Bank of New York Mellon Stock (NYSE:BK), Trade Ideas

Bank of New York Mellon

BNY Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with $47.8 trillion in under custody or administration (as of Dec. 31, 2023), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investments. BNY Mellon's asset-management division manages about $2.0 trillion in assets.

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Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.

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Bank of New York Mellon shares rise in premarket trading after reporting Q1 results beating expectations.

What&#39;s Going On With Bank Of New York Mellon Shares After Reporting Q1 Results?

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BNY Mellon and Accenture forge a formidable alliance to innovate financial services through pioneering data strategies, while Wall Street watches.

Wall Street Behemoths BNY Mellon &amp; Accenture Join Forces to Revolutionize Financial Services Through Data Innovation

The Bank of New York Mellon Corporation Common Stock

Bank of New York Mellon Corp

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BNY Mellon Core Bond ETF

BANK OF AYUDHYA PCL NVDR by Bank of Ayudhya Public Co. Ltd.

Bank Of Ayudhya PCL

BANK ALADIN SYARIAH TBK by Bank Aladin Syariah TBK PT

PT Bank Aladin Syariah Tbk

BROOKFIELD CORP PFD A 30 by BROOKFIELD CORP.

Brookfield Corp

BANK OF AYUDHYA PCL ADR by Bank of Ayudhya Public Co. Ltd.

Pipestone Energy Corp

MAGNETIC NRTH ACQUISITION by Magnetic North Acquisition Corp.

Magnetic North Acquisition Corp

BlackRock Capital Investment Corp Com

Global X Blockchain ETF

BNY Mellon ETF Trust BNY Mellon Concentrated International ETF

BANK CYPRUS HLDGS ORD by Bank Cyprus Hldgs Pub Ltd Co

Bank of Cyprus Holdings PLC

Brookdale Senior Living Inc. Common Stock

Brookdale Senior Living Inc

Brookdale Senior Living Inc. 7.00% Tangible Equity Units

Buckle Inc

BANK OF EAST ASIA LTD REG by Bank of East Asia Limited

Bank of East Asia Ltd

BANK OF EAST ASIA S/ADR by Bank of East Asia Limited

BROOKFIELD CP PF AA SR EE by Brookfield Office Properties Inc.

BNY Mellon Emerging Markets Equity ETF

BAKKEN ENERGY CORP by Bakken Energy Corp.

Bakken Energy Corp

BNY Mellon ETF Trust Sustainable Global Emerging Mkts ETF

BANCO ESPIRTO SNTO UN/ADR by Banco Espirto Santo E

Banco Espirito Santo SA

iShares MSCI BIC ETF

BANK OF COMMUNS CO CHINA by Bank of Communications Co. Ltd.

Bank of Communications Co Ltd

BROOKFIELD CP PREF A 40 by BROOKFIELD CORP.

BKF CAPITAL GROUP INC by BKF Capital Group, Inc.

BKF Capital Group Inc

Bakkafrost P/F

BANKFLORIDA BANCORP INC by BankFlorida Bancorp, Inc.

BankFlorida Bancorp Inc

BROOKFIELD CP PREF A 34 by BROOKFIELD CORP.

BROOKFIELD CP PREF A 51 by BROOKFIELD CORP.

BROOKFIELD RENWBLE A SR 3 by BROOKFIELD RENEWABLE PWR PFD EQUITY INC

Brookfield Renewable Power Preferred Equity Inc

BERKELEY GROUP HLDGS NEW by Berkeley Group Holdings Plc.

Berkeley Group Holdings (The) PLC

BERKELEY GRP HLD UNSP/ADR by Berkeley Group Holdings Plc.

BOOKTOPIA GROUP LTD by BOOKTOPIA GROUP LTD

Booktopia Group Ltd

BNY Mellon ETF Trust BNY Mellon Global Infrastructure Income ETF

BANKGUAM HOLDING CO by BankGuam Holding Company

BankGuam Holding Co

Black Hills Corp

Black Hawk Acquisition Corporation

Black Hawk Acquisition Corporation - Units

Black Hawk Acquisition Corp

BANK HAPOLAM BM ORD by Bank Hapoalim B.M.

