After hours: 6:26PM EDT
|Bid||41.71 x 1100|
|Ask||41.95 x 1300|
|Day's Range||41.91 - 42.58|
|52 Week Range||41.42 - 54.27|
|Beta (3Y Monthly)||0.99|
|PE Ratio (TTM)||10.91|
|Earnings Date||Oct 16, 2019|
|Forward Dividend & Yield||1.24 (2.90%)|
|1y Target Est||46.92|
NEW YORK , Aug. 13, 2019 /PRNewswire/ -- Michael Santomassimo, Chief Financial Officer, and Hani Kablawi, Chief Executive Officer of Global Asset Servicing and Chairman of Europe , Middle East and Africa ...
Investment company Rings Capital Management LLC (Current Portfolio) buys Bank of New York Mellon Corp, Wells Fargo during the 3-months ended 2019Q2, according to the most recent filings of the investment company, Rings Capital Management LLC. Continue reading...
Some of Central Florida's biggest employers have completed some of the largest office deals so far this year. Bethesda, Maryland-based Lockheed Martin (NYSE: LMT) and Walt Disney Co. (NYSE: DIS) inked office deals that were among the five largest in the Orlando area.
U.S. equity market outperformance persisted with real estate returns continuing to trail other asset classes NEW YORK , Aug. 7, 2019 /PRNewswire/ -- The BNY Mellon U.S. Master Trust Universe returned a ...
NEW YORK, Aug. 7, 2019 /PRNewswire/ -- BNY Mellon has appointed Daniel Tenengauzer Head of Markets Strategy & Insights and leader of its Aerial View market commentary platform, effective immediately. In his new role, Daniel will lead strategy efforts for BNY Mellon Markets, providing clients with original insights into the world's asset and currency flows, informed by the firm's unique role at the center of global financial system. Boasting more than 20 years of cross-asset experience on both the buy and sell sides, Daniel is a seasoned global macro researcher with unparalleled knowledge of international markets, informed by lengthy periods working on four continents.
The certificates are collateralized by a single fixed-rate loan (the "CMBS loan") secured by the borrower's leasehold interest in the Bank of America Tower at One Bryant Park (the "property"), a 2.4 million SF, 51-story, Class A office property located in Midtown Manhattan. The property is well located across the street from Bryant Park at the northwest corner of 42nd Street and Sixth Avenue.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here.One of the Federal Reserve’s goals for its first rate cut in a decade was to lift the market’s sights on inflation. The initial reactions look not just disappointing for policy makers but near-disastrous.Market measures of inflation moved higher only briefly following the quarter-point reduction Wednesday, and have been sliding since. The accompanying decline in long-dated Treasury yields reflects investors’ suspicions that the Fed’s action -- which Chairman Jerome Powell said wasn’t the start of a prolonged period of easing -- won’t be enough to protect U.S. growth.“I think that the Fed has to be pretty worried about the response,” said Eric Patlovich, a fixed-income portfolio manager at New Century Advisors. “It screams policy error where you see the flattening of the curve, you see inflation expectations continuing to come down. That’s just markets telling the Fed they’re going to force its hand into cutting more.”The pressure on the Fed only intensified Thursday afternoon, when President Donald Trump escalated his trade war with China by tweeting out a plan to add new tariffs on $300 billion of imports. In the aftermath, inflation expectations took another leg down and the two-year Treasury caught a wave of buying as investors piled back into positioning for lower interest rates.The 10-year breakeven rate, a gauge of where the market thinks consumer price inflation is headed over the coming decade, has fallen 7.7 basis points from its level just before the Fed’s decision, reaching 1.70%. The Fed has a 2% inflation target. The move reverses much of the modest upward trend in the weeks before the Fed’s July 30-31 meeting, when traders entertained the prospect of a larger, half-point cut.The tariff tweet Thursday afternoon whipsawed the Treasury market, as investors positioned for another Fed easing. The two-year yield’s post-Fed rise swiftly reversed, taking the level to its lowest point since November 2017. The 10-year yield pushed down to 1.89%, reflecting market concerns that the Fed’s actions might not be enough to avert a trade-related hit to global growth.“When tariff tweets go out, inflationary expectations dive,” said John Velis, an FX and macro strategist at Bank of New York Mellon. “This underscores the effect that trade uncertainty has on the demand outlook.”New Century’s Patlovich says he expects that policy makers will have to take further action before long, whether it’s a cut in September or December. In his view, ultimately, “the Fed decides when to hike and the market decides when to cut.”(Adds Trump’s new tariffs in 4th paragraph and updates prices)\--With assistance from Alyce Andres.To contact the reporter on this story: Emily Barrett in New York at email@example.comTo contact the editors responsible for this story: Benjamin Purvis at firstname.lastname@example.org, Nick Baker, Mark TannenbaumFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Accounting firm KPMG has been fined 3.5 million pounds ($4.24 million) by Britain's accounting watchdog for failing to audit client accounts of BNY Mellon bank properly, the latest in a string of penalties on KPMG for poor performance. The Financial Reporting Council (FRC) said on Thursday that in 2011, BNY Mellon held more than a trillion pounds in assets on behalf of its customers, which under "CASS" safekeeping rules must be audited to ensure the assets are being kept safe. KPMG and Richard Hinton, who signed the client assets report on behalf of KPMG, admitted misconduct, the FRC said.
