Bank New York Mellon Corp Stock Price, News & Analysis

On July 15, 2021, the Bank of New York Mellon Corporation (NYSE: BK) declared a $0.34 per share quarterly common stock dividend, payable on August 9, 2021. The record date for this dividend is July 27, 2021. Additionally, various preferred stock dividends were announced, including $1,011.11 for Series A, $898.50 for Series E, $2,312.50 for Series F, $2,350.00 for Series G, and $925.00 for Series H, all payable on September 20, 2021 to holders of record by September 5, 2021.

The Bank of New York Mellon Corporation (BK) reported Q2 2021 results, showing a 16% increase in net income to $991 million, with diluted EPS rising 12% to $1.13. Total revenue decreased 1% to $4.0 billion, with fee revenue up 4% (10% excluding money market fee waivers), while net interest revenue fell 17%. The CET1 ratio stands at 12.6%. BNY Mellon also announced a 10% dividend increase and a $6 billion share repurchase program. AUC/A rose 21% to $45 trillion, indicating strong client activity.

Grayscale Investments has selected BNY Mellon as the asset servicing provider for the Grayscale Bitcoin Trust (OTCQX: GBTC). The agreement, effective October 1, 2021, includes fund accounting, administration, and future ETF services. This partnership aims to enhance scalability and innovation, positioning Grayscale for a successful ETF conversion, aligning with its strategic product pipeline. Grayscale's assets under management exceed $30 billion, while BNY Mellon administers over $41.7 trillion in assets, solidifying their commitment to the growing digital asset market.

BNY Mellon announced a definitive agreement to acquire Milestone Group, a prominent provider of fund management technology. This acquisition follows a year of collaboration to enhance oversight and net asset value (NAV) services. Although financial terms were not disclosed, the transaction is expected to close in the second half of 2021, pending approvals. Milestone's pControl platform will integrate with BNY Mellon's offerings, enhancing digital capabilities and operational efficiency for clients. The acquisition aims to optimize services for asset managers and owners, leveraging both technology and expertise.

BNY Mellon will announce its second quarter 2021 financial results on July 15, 2021. Earnings materials will be available on BNY Mellon's website from 6:30 a.m. ET. A conference call and live audio webcast will follow at 8 a.m. ET, featuring forward-looking statements and other important information. Replays of the conference call will be accessible from 2 p.m. ET on July 15 through August 13, 2021. As of March 31, 2021, BNY Mellon managed $41.7 trillion in assets under custody and $2.2 trillion under management.

BNY Mellon Wealth Management announced the appointment of Patrice Wetzel as Senior Client Strategist based in Chicago. With over 30 years of financial experience, including leadership roles at Wells Fargo and Northern Trust, she will cater to ultra-high-net-worth clients. Wetzel's expertise in building client relationships aligns with BNY Mellon's wealth management strategies. The firm manages $292 billion in client assets and aims to enhance its service offerings through this strategic hire.

BNY Mellon Wealth Management has appointed Alicia Levine as the new Head of Equities, Capital Markets Advisory, and Vice Chair of the Investment Strategy Committee, succeeding Sinead Colton Grant. Alicia, who joined BNY Mellon in 2016, previously served as Chief Strategist and Managing Director. With over two decades of investment experience, she will oversee U.S. Equity and Capital Markets Advisory groups. BNY Mellon manages $292 billion in client assets as of March 31, 2021, and is a leading provider of wealth management services.

BNY Mellon Wealth Management has appointed Sinead Colton Grant as the Global Head of BNY Mellon Investor Solutions. She will oversee the firm's multi-asset solutions business, which manages over $29 billion in assets as of March 31, 2021. Sinead brings over 25 years of industry experience, including roles at BNY Mellon and BlackRock. She succeeds Jamie Lewin, who is returning to the United Kingdom. Sinead's leadership is expected to enhance client services in a rapidly growing market, leveraging BNY Mellon's 50 years of experience as an Outsourced Chief Investment Officer.