|Bid||52.50 x 2200|
|Ask||0.00 x 900|
|Day's range||56.51 - 57.49|
|52-week range||49.01 - 58.99|
|PE ratio (TTM)||14.37|
|Earnings date||18 Jul 2018 - 23 Jul 2018|
|Forward dividend & yield||0.96 (1.69%)|
|1y target est||60.66|
Bank of New York Mellon Corp. plucked the new chief executive officer of its wealth management unit from the world of nonprofit investing. Catherine Keating joins BNY Mellon on July 9, the New York-based bank said Thursday in a statement. Commonfund named Mark Anson, its chief investment officer, to replace Keating, the Wilton, Connecticut firm, said Thursday in a separate statement.
One of the most difficult industry to value is capital markets, given that they adhere to different rules compared to other companies. Asset managers, for example, must hold certain levelsRead More...
Kazakhstan’s government is asking an appeals court to throw out a decision that allowed BNY Mellon to freeze about $22 billion of assets in the country’s oil fund as part of a dispute over an unpaid arbitration award. BNY Mellon says it is required to freeze the assets because of Belgian and Dutch court orders, while lawyers for Kazakhstan say that deposits held at an English branch of an international bank should be subject to British courts, and that the U.K. bank shouldn’t recognize the foreign orders. The frozen assets make up about 40 percent of Kazakhstan’s total sovereign wealth fund.
BlackRock (BLK) stock has risen 12.5% over the past six months and 36.3% over the past year, helped by inflows in its iShares and Retail offerings. In comparison, the S&P 500 ETF (SPY) has risen 13.0% over the past year. BlackRock’s performance in 2018 is expected to be impacted by high equity valuations, faster rate hikes, and global issues such a potential trade wars and relations with North Korea. In 2017, the company added record new flows of $367.0 billion, or ~6.0% of its total AUM (assets under management) of $6.3 trillion.
Analysts expect subdued returns for non-diversified asset managers (XLF) in 2018 compared to 2017. This trend is primarily due to high valuations of equities, rising interest rates, and shifting of funds toward commodities that result in higher input prices.
This growth is expected to come from ETFs and its Retail segment’s offerings, partially offset by weaker performance in the Institutional segment. ETFs are expected to see subdued flows due to outflows from debt in the first quarter.
BlackRock (BLK) is giving consistent returns to shareholders in the form of dividends and repurchases backed by consistent operating performance. The company declared a quarterly dividend of $2.88 in the first quarter compared to $2.50 in the first quarter of 2017, forming an annualized yield of 2.2%. The Trump administration’s tax cuts are expected to help equities command higher premiums as well as a long-term shift toward equities rather than debt offerings.
BNY Mellon (BK) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
NEW YORK, May 10, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of Amkor ...
Ireland expects to have completed collecting the disputed taxes the EU is demanding from Apple (AAPL) by the end of 3Q18. The EU is demanding that Ireland recovers nearly $16 billion in alleged unpaid taxes from Apple. The EU’s tax claim is based on a 2016 ruling by the European Commission that Ireland extended unfair tax incentives to Apple.
Despite the tax dispute between Apple (AAPL) and the EU (European Union), which has received a lot of press coverage recently, Apple has been a big boost to Europe’s economy. According to a report released recently by the IMF (International Monetary Fund), iPhone sales accounted for as much as a quarter of Ireland’s economic growth in 2017. The Irish economy grew 7.8% in 2017, and it’s projected to grow 4.5% in 2018 and 4.0% in 2019.
Of the 19 analysts covering TD Ameritrade (AMTD) in April 2018, seven have recommended “strong buy,” five have recommended “buy,” six have recommended “hold,” and one has recommended “strong sell.” In March 2018, eight analysts recommended “strong buy,” three recommended “buy,” seven recommended “hold,” and one recommended “strong sell.”
Snap-On (SNA), which designs, manufactures, and markets high-end tools and equipment for professional use in the transportation industry, was the S&P 500’s second-best performer on April 19. After declining for two weeks, Snap-On started this week on a mixed note and declined as the week progressed. However, Snap-On opened higher on Thursday and surged to four-week high price levels.
The S&P 500’s top gainers on April 19 were: American Express (AXP) gained 7.6%. Snap-On (SNA) gained 6.2%. Bank of New York Mellon (BK) gained 5.7%. W.W. Grainger (GWW) gained 5.3%. KeyCorp (KEY) gained 3.6%. American Express
BNY Mellon's (BK) Q1 results benefit from higher revenues and provision benefits. Yet, rise in costs lies as the undermining factor.
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Bank of New York Mellon Corp. Chief Executive Officer Charles Scharf should be able to keep his doubters at bay -- at least for awhile. Scharf, who is under pressure to show his bank can generate organic growth, delivered $4.2 billion in revenue in the first quarter, a 9 percent expansion over the prior year’s period, which exceeded analyst expectations, according to an earnings report Thursday. The revenue results, which were driven by year-over-year increases in stock prices and higher interest rates, helped boost BNY Mellon’s shares to their biggest gain since November 2016.
The economic and earnings calendars on Thursday should be fairly quiet, as investors continue to focus on the Treasury yield curve, which some fear is signaling recession.
Major banks' Q1 earnings are expected to be driven by higher interest rates and decent loan growth. Also, a slight improvement in fee income will likely provide some support.
Expectation of a rise in fee revenues should aid BNY Mellon's (BK) top-line growth in Q1. Also, loan growth along with higher rates is likely to drive net interest revenue growth.