NEW YORK , July 31, 2019 /PRNewswire/ -- BNY Mellon will report financial results for the third quarter 2019 on Wednesday, October 16, 2019 . Materials will be posted to BNY Mellon's website at approximately ...
Rating Action: Moody's assigns provisional ratings to three classes of Second Priority Liberty Revenue Refunding Bonds, Series 2019. Global Credit Research- 31 Jul 2019. $650.0 million of structured securities ...
With a centuries old history, BNY Mellon can still attract and retain its clients the old fashioned way, while growing this company to gigantic proportions.
For the major and regional bank stocks, this quarter so far was truly a mixed bag. Digging into their numbers, it really was a two-sided coin.Source: Shutterstock One the one hand, we had several banks win on a variety of fronts, while many others suffered under the weight of lower trading revenues. And with the Fed starting to cut rates, it's certainly a difficult environment to select just which bank stocks have the goods to keep it going.But investors do have some incentive to do just that.InvestorPlace - Stock Market News, Stock Advice & Trading TipsFor one thing, dividend growth among the bank stocks has been top-notch. Over the last few years, as the economy has become stable, the major bank stocks have become very well-capitalized. That has allowed the Fed to approve shareholder reward programs. Dividends have returned to pre-recession yields and buyback activity remains swift. Meanwhile, the bank stocks are bargain-basement cheap -- with the Financial Select Sector SPDR Fund (NYSEArca:XLF) currently going for just a P/E of 12.With that, it makes sense to take a look at big bank stocks for your portfolio. We just have to be a bit selective in which firms we choose. Under that lens, here are three big bank stocks worthy of buying today. Bank of America (BAC)Bank of America (NYSE:BAC) is a prime example of how the mixed earnings picture was for major bank stocks this quarter. On the surface, BAC's reported earnings were disappointing, especially when compared to many of its rivals. The firm just barely beat profit estimates and only matched what analysts had hoped for in terms of revenues.However, BAC actually won the quarter when it comes to the bank stocks. For starters, the firm's efficiency ratio and return on assets for the quarter were stellar. In fact, comparing Bank of America to other top banks, it was the most profitable of its peer group.The reason comes down to its consumer and wealth management divisions. BAC continues to see some real growth among consumer clients. Deposits jumped more than 6% on the quarter, and the bank continues to see robust loan growth. Again, both fronts were better than many of its rivals. Moreover, its hefty spending on digital and fintech apps and additions are starting to pay off with consumer clients.Then there is the "Thundering Herd" to consider. BAC's Merrill Lynch is also paying some serious dividends to the bank's bottom line. Merrill brought in more than $11 billion in revenues -- a gain of 11% year-over-year -- as cross-selling and new client relationships surged.The point is, BAC is seeing real growth in several key areas. And the firm is sharing that growth with its shareholders. Thanks to these improved results, Bank of America was recently able to up its dividend by a whopping 20%.With a 2.34% yield, BAC stock could be one of the best bank stocks to buy on the recent quarter. U.S. Bank (USB)When it comes to the big banks, U.S. Bank (NYSE:USB) gets lost in the shuffle. The reason comes down to the firm's consistency. USB is boring. There's no "Vampire Squid"-styled dealings like Goldman Sachs (NYSE:GS) or rock-star CEO like J.P. Morgan (NYSE:JPM). The firm has largely avoided riskier portions of the banking sector such as mezzanine debt or property trading. It just churns out steady deposit and loan growth.And it did so again this quarter -- beating estimates on both revenues and net income. Meanwhile, unlike many of the banks reporting this quarter, U.S. Bank didn't feel such huge pressures to its critical net interest margins. The bank saw the spread between what it pays for deposits and what it can get for loans increased in both quarter-over-quarter and year-over-year numbers. Not many banks