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BK

BNY Mellon

$53.45

0.87 (1.65%)

06:36
04/17/19
04/17
06:36
04/17/19
06:36

BNY Mellon reports Q1 EPS 94c, consensus 96c

Reports Q1 revenue $3.9B, consensus $4B. Reports Q1 common equity tier 1 ratio 11%. Reports Q1 book value per common share $39.36. "Our performance this quarter was mixed. Several of our fee-based metrics in Investment Services were consistent with recent results, while we experienced weakness in Investment Management and net interest income. The year-over-year declines in revenue and earnings per share were primarily driven by the changing mix and cost of our deposits and the impact of the prior year asset management outflows. The impact of divestitures, asset gains and the particularly strong markets and deposit balances in last year's first quarter also made the year-over-year comparison more difficult. Our overall expenses remained well controlled while we continued to increase our investment in technology and infrastructure," Charlie Scharf, chairman and CEO, said. "While the current expectations for the yield curve will likely negatively impact our revenue growth for the next several quarters, we will remain disciplined on expenses and continue to build out capabilities, which should eventually enable stronger growth. The strategic alliance that we announced with BlackRock Solutions is an example as common clients can immediately gain value. We have said we will work with third parties to more closely integrate the front-to-back operating model, and this is one meaningful example of how we will use our data and tools to benefit our clients, working on our own solutions and with third parties," Scharf added. "During the quarter, we generated more than $900 million of earnings and continued to return a significant portion of that to our shareholders. Our capital remains strong with a CET1 ratio of 11 percent. We are progressing on our priorities and remain confident in our future," Scharf concluded.

  • 17

    Apr

BK BNY Mellon
$53.45

0.87 (1.65%)

10/19/18
KBWI
10/19/18
DOWNGRADE
Target $49
KBWI
Underperform
BNY Mellon downgraded to Underperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Brian Kleinhanzl downgraded BNY Mellon to Underperform and lowered his price target for the shares to $49 from $55. While the company beat estimates this quarter, several line items were weaker than expectations, Kleinhanzl tells investors in a research note. He cut his 2019 and 2020 estimates again as a result of limited upside and limited visibility into BNY Mellon's earnings power.
10/19/18
10/19/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Las Vegas Sands (LVS) downgraded to Buy from Conviction Buy at Goldman Sachs. 2. eBay (EBAY) downgraded to Hold from Buy at Stifel with analyst Scott Devitt saying PayPal's (PYPL) earnings release last night suggested weak eBay gross merchandise volume trends in Q3. 3. Ford (F) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Adam Jonas saying he now believes the market needs more evidence of success before embracing the Ford restructuring story. 4. BNY Mellon (BK) downgraded to Underperform from Market Perform at Keefe Bruyette with analyst Brian Kleinhanzl saying while the company beat estimates this quarter, several line items were weaker than expectations. 5. Harley-Davidson (HOG) downgraded to Market Perform from Outperform at BMO Capital with analyst Gerrick Johnson saying his previously expected catalysts for sales and earnings did not materialize. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
01/08/19
JEFF
01/08/19
DOWNGRADE
Target $91
JEFF
Hold
Jefferies cuts trust bank estimates, downgrades Northern Trust to Hold
Jefferies analyst Ken Usdin downgraded Northern Trust (NTRS) to Hold from Buy and lowered his price target for the shares to $91 from $121. The sharp Q4 decline in market levels weighs on trust banks' revenue estimates, Usdin tells investors in a research note. He downgraded Northern Trust with his 2020 earnings estimate now 7% below consensus. Trust bank valuations remain below historical averages, but slower organic growth and "less macro help" are challenges, says the analyst. He also lowered his price target for Hold-rated BNY Mellon (BK) to $50 and Hold-rated State Street (STT) to $70.
01/09/19
SBSH
01/09/19
DOWNGRADE
Target $52
SBSH
Neutral
BNY Mellon downgraded to Neutral from Buy at Citi
Citi analyst Keith Horowitz downgraded BNY Mellon to Neutral with a $52 price target. The analyst believes the company's valuation relative to peers has gotten full and says he cannot justify a strong case for 15% plus upside from current levels. He views BK as fairly valued at current prices.

