UPDATE: Bank of New York Mellon Posts Higher Q4 Profit
Bank of New York Mellon (NYSE: BK) reported a rise in its fourth-quarter net income.
Bank of New York Mellon's quarterly profit surged to $613 million, or $0.53 per share, versus $500 million, or $0.42 per share, in the year-ago quarter.
Analysts were expecting earnings of $0.53 per share. The net interest margin declined to 1.09% from 1.27%.
Bank of New York Mellon shares closed at $26.78 yesterday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.