Bank of New York Mellon Q2 EPS $1.13 Beats $1.00 Estimate

Benzinga2021-07-15

Bank of New York Mellon Corp. on Thursday reported a 9.9% rise in second-quarter profit.

The New York City-based company's earnings per share were $1.13, up from $1.01 in the comparable quarter a year ago and a consensus of $1 taken from FactSet and based on 17 analysts forecasts.

Net income attributable to shareholders was $991 million, compared with $901 million a year ago.

The bank booked a provision benefit against credit losses of $86 million compared with a negative $143 million for the second quarter of 2020.

Net interest income fell to $645 million from $780 million. Its Common Equity Tier 1 ratio--a measure of financial of strength--was unchanged at 12.6%.

The bank's board approved a $6 billion stock-repurchase plan through to the fourth quarter of next year, the bank said, and its quarterly dividend increased by 10%, to 34 cents a share.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • PatchG
    2021-07-15
    PatchG
    Tell me your opinion about this news...
  • BruceLyy
    2021-07-15
    BruceLyy
    Pls like, thank you
  • imsomeonelse
    2021-07-15
    imsomeonelse
    Banks are flushed with money
  • abp
    2021-07-15
    abp
    Pls like and comment
  • JoeK
    2021-07-15
    JoeK
    Yeah
  • CeLsIuS
    2021-07-15
    CeLsIuS
    Wow
Leave a comment
19