TODAY'S FREE FLY STORIES

SQM

SQM

$37.08

-0.99 (-2.60%)

21:36
04/22/19
04/22
21:36
04/22/19
21:36
Initiation
SQM initiated at Vertical Group »

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  • 23

    May

NEE

NextEra Energy

$190.53

1.21 (0.64%)

, UTX

United Technologies

$136.99

-0.01 (-0.01%)

20:25
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Earnings
Notable companies reporting before tomorrow's open »

Notable companies…

NEE

NextEra Energy

$190.53

1.21 (0.64%)

UTX

United Technologies

$136.99

-0.01 (-0.01%)

KO

Coca-Cola

$47.38

-0.11 (-0.23%)

VZ

Verizon

$58.38

0.33 (0.57%)

PG

Procter & Gamble

$106.04

-0.01 (-0.01%)

LMT

Lockheed Martin

$315.24

0.94 (0.30%)

SHW

Sherwin-Williams

$451.83

-0.61 (-0.13%)

TWTR

Twitter

$34.39

-0.01 (-0.03%)

STT

State Street

$69.92

-0.02 (-0.03%)

CNC

Centene

$48.19

0.04 (0.08%)

FITB

Fifth Third

$27.54

0.02 (0.07%)

NUE

Nucor

$57.00

-0.49 (-0.85%)

DGX

Quest Diagnostics

$85.17

-0.55 (-0.64%)

HAS

Hasbro

$88.02

-0.72 (-0.81%)

HOG

Harley-Davidson

$39.71

-1.2 (-2.93%)

PII

Polaris Industries

$98.93

0.185 (0.19%)

JBLU

JetBlue

$16.84

-0.13 (-0.77%)

GPK

Graphic Packaging

$12.98

0.035 (0.27%)

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    Nov

LOGC

LogicBio Therapeutics

$12.28

0.15 (1.24%)

20:16
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LogicBio Therapeutics' methylmalonic acidemia treatment gets FDA orphan status »

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  • 06

    May

RBB

RBB Bancorp

$19.18

-0.61 (-3.08%)

19:38
04/22/19
04/22
19:38
04/22/19
19:38
Earnings
RBB Bancorp reports Q1 EPS 51c, consensus 55c »

Reports Q1 NII $25.9M,…

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  • 23

    Apr

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BEN

Franklin Resources

$35.04

-0.27 (-0.76%)

19:09
04/22/19
04/22
19:09
04/22/19
19:09
Periodicals
Franklin Resources to reduce workforce by up to 5%, Bloomberg says »

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  • 26

    Apr

TSLA

Tesla

$262.90

-10.35 (-3.79%)

18:59
04/22/19
04/22
18:59
04/22/19
18:59
Periodicals
Consumer Reports: Tesla 'Autopilot' is no substitute for a human driver »

Consumer Reports states:…

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  • 22

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CMRE

Costamare

$5.65

-0.09 (-1.57%)

, WHR

Whirlpool

$139.39

0.35 (0.25%)

18:56
04/22/19
04/22
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18:56
Hot Stocks
Fly Intel: After Hours Movers »

UP AFTER EARNINGS: …

CMRE

Costamare

$5.65

-0.09 (-1.57%)

WHR

Whirlpool

$139.39

0.35 (0.25%)

CDNS

Cadence Design

$64.23

0.87 (1.37%)

BEDU

Bright Scholar

$11.38

-0.105 (-0.91%)

RRC

Range Resources

$9.83

0.07 (0.72%)

WAL

Western Alliance

$43.36

-0.89 (-2.01%)

ALDR

Alder Biopharmaceuticals

$12.77

0.1 (0.79%)

ROKU

Roku

$58.19

1.5 (2.65%)

VCYT

Veracyte

$23.04

0.02 (0.09%)

HARP

Harpoon Therapeutics

$11.35

-1.68 (-12.89%)

RMBS

Rambus

$11.80

-0.1 (-0.84%)

GRTS

Gritstone Oncology

$14.57

0.86 (6.27%)

GES

Guess

$16.66

-0.41 (-2.40%)

BHP

BHP Group

$55.14

0.19 (0.35%)

03/08/13
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PCG

PG&E

$21.45

0.435 (2.07%)

18:52
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18:52
Hot Stocks
PG&E submits updated financing proposal for safety, reliability investments »

Pacific Gas and Electric…

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18:40
04/22/19
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18:40
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18:40
General news
Treasury Closing Summary: »

Treasury Closing Summary:…

PCG

PG&E

$21.45

0.435 (2.07%)

18:39
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18:39
Hot Stocks
PG&E names Fred Buckman to board, expands board to 15 directors »

PG&E Corporation…

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AAPL

Apple

$204.62

0.79 (0.39%)

18:36
04/22/19
04/22
18:36
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18:36
Periodicals
Apple sued for $1B by teen claiming glitch in facial recognition software »