Bank Hapoalim BM

BANK HAPOALIM B.M.ADR144A by Bank Hapoalim B.M.

BNY Mellon High Yield Beta ETF

BANK HAPOALIM B.M. S/ADR by Bank Hapoalim B.M.

BNY Mellon International Equity ETF

Bankinter SA

Black Iron Inc

BNY Mellon ETF Trust Sustainable Intl Equity ETF

BNY Mellon Innovators ETF

BANK JINZHOU CO LTD U/ADR by Bank Jinzhou Co Ltd.

BANGKOK BANK UNSP/ADR by Bangkok Bank Public Co Ltd.

Bangkok Bank PCL

BANGKOK BK PUBLIC CO LTD by Bangkok Bank Public Co Ltd.

Bakkt Holdings, Inc. Class A Common Stock

Bakkt Holdings Inc

BAKKAVOR GROUP PLC by Bakkavor Group Plc.

Bakkavor Group PLC

BANGKOK EXPWY & METRO PUB by Bangkok Expwy & Metro Pub Co Ltd

Bangkok Expressway and Metro PCL

BNY Mellon US Large Cap Core Equity ETF

BLOCKMINT TECHNOLOGIES by Blockmint Technologies

Blockmint Technologies Inc

CYPHER METAVERSE INC by CYPHER METAVERSE INC.

Invesco Senior Loan ETF

BUKALAPAK.COM PT TBK by BUKALAPAK.COM PT TBK

PT Bukalapak.com Tbk

BERKELEY ENERGY LTD by Berkeley Energy Ltd.

Berkeley Energia Ltd

BNY Mellon US Mid Cap Core Equity ETF

Bekem Metals Inc

BARKER MINERALS LTD by Barker Minerals Ltd.

Barker Minerals Ltd

BLACKOUT MEDIA CORP by Blackout Media Corp.

Blackout Media Corp

BlackRock Investment Quality Municipal Trust Inc. (The)

Blackrock Investment Quality Municipal Trust, Inc.

Booking Holdings Inc

BROOKFIELD OFCE PR II AAA by Brookfield Office Properties Inc.

OAK RIDGE FINCL SVCS INC by Oak Ridge Financial Services, Inc.

Oak Ridge Financial Services Inc

BANK POLSKA KASA SA ORD by Bank Polska Kasa Opieki

Bank Polska Kasa Opieki SA

PT BUKALAPAK UNSP/ADR by BUKALAPAK.COM PT TBK

BANK OF QUEENSLAND LTD by Bank of Queensland Ltd.

Bank of Queensland Ltd

BANK OF QUEENSLAND UN/ADR by Bank of Queensland Ltd.

Baker Hughes Co

BUNKA SHUTTER CO ORD by Bunka Shutter Co.

Bunka Shutter Co Ltd

BANK IRELAND GRP EUR1 ORD by Bank Ireland Group PLC

Bank of Ireland Group PLC

BANK IRELAND GRP UNSP/ADR by Bank Ireland Group PLC

PT Bank Rakyat Indonesia (Persero) Tbk

BLACK ROCK PETROLEUM CO by Black Rock Petroleum Company

Black Rock Petroleum Co

BLACKROCK SILVER CORP by Blackrock Silver Corp.

Blackrock Silver Corp

BKRW - United States Dollar

BANK OF SO CAROLINA CORP by Bank of South Carolina Corp.

Bank of South Carolina Corp

BLUEPRINT TECHS INC by Blueprint Technologies, Inc.

Blueprint Technologies Inc

BNY Mellon US Small Cap Core Equity ETF

BERKSHIRE HOMES INC by Berkshire Homes, Inc.

Berkshire Homes Inc

BANKS IS GOLD LTD ORD by Banks IS Gold Ltd

Banks Island Gold Ltd

B.K.S.S. Real Estate Corp

BLACKROCK SMALLER CO TRST by BLACKROCK SMALLER COMPANIES TRUST PLC

BlackSky Technology Inc. Class A Common Stock

BlackSky Technology Inc

BlackSky Technology Inc. Redeemable Warrants, each whole Warrant exercisable for one share of Class A Common Stock

Blackrock Income Trust Inc

Jefferies analyst Ken Usdin maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a Buy and raises the price target from $67 to $68.

