The Bank of New York Mellon Corporation (BK) has been making noteworthy progress recently, with
Q3 2024 earnings exceeding estimates and showcasing strong revenue growth. The key driving force is higher revenues and their successful obligation to increase fee income by 5%, setting a new record in assets under custody, now exceeding
$50 trillion. The bank reported
double-digit annual earnings growth and an
EPS of $1.50 that beat estimates, while the top-line rose to
$4.648 billion. BK also declared a quarterly common stock dividend to be paid in November 2024. The firm received SEC's approval to offer an ETF Crypto Custody Service and was upgraded to a
'strong buy' and is outperforming its finance peers this year. Insights into the financial bank also noted a high institutional ownership which signals positive market sentiment. However, BK insiders sold US$10m of stock which might signal caution.
Bank of New York Mellon Corporation BK News Analytics from Fri, 16 Feb 2024 17:54:52 GMT to Sat, 12 Oct 2024 12:20:54 GMT -
Rating 8
- Innovation 4
- Information 7
- Rumor -2