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  • 30

    Apr

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    Jun

GOOG

Alphabet

$1,248.96

11.74 (0.95%)

, GOOGL

Alphabet Class A

$1,253.94

12.01 (0.97%)

18:36
04/22/19
04/22
18:36
04/22/19
18:36
Periodicals
Google walkout organizers say company retaliated against them, Wired says »

Two employee activists at…

GOOG

Alphabet

$1,248.96

11.74 (0.95%)

GOOGL

Alphabet Class A

$1,253.94

12.01 (0.97%)

03/08/13
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  • 29

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    Oct

CTRA

Contura Energy

$56.27

0.5 (0.90%)

18:16
04/22/19
04/22
18:16
04/22/19
18:16
Hot Stocks
Contura Energy announces departure of CEO Kevin Crutchfield »

Contura Energy announced…

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  • 01

    May

BWEN

Broadwind Energy

$1.88

0.06 (3.30%)

18:04
04/22/19
04/22
18:04
04/22/19
18:04
Hot Stocks
Broadwind Energy announces $19.5M tower order »

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  • 23

    Apr

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HLX

Helix Energy

$8.59

0.2 (2.38%)

18:04
04/22/19
04/22
18:04
04/22/19
18:04
Earnings
Helix Energy reports Q1 adjusted EPS 1c, consensus 0c »

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  • 23

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VBTX

Veritex

$25.92

-0.3 (-1.14%)

18:03
04/22/19
04/22
18:03
04/22/19
18:03
Earnings
Veritex reports Q1 diluted operating EPS 59c, consensus 55c »

Net interest margin…

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  • 23

    Apr

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    May

BCS

Barclays

$8.70

-0.05 (-0.57%)

18:00
04/22/19
04/22
18:00
04/22/19
18:00
Periodicals
Barclays planning to slash bonuses for investment bankers, FT says »

Barclays plans to crack…

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  • 25

    Apr

  • 03

    Jun

NVDA

Nvidia

$188.48

2.22 (1.19%)

, TSLA

Tesla

$262.90

-10.35 (-3.79%)

17:53
04/22/19
04/22
17:53
04/22/19
17:53
Periodicals
Nvidia calls Tesla claims on self-driving 'inaccurate', MarketWatch says »

Tesla (TSLA) claims that…

NVDA

Nvidia

$188.48

2.22 (1.19%)

TSLA

Tesla

$262.90

-10.35 (-3.79%)

03/08/13
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  • 22

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  • 10

    Jun

EFSC

Enterprise Financial

$42.49

-1.4 (-3.19%)

17:47
04/22/19
04/22
17:47
04/22/19
17:47
Hot Stocks
Enterprise Financial board raised dividend to 15c per share »

The company's Board…

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  • 23

    Apr

EFSC

Enterprise Financial

$42.49

-1.4 (-3.19%)

17:46
04/22/19
04/22
17:46
04/22/19
17:46
Earnings
Enterprise Financial reports Q1 EPS 67c, consensus 91c »

Reports Q1 revenue…

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  • 23

    Apr

17:45
04/22/19
04/22
17:45
04/22/19
17:45
General news
U.S. tax refunds »

U.S. tax refunds are on…

BPRN

Bank of Princeton

$32.30

(0.00%)

17:43
04/22/19
04/22
17:43
04/22/19
17:43
Earnings
Bank of Princeton reports Q1 EPS 3c, may not compare to consensus 53c »

Reports Q1 NII $9.9M,…

03/08/13
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  • 08

    May

LENS

Presbia

$0.56

-0.0034 (-0.61%)

17:29
04/22/19
04/22
17:29
04/22/19
17:29
Hot Stocks
Presbia discloses staff reduction, search for investor or strategic partner »

In a regulatory filing,…

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WAL

Western Alliance

$43.36

-0.89 (-2.01%)

17:23
04/22/19
04/22
17:23
04/22/19
17:23
Earnings
Western Alliance reports Q1 adjusted EPS $1.16, consensus $1.09 »

Reports Q1 NII $247.3M…

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  • 23

    Apr

FCF

First Commonwealth

$13.26

-0.22 (-1.63%)

, SAN

Banco Santander

$5.12

-0.015 (-0.29%)

17:21
04/22/19
04/22
17:21
04/22/19
17:21
Hot Stocks
First Commonwealth to acquire 14 branches from Santander »

First Commonwealth…

FCF

First Commonwealth

$13.26

-0.22 (-1.63%)

SAN

Banco Santander

$5.12

-0.015 (-0.29%)

03/08/13
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