Revenue Update on Bank of New York Mellon Corp(NYSE:BK)

Bank of New York Mellon Corp(NYSE:BK) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 21, 2016. Company reported revenue of $3.77B. Analysts estimated a revenue of $3.79B. Earnings per share were $0.76. Analysts had estimated an EPS of $0.75.

In a different note, On Jul 11, 2016, Jefferies said it Maintains its rating on Bank of New York Mellon Corp. In the research note, the firm Lowers the price-target to $41.00 per share. The shares have been rated ‘Hold’ by the firm. On Jun 16, 2016, Deutsche Bank said it Maintains its rating on Bank of New York Mellon Corp. In the research note, the firm Lowers the price-target to $50.00 per share. The shares have been rated ‘Buy’ by the firm. On May 27, 2016, Deutsche Bank said it Maintains its rating on Bank of New York Mellon Corp. In the research note, the firm Raises the price-target to $49.00 per share. The shares have been rated ‘Buy’ by the firm.

Bank of New York Mellon Corp (BK) made into the market gainers list on Wednesdays trading session with the shares advancing 0.76% or 0.3 points. Due to strong positive momentum, the stock ended at $40.01, which is also near the day’s high of $40.03. The stock began the session at $40 and the volume stood at 48,15,397 shares. The 52-week high of the shares is $45.45 and the 52 week low is $32.2. The company has a current market capitalization of $43,094 M and it has 1,07,70,82,630 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On May 23, 2016, Gerald L Hassell (Chairman & CEO) sold 24,598 shares at $40.76 per share price.Also, On May 16, 2016, Thomas P Gibbons (Vice Chairman & CFO) sold 376,054 shares at $39.78 per share price.On May 6, 2016, Karen B Peetz (President) sold 65,000 shares at $39.24 per share price, according to the Form-4 filing with the securities and exchange commission.

The Bank of New York Mellon Corporation is a provider of financial products and services in domestic and international markets. Through its two principal businesses Investment Management and Investment Services it serves institutions corporations and high net worth individuals. For institutions and corporations it provides investment management trust and custody foreign exchange fund administration global collateral services securities lending depositary receipts corporate trust global payment/cash management banking services and clearing services. For individuals it provides mutual funds separate accounts wealth management and private banking services. BNY Mellon’s investment management businesses provide investment products in different asset classes and investment styles. The Company has $28.5 trillion in assets under custody and/or administration and $1.7 trillion in assets under management as of December 31 2014.

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