Jefferies Maintains Buy on Bank of New York Mellon, Raises Price Target to $68

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-ratings/">analyst ratings page</a>.
<ul>
<li>HC Wainwright &amp; Co. cut the price target for Unity Biotechnology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ubx#NASDAQ">UBX</a>) from $10 to $8. HC Wainwright &amp; Co. analyst Andrew Fein maintained a Buy rating. Unity Biotechnology shares gained 1.3% to close at $1.52 on Tuesday. <a href="https://www.benzinga.com/quote/UBX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>TD Cowen slashed the price target for Amgen Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amgn#NASDAQ">AMGN</a>) from $370 to $360. TD Cowen analyst Yaron Weber maintained the stock with a Buy rating. Amgen shares rose 0.1% to close at $265.64 on Tuesday. <a href="https://www.benzinga.com/quote/AMGN/analyst-ratings">See how other analysts view this stock.</a></li>
<li>B of A Securities cut Johnson &amp; Johnson (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jnj#NYSE">JNJ</a>) price target from $180 to $170. B of A Securities analyst Geoff Meacham maintained a Neutral rating. Johnson &amp; Johnson shares fell 2.1% to close at $144.45 on Tuesday. <a href="https://www.benzinga.com/quote/JNJ/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Morgan Stanley raised the price target for Antero Resources Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ar#NYSE">AR</a>) from $26 to $36. Morgan Stanley analyst Devin McDermott upgraded the stock from Equal-Weight to Overweight. Antero Resources shares gained 0.4% to close at $29.12 on Tuesday. <a href="https://www.benzinga.com/quote/AR/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stephens &amp; Co. slashed J.B. Hunt Transport Services, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jbht#NASDAQ">JBHT</a>) price target from $210 to $192. Stephens &amp; Co. analyst Justin Long maintained an Overweight rating. J.B. Hunt Transport shares fell 1.1% to close at $182.99 on Tuesday. <a href="https://www.benzinga.com/quote/JBHT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Truist Securities raised Strategic Education, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stra#NASDAQ">STRA</a>) price target from $110 to $125. Truist Securities analyst Tobey Sommer upgraded the stock from Hold to Buy. Strategic Education shares fell 0.6% to close at $96.71 on Tuesday. <a href="https://www.benzinga.com/quote/STRA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies lowered the price target for Urban Outfitters, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/urbn#NASDAQ">URBN</a>) from $42 to $32. Jefferies analyst Corey Tarlowe downgraded the stock from Hold to Underperform. Urban Outfitters shares fell 0.5% to close at $38.02 on Tuesday. <a href="https://www.benzinga.com/quote/URBN/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>RBC Capital cut Marinus Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrns#NASDAQ">MRNS</a>) price target from $24 to $3. RBC Capital analyst Brian Abrahams downgraded the stock from Outperform to Sector Perform. Marinus Pharmaceuticals shares fell 7.7% to close at $1.20 on Tuesday. <a href="https://www.benzinga.com/quote/MRNS/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird boosted Visa Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/v#NYSE">V</a>) price target from $314 to $320. Baird analyst David Koning maintained an Outperform rating. Visa shares rose 0.1% to close at $271.35 on Tuesday. <a href="https://www.benzinga.com/quote/V/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>B of A Securities raised The Bank of New York Mellon Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bk#NYSE">BK</a>) price target from $64 to $66. B of A Securities analyst Ebrahim Poonawala maintained a Buy rating. Bank of New York Mellon shares fell 2% to close at $54.00 on Tuesday. <a href="https://www.benzinga.com/quote/BK/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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5 analysts have expressed a variety of opinions on Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $62.4, a high estimate of $66.00, and a low estimate of $58.00. This current average has increased by 7.12% from the previous average price target of $58.25. 
<img src="https://www.benzinga.com/files/images/story/2024/1713355255_0.png" alt="price target chart" />
<h2>Investigating Analyst Ratings: An Elaborate Study</h2>
The analysis of recent analyst actions sheds light on the perception of Bank of New York Mellon by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Ebrahim Poonawala</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$66.00</td>
<td>$64.00</td>
</tr>
<tr>
<td>Glenn Schorr</td>
<td>Evercore ISI Group</td>
<td>Raises</td>
<td>In-Line</td>
<td>$61.00</td>
<td>$57.00</td>
</tr>
<tr>
<td>Gerard Cassidy</td>
<td>RBC Capital</td>
<td>Maintains</td>
<td>Sector Perform</td>
<td>$58.00</td>
<td>-</td>
</tr>
<tr>
<td>Keith Horowitz</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$65.00</td>
<td>$60.00</td>
</tr>
<tr>
<td>Betsy Graseck</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$62.00</td>
<td>$52.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Bank of New York Mellon. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Bank of New York Mellon compared to the broader market.</li>
<li>Price Targets: Understanding forecasts, analysts offer estimates for Bank of New York Mellon's future value. Examining the current and prior targets provides insight into analysts' changing expectations.</li>
</ul>
To gain a panoramic view of Bank of New York Mellon's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
<a href="https://www.benzinga.com/quote/BK/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Bank of New York Mellon analyst ratings.</a>
<h2>Delving into Bank of New York Mellon's Background</h2>
BNY Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with $47.8 trillion in under custody or administration (as of Dec. 31, 2023), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investments. BNY Mellon's asset-management division manages about $2.0 trillion in assets.
<h3>Bank of New York Mellon: Financial Performance Dissected</h3>
Market Capitalization Analysis: The company's market capitalization is above the industry average, indicating that it is relatively larger in size compared to peers. This may suggest a higher level of investor confidence and market recognition.
Revenue Growth: Bank of New York Mellon displayed positive results in 3 months. As of 31 December, 2023, the company achieved a solid revenue growth rate of approximately 13.96%. This indicates a notable increase in the company's top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Financials sector.
Net Margin: Bank of New York Mellon's net margin falls below industry averages, indicating challenges in achieving strong profitability. With a net margin of 3.64%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Bank of New York Mellon's ROE falls below industry averages, indicating challenges in efficiently using equity capital. With an ROE of 0.44%, the company may face hurdles in generating optimal returns for shareholders.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of 0.04%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: Bank of New York Mellon's debt-to-equity ratio is below the industry average at 0.87, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>Analyst Ratings: Simplified</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Expert Outlook: Bank of New York Mellon Through The Eyes Of 5 Analysts

