent economic growth and business restructuring efforts are likely to aid industry players like JPM, USB, TFC and BK.