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Higher fee income and solid improvement in AUM and AUC/A balances drive BNY Mellon's (BK) Q1 earnings. On the other hand, lower NIR and a rise in expenses act as spoilsports.
The Bank of New York Mellon Corporation (NYSE:BK ) Q1 2024 Earnings Conference Call April 16, 2024 11:00 AM ET Company Participants Marius Merz - Head of Investor Relations Robin Vince - President and Chief Executive Officer Dermot McDonogh - Chief Financial Officer Conference Call Participants Alex Blostein - Goldman Sachs Steven Chubak - Wolfe Research Betsy Graseck - Morgan Stanley Ebrahim Poonawala - Bank of America Securities Brennan Hawken - UBS Mike Mayo - Wells Fargo Securities Glenn Schorr - Evercore ISI Gerard Cassidy - RBC Capital Markets David Smith - Autonomous Research Brian Bedell - Deutsche Bank Ken Usdin - Jefferies Operator Good morning and welcome to the 2024 First Quarter Earnings Conference Call hosted by BNY Mellon. At this time, all participants are in a listen-only mode.
CNBC's Leslie Picker sits down with Bank of New York Mellon CEO, Robin Vince, to discuss potential rate cuts, macro outlooks, and more.
The Bank of New York Mellon (BK) posted better-than-expected results as the oldest U.S. bank reported higher investment services fees. It also boosted its stock buyback program.
Although the revenue and EPS for The Bank of New York Mellon (BK) give a sense of how its business performed in the quarter ended March 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
An increase in fee income and solid improvement in AUM and AUC/A balances support BNY Mellon's (BK) Q1 earnings, while lower NIR and a rise in expenses act as undermining factors.
The Bank of New York Mellon Corporation (BK) came out with quarterly earnings of $1.29 per share, beating the Zacks Consensus Estimate of $1.19 per share. This compares to earnings of $1.13 per share a year ago.
BNY Mellon (BK) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.
We have narrowed our search to five large-cap stocks that are poised to beat on earnings results this week. These are: BAC, JNJ, UAL, PNC, BK.
Despite high rates and decent loan growth, BNY Mellon's (BK) interest income is expected to have declined in the first quarter of 2024 due to higher deposit costs.