B of A Securities analyst Ebrahim Poonawala maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a Buy and raises the price target from $64 to $66.

B of A Securities Maintains Buy on Bank of New York Mellon, Raises Price Target to $66

The Bank Of New York Mellon Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) shares are trading higher<a target="_blank" href="https://www.benzinga.com/premarket" rel="noreferrer noopener">&nbsp;in the premarket session on Tuesday.</a>
The finance behemoth reported first-quarter adjusted earnings per share of $1.29,<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">&nbsp;beating the street view of $1.19</a>.
Quarterly revenue of $4.527 billion&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38265726/bny-mellon-reports-first-quarter-2024-results" rel="noreferrer noopener">outpaced the analyst consensus of $4.388 billion</a>.
&#8220;In the first quarter, we delivered double-digit EPS growth as well as pre-tax margin and ROTCE expansion on the back of positive operating leverage,&#8221; said President and Chief Executive Officer Robin Vince.&nbsp;
Net interest income decreased 8%, primarily reflecting changes in balance sheet mix, partially offset by higher interest rates.&nbsp;
Total fee revenue in the quarter under review grew 5% year over year to $3.305 billion, while net interest income fell 8% to $1.04 billion.
Investment and other revenue increased in the quarter, primarily reflecting higher investment, <a href="https://www.benzinga.com/calendars/guidance">other trading and seed capital results. </a>
Noninterest expense of $3.2 billion increased 2% in the quarter under review, or 1% excluding notable items.
Provision for credit losses in the quarter under review totaled $27 million, primarily driven by reserve increases related to commercial real estate exposure.
The Bank Of New York Mellon reported average deposits of $279 billion, increasing 2% year over year and 2% sequentially.
The company said that the first-quarter tier 1 leverage ratio of 5.9% increased eight bps year over year and decreased seven bps sequentially. Pre-tax operating margin totaled 29% (or 30%, excluding notable items).
Dividend:&nbsp;The company declared&nbsp;a quarterly common stock dividend of $0.42 per share,&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38265741/bny-mellon-declares-dividends" rel="noreferrer noopener">payable on May 9, 2024</a>.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/04/38223366/wall-street-behemoths-bny-mellon-accenture-join-forces-to-revolutionize-financial-services-throu" rel="noreferrer noopener">Wall Street Behemoths BNY Mellon &amp; Accenture Join Forces to Revolutionize Financial Services Through Data Innovation</a>
Price Action: BK shares are trading higher by 2% to $56.19 premarket on the last check Tuesday.
Photo via Wikimedia Commons

