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Last $40.67 USD
Change Today -0.13 / -0.32%
Volume 4.8M
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

bank of new york mellon corp (BK) Snapshot

Open
$40.56
Previous Close
$40.80
Day High
$40.80
Day Low
$40.18
52 Week High
08/10/15 - $45.45
52 Week Low
10/15/14 - $35.06
Market Cap
45.0B
Average Volume 10 Days
8.5M
EPS TTM
$2.86
Shares Outstanding
1.1B
EX-Date
07/30/15
P/E TM
14.2x
Dividend
$0.68
Dividend Yield
1.67%
Current Stock Chart for BANK OF NEW YORK MELLON CORP (BK)

bank of new york mellon corp (BK) Details

The Bank of New York Mellon Corporation, an investment company, provides financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. It operates through two segments, Investment Management and Investment Services. The company offers investment management; trust and custody; foreign exchange; fund administration; global collateral services; securities lending; depositary receipts; corporate trust; global payment/cash management; banking services; and clearing services. It also provides mutual funds, separate accounts, wealth management and private banking services; and broker-dealer services, registered investment advisor services, prime brokerage services, and working capital solutions. In addition, the company is involved in credit-related activities, business exits, leasing operations, and corporate treasury activities; and the provision of global markets and institutional banking services. The Bank of New York Mellon Corporation was founded in 1784 and is headquartered in New York, New York.

50,700 Employees
Last Reported Date: 08/7/15
Founded in 1784

bank of new york mellon corp (BK) Top Compensated Officers

Chairman, Chief Executive Officer, Member of ...
Total Annual Compensation: $1.0M
President and President of BNY Mellon NA
Total Annual Compensation: $650.0K
Vice Chairman, Chief Financial Officer, Vice ...
Total Annual Compensation: $650.0K
Vice Chairman, Vice Chairman of Bny Mellon, N...
Total Annual Compensation: $650.0K
Compensation as of Fiscal Year 2014.

bank of new york mellon corp (BK) Key Developments

Government Sue The Bank of New York Mellon Corp. as Trustee of Mortgages

The government has sued The Bank of New York Mellon Corp. over losses tied to sour mortgage securities it managed for financial institutions that sold them to a now-defunct Texas bank, highlighting how federal regulators are casting a wide net in holding banks accountable since the financial crisis of 2008. Regulators have punished banks for making shoddy housing loans or packaging them as securities sold to investors, but the case against BNY Mellon involved work as a trustee and not as an originator of these financial instruments. In a complaint filed in Manhattan federal court, the Federal Deposit Insurance Corp. said it lost more than $440 million when it sold off a $2 billion portfolio that was owned by the former Guaranty Bank in Austin. The bank failed in 2009, and the FDIC, which was overseeing its liquidation, was trying to recover money from the sale of its assets. BNY Mellon, as a trust bank, was acting as an agent for the institutions that bundled mortgage loans into securities and sold them as investments to Guaranty Bank. The lawsuit named Countrywide Home Loans Inc. and Bear Stearns' EMC Mortgage Corp. as the companies that generated the securities. Countrywide was purchased by Bank of America in 2008, and JPMorgan Chase & Co. bought Bear Stearns in the same year. BNY Mellon "shirked its duty" to ensure that the loan documents were not defective when it oversaw 12 trusts that owned those bad mortgage loans, the FDIC said. Regulators said BNY Mellon "stood idly for years" while defective mortgage loans remained in the trusts and servicers reaped excessive fees for servicing defaulted loans. The lawsuit against BNY Mellon occurs amid a regulatory crackdown on mortgage practices that were blamed for the housing crisis. Wall Street banks that repackaged and sold mortgages to investors have claimed that they did nothing wrong. Yet the government has collected billions of dollars in settlements from some of them. regulators said the bank would pay $14.8 million to settle allegations that it tried to win business managing investments for a Middle Eastern country by giving internships to family members of government officials.

Bank of New York Mellon Corp. Names Mariano Giralt as Head of Global Tax Services

Mariano Giralt was appointed head of Bank of New York Mellon Corp.'s global tax services operations. Giralt, who has been with the company for four years, previously served as head of its tax services team for Europe, the Middle East and Africa.

The Bank of New York Mellon to Pay $14.8 million Fine to Settle SEC Charges for Violating Foreign Corrupt Practices Act

The Bank of New York Mellon (BK) has agreed to pay a $14.8 million fine to settle charges brought forth by the Securities Exchange Commission claiming it violated the Foreign Corrupt Practices Act. The bank was in violation as it provided internships to members of foreign government officials tied to an undisclosed Middle Eastern sovereign wealth fund.

 

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Industry Analysis

BK

Industry Average

Valuation BK Industry Range
Price/Earnings 16.2x
Price/Sales 2.8x
Price/Book 1.3x
Price/Cash Flow 15.3x
TEV/Sales NM Not Meaningful
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