can say that. USB's boring focus is clearly paying benefits.But here's the thing: USB isn't actually boring. The firm is quickly becoming a fintech leader. U.S. Bank has looked towards apps, payments and other tech-driven assets to boost its revenues and profits. That includes closing branches but expanding into new areas via digital banking as well as online loan origination. Its new digital loan platform is seen as a huge win for the bank.All in all, USB could be a perfect stock to buy. You get the perfect blend of traditional "boring" banking mixed with a growing fintech portfolio. That's exactly what investors should want when it comes to the bank stocks. Bank of New York Mellon (BK)A 9% drop could be a great opportunity to snag shares of one of the better bank stocks out there. Like many firms in the sector, the Bank of New York Mellon (NYSE:BK) was hit hard on its latest quarter. The culprit? Falling net interest margins. Investors didn't like what they saw and sold BK shares hard.However, that drop may not be justified. It's still a stock to buy.The thing is, BK isn't like your normal bank. It doesn't serve you or me. We can't just go into a branch and open a checking account. The Bank of New York (BNY) is what's called a custodian bank. Other banks, corporations, asset managers and high-net-worth individuals use BNY to execute and process trades, service investments, safe-keep assets and provide liquidity and credit services. By nature, its net interest margins are never as good as Bank of America or other banks.And on that front, the bank did manage to deliver. It's Pershing brokerage services division saw a 1% jump in revenues, while clearance and collateral division saw a big 6% jump in quarter-over-quarter revenues. At the end of the day, the Bank of New York managed to see a big 7% jump in quarter-over-quarter in earnings per share.With BK still delivering on what it does best, now could be a great time for investors to use the drop and load up on the top-notch bank. They'll collect an ever-growing dividend while they wait.At the time of writing, Aaron Levitt did not hold a position in any stock mentioned. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Semiconductor Stocks to Buy for Your Inner Geek * 7 Stocks to Buy That Save You Money * 4 Stocks to Sell Now The post 3 Big Bank Stocks to Buy Today appeared first on InvestorPlace.
Daley, who was also Bill Clinton’s commerce secretary, bought more than half a million dollars of the bank’s stock a month after he was named its vice chairman.
Lower expenses (driven by cost saving efforts) support State Street's (STT) Q2 earnings. However, decline in revenues act as a headwind.
Warren Buffett, chairman and CEO of Berkshire Hathaway (BRK.B), is renowned for his ability to find bargains, but with markets at record highs, cheap stocks are getting tougher and tougher to find.That's true even within Berkshire Hathaway's own portfolio.Indeed, several Buffett stocks have gained some froth of their own. Many, however, still look plenty cheap for new money. After looking at where shares trade relative to expected earnings, in comparison to their own historical valuations, and vs. the Standard & Poor's 500-stock index, numerous Berkshire Hathaway holdings still appear downright cheap.We sorted through all 48 stocks in the Berkshire portfolio to find the biggest bargains left standing after the market's amazing run so far in 2019. Here are the cheapest Warren Buffett stocks right now. SEE ALSO: The Berkshire Hathaway Portfolio: All 48 Buffett Stocks Explained
BNY Mellon is staying the course with its drive for increased efficiency and that means job cuts remain part of the strategy to offset technology and product investments. “This includes eliminating unnecessary management layers across every area of the firm, from staff to sales to operations, automating processes which are today manual and rethinking the flow of activity between us and our clients,” chairman and CEO Charlie Scharf told financial analysts during BNY Mellon’s second-quarter earnings call on Wednesday. BNY Mellon (NYSE:BK) reported net income applicable to common shareholders of $969 million, down 8% from a year ago, and diluted earnings per common share of $1.01, down 2% from the second quarter of 2018.