What's Going On With Bank Of New York Mellon Shares After Reporting Q1 Results?

<h3>Companies Reporting Before The Bell</h3>
&bull; Traws Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TRAW#NASDAQ">TRAW</a>) is expected to report earnings for its fourth quarter.
&bull; Telefonaktiebolaget L M (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ERIC#NASDAQ">ERIC</a>) is estimated to report quarterly earnings at $0.05 per share on revenue of $5.34 billion.
&bull; Bank of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAC#NYSE">BAC</a>) is expected to report quarterly earnings at $0.77 per share on revenue of $25.45 billion.
&bull; PNC Finl Servs Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>) is projected to report quarterly earnings at $3.03 per share on revenue of $5.19 billion.
&bull; Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) is expected to report quarterly earnings at $1.19 per share on revenue of $4.38 billion.
&bull; Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) is likely to report quarterly earnings at $2.64 per share on revenue of $21.41 billion.
&bull; UnitedHealth Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) is projected to report quarterly earnings at $6.73 per share on revenue of $99.47 billion.
&bull; Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) is expected to report quarterly earnings at $1.68 per share on revenue of $14.43 billion.
&bull; Northern Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NTRS#NASDAQ">NTRS</a>) is projected to report quarterly earnings at $1.44 per share on revenue of $1.75 billion.
&bull; Commerce Bancshares (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CBSH#NASDAQ">CBSH</a>) is projected to report quarterly earnings at $0.80 per share on revenue of $390.36 million.
&bull; Mercantile Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBWM#NASDAQ">MBWM</a>) is likely to report quarterly earnings at $1.14 per share on revenue of $55.38 million.
<h3>Companies Reporting After The Bell</h3>
&bull; CXApp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CXAI#NASDAQ">CXAI</a>) is likely to report quarterly loss at $0.35 per share on revenue of $1.80 million.
&bull; Xcel Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XELB#NASDAQ">XELB</a>) is expected to report quarterly loss at $0.18 per share on revenue of $2.64 million.
&bull; Safe &amp; Green Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGBX#NASDAQ">SGBX</a>) is projected to report quarterly earnings at $0.00 per share on revenue of $11.47 million.
&bull; GameSquare Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GAME#NASDAQ">GAME</a>) is expected to report quarterly loss at $0.23 per share on revenue of $16.50 million.
&bull; Equity Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EQBK#NYSE">EQBK</a>) is projected to report quarterly earnings at $0.85 per share on revenue of $52.81 million.
&bull; Omnicom Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMC#NYSE">OMC</a>) is likely to report quarterly earnings at $1.54 per share on revenue of $3.62 billion.
&bull; JB Hunt Transport Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JBHT#NASDAQ">JBHT</a>) is estimated to report quarterly earnings at $1.59 per share on revenue of $3.16 billion.
&bull; Hancock Whitney (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HWC#NASDAQ">HWC</a>) is likely to report quarterly earnings at $1.18 per share on revenue of $357.17 million.
&bull; America Movil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMX#NYSE">AMX</a>) is projected to report quarterly earnings at $0.35 per share on revenue of $11.98 billion.
&bull; United Airlines Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) is likely to report quarterly loss at $0.56 per share on revenue of $12.43 billion.
&bull; Fulton Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FULT#NASDAQ">FULT</a>) is estimated to report quarterly earnings at $0.38 per share on revenue of $208.99 million.
&bull; Interactive Brokers Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IBKR#NASDAQ">IBKR</a>) is projected to report quarterly earnings at $1.60 per share on revenue of $1.18 billion.
&bull; Ontrak (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OTRK#NASDAQ">OTRK</a>) is projected to report earnings for its fourth quarter.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

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Earnings Scheduled For April 16, 2024

Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) reported quarterly earnings of $1.29 per share which beat the analyst consensus estimate of $1.19 by 8.4 percent. The company reported quarterly sales of $4.527 billion which beat the analyst consensus estimate of $4.388 billion by 3.17 percent. This is a 3.74 percent increase over sales of $4.364 billion the same period last year.

