Bank New York Mellon Corp Stock Price, News & Analysis

The Bank of New York Mellon Corporation (NYSE: BK) announced a quarterly dividend of $0.31 per share on common stock, payable on May 11, 2021, for shareholders of record by April 28, 2021. Additionally, dividends for preferred stocks include $1,011.11 on Series A, $2,250.00 on Series D, $911.68 on Series E, and $925.00 on Series H, payable on June 21, 2021. As of March 31, 2021, BNY Mellon managed $41.7 trillion in assets under custody and $2.2 trillion in assets under management.

The Bank of New York Mellon (BK) reported first-quarter 2021 results showing a 5% decrease in total revenue to $3.9 billion and net income of $858 million. Diluted earnings per share fell 8% to $0.97. Key metrics include ROE at 9% and ROTCE at 16%. Fee revenue rose 1% year-over-year, excluding money market fee waivers, while net interest revenue dropped 20%, significantly impacting overall performance. The CET1 ratio stood at 12.6%, supported by share repurchases totaling $699 million. Provisions for credit losses included an 83 million benefit.

BNY Mellon announced the addition of cleared repo to its LiquidityDirect investment platform, enhancing services for institutional clients. This move follows the platform's growth, which has seen daily volumes in the sponsored cleared repo sector rise from $30 billion in 2017 to above $200 billion recently. The cleared repo option allows clients to invest without full clearing house membership, increasing accessibility. LiquidityDirect has supported nearly $9 trillion in transactions annually as of 2020, positioning it as a leader in short-end investments.

BNY Mellon announced its selection by Charles Schwab Investment Management to provide transfer agency services. This collaboration aims to enhance client service while reducing complexity and costs associated with asset management. BNY Mellon leverages its OMNI platform and industry expertise, delivering streamlined access to investment information. With $38.6 trillion in assets under custody and $2.0 trillion in assets under management, BNY Mellon continues to emphasize operational efficiency for clients. This partnership signifies a pivotal step in BNY Mellon's commitment to improving investor solutions.

BNY Mellon has introduced a solution allowing international investors to use Chinese fixed income assets as collateral on its triparty platform via Hong Kong's Bond Connect. This development addresses the previous lack of mechanisms to collateralize these assets, facilitating access to the $13.9 trillion China Interbank Bond Market. The first successful trade involved collateralizing Chinese government securities. BNY Mellon's move is expected to enhance the global collateral landscape, reflecting the growing importance of the Chinese market in the investment ecosystem.

BNY Mellon will announce its first quarter 2021 financial results on April 16, 2021, with materials available on its website starting at 6:30 a.m. ET. A conference call and audio webcast will follow at 8 a.m. ET, featuring forward-looking statements and material information. Replays will be accessible from 2 p.m. ET on the same day until May 16, 2021. BNY Mellon, a global investments company, manages $41.1 trillion in assets under custody and $2.2 trillion in assets under management.

BNY Mellon Wealth Management has appointed Carolina Montiel as Regional Director and Team Leader in Atlanta, GA. Montiel, who has nearly 30 years of investment experience, will oversee client services and the implementation of tailored wealth management solutions in the region. Carolina, previously a Managing Director at BNY Mellon, has extensive experience with EFG Capital and HSBC. BNY Mellon manages $286 billion in total client assets and is focused on enhancing its Active Wealth management approach to meet client needs.

BNY Mellon Wealth Management has appointed John Ippolito as the new Regional President for the Tri-State region, overseeing operations in New York, New Jersey, and Connecticut. With 26 years of experience at Northern Trust, including leading a team in New York, Ippolito is expected to bring valuable expertise to the leadership team.

CEO Catherine Keating expressed enthusiasm for Ippolito's leadership amid the firm's long-standing history in the region, which includes $286 billion in total client assets.