The Bank of New York Mellon Corporation (NYSE:BK) Q4 2023 Earnings Conference Call January 12, 2024 1:00 PM ET Company Participants Marius Merz - Head of Investor Relations Robin Vince - President and Chief Executive Officer Dermot McDonogh - Chief Financial Officer Conference Call Participants Brennan Hawken - UBS Mike Mayo - Wells Fargo Securities Brian Bedell - Deutsche Bank Ebrahim Poonawala - Bank of America Securities Ken Usdin - Jefferies Glenn Schorr - Evercore ISI Manan Gosalia - Morgan Stanley Ger ...

Key TakeawaysBank of New York Mellon Corp. exceeded profit and revenue estimates Friday as it reported that fourth-quarter interest revenue increased.The bank's assets under custody of an administrator and assets under management (AUM) both rose 8% for the latest quarter.Shares of Bank of New York Mellon jumped Friday to their highest price since February 2022.Bank of New York Mellon Corp. (BK) shares advanced roughly 4% Friday afternoon as the bank posted better-than-expected results because of surging net ...

Bank of New York Mellon Corporation’s (BK) fourth-quarter 2023 adjusted earnings of $1.28 per share surpassed the Zacks Consensus Estimate of $1.12. However, the bottom line reflects a fall of 1.5% from the prior-year quarter.Results have been primarily aided by a rise in net interest revenues and fee revenues. The assets under management (AUM) balance witnessed a rise, which was another major positive for the company. However, higher expenses have hurt the results to some extent. Also, the credit quality w ...

2023 Financial Results - Total fee revenue was $12.872 billion, a decrease of 1% compared to 2022[3] - Net interest revenue increased to $4.345 billion, a significant increase from $(82) million in 2022[3] - Total revenue reached $17.502 billion, up 7% year-over-year[3] - Net income applicable to common shareholders increased by 33% to $3.148 billion[3] - Adjusted total revenue was $17.652 billion, up 5% year-over-year[3] - Adjusted EPS grew by 10% to $5.05[3] Q4 2023 Financial Results - Total fee revenue was $3.214 billion, flat year-over-year[12] - Net interest revenue increased to $1.101 billion, up 4% year-over-year[12] - Total revenue reached $4.311 billion, up 10% year-over-year[12] - Adjusted total revenue was $4.461 billion, up 2% year-over-year[12] 2024 Financial Outlook - The company anticipates fee revenue to increase year-over-year, driven by higher organic growth and modest equity market appreciation[36] - Net interest revenue is expected to decrease by approximately 10% year-over-year due to deposit margin compression[36] - Expenses (excluding notable items) are projected to be approximately flat year-over-year, balancing continued investments with efficiency savings[36] - The company aims for a total payout ratio of ≥100%[36]

The Bank of New York Mellon Corporation (BK) came out with quarterly earnings of $1.28 per share, beating the Zacks Consensus Estimate of $1.12 per share. This compares to earnings of $1.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.29%. A quarter ago, it was expected that this company would post earnings of $1.14 per share when it actually produced earnings of $1.27, delivering a surprise of 11.40%.Over the last four ...

NEW YORK, Jan. 12, 2024 /PRNewswire/ -- The Bank of New York Mellon Corporation (NYSE: BK) today announced that its Board of Directors declared dividends on its common and preferred stock as follows: Common – a quarterly common stock dividend of $0.42 per share, payable on February 2, 2024 to shareholders of record as of the close of business on January 22, 2024. Preferred – the following dividends for the noncumulative perpetual preferred stock, liquidation preference $100,000 per share, for the dividend p ...

NEW YORK, Jan. 12, 2024 /PRNewswire/ -- BNY Mellon has reported financial results for the fourth quarter 2023. The company's earnings release along with the quarterly financial highlights and other earnings-related documents are available at www.bnymellon.com/investorrelations. Management will host a conference call and simultaneous live audio webcast at 1:00 p.m. ET today. This conference call and audio webcast will include forward-looking statements and may include other material information. Conference C ...

NEW YORK--(BUSINESS WIRE)--BNY Mellon Alcentra Global Multi-Strategy Credit Fund, Inc. (the "Fund") today announced that the Fund's Board of Directors has approved the Fund's quarterly tender offer (the "Tender Offer") with the following terms: Number of Shares 2.5% of the Fund's outstanding shares as of December 31, 2023 Commencement Date January 17, 2024 Expiration Date and Time February 13, 2024 at 5:00 p.m. Eastern Time, unless otherwise extended Price Net asset value per s ...

NEW YORK--(BUSINESS WIRE)--BNY Mellon Municipal Bond Infrastructure Fund, Inc. (NYSE: DMB) today announced a distribution of $0.0300 per share of common stock, payable on February 1, 2024 to shareholders of record at the close of business on January 19, 2024. The ex-dividend date is January 18, 2024. The previous distribution announced in December was $0.0300 per share of common stock. The Fund intends to make regular monthly distributions to its common shareholders at a level rate based on its projected p ...

NEW YORK--(BUSINESS WIRE)--BNY Mellon Investment Adviser, Inc. announced today that BNY Mellon Municipal Income, Inc., BNY Mellon Strategic Municipal Bond Fund, Inc. and BNY Mellon Strategic Municipals, Inc. (each, a "Fund") have declared a monthly distribution for each Fund's common shares as summarized below. The distributions are payable January 31, 2024 to shareholders of record on January 16, 2024, with an ex-dividend date of January 12, 2024.     Fund     Ticker Monthly Distribution ...