Earnings Beats

Bank of New York Mellon Q1 2024 Adj EPS $1.29 Beats $1.19 Estimate

Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) reported quarterly earnings of $1.25 per share which beat the analyst consensus estimate of $1.19 by 5.04 percent. The company reported quarterly sales of $4.527 billion which beat the analyst consensus estimate of $4.388 billion by 3.17 percent. This is a 3.74 percent increase over sales of $4.364 billion the same period last year.

Bank of New York Mellon Q1 2024 GAAP EPS $1.25 Beats $1.19 Estimate, Sales $4.527B Beat $4.388B Estimate

Banking behemoth&nbsp;The Bank Of New York Mellon Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) on Friday said it is collaborating with tech giant&nbsp;Accenture Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>) to modernize financial services offerings with an initial focus on data management and&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/04/n38218640/bny-mellon-collaborates-with-accenture-to-drive-accelerated-growth-for-clients" rel="noreferrer noopener">analytics product development and delivery</a>.
The companies will leverage cutting-edge technologies to unlock the potential of data at unprecedented speeds, aiding their shared clients in driving rapid growth.
By blending Accenture&#8217;s proficiency in data, AI, and platform engineering with BNY Mellon&#8217;s extensive financial data and analytics services, the collaboration will expedite the rollout of innovative offerings in private markets and wealth management tech.&nbsp;
According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, ACN stock has gained 12% in the past year. Investors can gain exposure to the stock via IShares U.S. Tech Independence Focused ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IETC#BATS">IETC</a>) and Natixis Vaughan Nelson Select ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNSE#NYSE">VNSE</a>).
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12093337/ACN5.png" alt="" class="wp-image-289604" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12093337/ACN5.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12093337/ACN5-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
BNY Mellon and Accenture aim to craft outstanding client experiences by leveraging their capabilities and platforms.
&#8220;By harnessing the latest technology and our shared expertise with Accenture we can support clients in transforming their operating models to utilize the power of their data to drive efficiency and growth,&#8221; said Akash Shah, Chief Growth Officer, BNY Mellon.&nbsp;&nbsp;
According to&nbsp;<a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>, BK stock has gained over 20% in the past year. Investors can gain exposure to the stock via Davis Fundamental ETF Trust, Davis Select Financial ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/DFNL#BATS">DFNL</a>), and Invesco KBW Bank ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWB#NASDAQ">KBWB</a>).
<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="750" height="650" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12093602/BK6.png" alt="" class="wp-image-289606" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12093602/BK6.png 750w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/04/12093602/BK6-300x260.png 300w" sizes="(max-width: 750px) 100vw, 750px" /></figure>
Price Action: ACN shares are trading lower by 2.6% to $316.71 on the last check Friday, while BK shares are trading lower by 0.65% to $55.01.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Wall Street Behemoths BNY Mellon & Accenture Join Forces to Revolutionize Financial Services Through Data Innovation

BNY Mellon And Kyriba Announce Collaboration To Combine Short-Term Investment LiquidityDirect Platform With Kyriba's Scalable SaaS Solution

Evercore ISI Group analyst Glenn Schorr maintains Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) with a In-Line and raises the price target from $57 to $61.

Evercore ISI Group Maintains In-Line on Bank of New York Mellon, Raises Price Target to $61

Bank of New York Mellon's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BK#NYSE">BK</a>) short percent of float has risen 9.89% since its last report. The company recently reported that it has 7.57 million shares sold short, which is 1.0% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.06 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Bank of New York Mellon Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1711631708_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Bank of New York Mellon has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Bank of New York Mellon's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Bank of New York Mellon's peer group average for short interest as a percentage of float is 2.46%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.