Bank of New York Mellon Corporation (BK) achieved a new 1-year high following an analyst upgrade. The company's
quarterly dividend of $0.47 and its status as a top dividend stock made it a favorite in the portfolio of investors. The bank's Q4 2024 earnings were lifted significantly by
interest income and a stark
rise in fee and AUM income, leading to an 8% surge in stock. The
Positive forecasts by Evercore ISI and Morgan Stanley also contributed to the upswing. However, insiders sold US$13m of BK's stock, hinting at potential weakness. The performance attracted several investments, with institutions like
Avanza Fonder AB and
Relyea Zuckerberg Hanson LLC making significant acquisitions. The company reported robust Q4 results due to higher income streams, thus surpassing revenue estimates at $4.8 billion. Several organizations increased their share values in BK, attributing the decision to the company's strong financial performance.
BNY Mellon Corporation's financial statement showed a significant 49% surge in 2024, with EPS of $1.54 in Q4. BK's Stock benefitted from a series of favorable reviews by experts acknowledging its fantastic financial performance and strong growth possibilities.
Bank of New York Mellon Corporation BK News Analytics from Wed, 21 Aug 2024 07:00:00 GMT to Sat, 18 Jan 2025 15:55:57 GMT -
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