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Also traded in: Argentina, Brazil, Germany, Mexico

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 4/10

vs
industry
vs
history
Cash-to-Debt 3.49
BK's Cash-to-Debt is ranked lower than
66% of the 1151 Companies
in the Global Asset Management industry.

( Industry Median: 9999.00 vs. BK: 3.49 )
Ranked among companies with meaningful Cash-to-Debt only.
BK' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.49  Med: 1.62 Max: 7.09
Current: 3.49
0.49
7.09
Equity-to-Asset 0.11
BK's Equity-to-Asset is ranked lower than
93% of the 1010 Companies
in the Global Asset Management industry.

( Industry Median: 0.76 vs. BK: 0.11 )
Ranked among companies with meaningful Equity-to-Asset only.
BK' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.06  Med: 0.1 Max: 0.16
Current: 0.11
0.06
0.16
Debt-to-Equity 0.76
BK's Debt-to-Equity is ranked lower than
77% of the 554 Companies
in the Global Asset Management industry.

( Industry Median: 0.27 vs. BK: 0.76 )
Ranked among companies with meaningful Debt-to-Equity only.
BK' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.53  Med: 0.89 Max: 2.15
Current: 0.76
0.53
2.15
Debt-to-EBITDA 2.06
BK's Debt-to-EBITDA is ranked lower than
65% of the 533 Companies
in the Global Asset Management industry.

( Industry Median: 3.03 vs. BK: 2.06 )
Ranked among companies with meaningful Debt-to-EBITDA only.
BK' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0  Med: 0 Max: 2.06
Current: 2.06
0
2.06
Beneish M-Score: -2.66
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 4/10

vs
industry
vs
history
Net Margin % 28.08
BK's Net Margin % is ranked lower than
51% of the 1039 Companies
in the Global Asset Management industry.

( Industry Median: 27.66 vs. BK: 28.08 )
Ranked among companies with meaningful Net Margin % only.
BK' s Net Margin % Range Over the Past 10 Years
Min: -14.16  Med: 16.95 Max: 28.08
Current: 28.08
-14.16
28.08
ROE % 10.29
BK's ROE % is ranked higher than
59% of the 1134 Companies
in the Global Asset Management industry.

( Industry Median: 6.97 vs. BK: 10.29 )
Ranked among companies with meaningful ROE % only.
BK' s ROE % Range Over the Past 10 Years
Min: -4.79  Med: 7.25 Max: 10.29
Current: 10.29
-4.79
10.29
ROA % 1.21
BK's ROA % is ranked lower than
64% of the 1162 Companies
in the Global Asset Management industry.

( Industry Median: 3.50 vs. BK: 1.21 )
Ranked among companies with meaningful ROA % only.
BK' s ROA % Range Over the Past 10 Years
Min: -0.48  Med: 0.76 Max: 1.21
Current: 1.21
-0.48
1.21
3-Year Revenue Growth Rate 2.70
BK's 3-Year Revenue Growth Rate is ranked lower than
53% of the 799 Companies
in the Global Asset Management industry.

( Industry Median: 4.00 vs. BK: 2.70 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
BK' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: -11.7  Med: 3.6 Max: 24.1
Current: 2.7
-11.7
24.1
3-Year EPS without NRI Growth Rate 20.10
BK's 3-Year EPS without NRI Growth Rate is ranked higher than
68% of the 673 Companies
in the Global Asset Management industry.

( Industry Median: 8.00 vs. BK: 20.10 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
BK' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 0  Med: 12.4 Max: 160.4
Current: 20.1
0
160.4
GuruFocus has detected 4 Warning Signs with Bank of New York Mellon Corp BK.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» BK's 30-Y Financials

Financials (Next Earnings Date: 2018-07-20)


Revenue & Net Income
Equity & Asset
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q2 2017

BK Guru Trades in Q2 2017

Diamond Hill Capital 17,370 sh (New)
Warren Buffett 50,229,588 sh (+52.16%)
David Dreman 54,495 sh (+16.41%)
Ken Fisher 8,246 sh (+2.65%)
Tweedy Browne Global Value 1,315,780 sh (unchged)
Yacktman Focused Fund 700,000 sh (unchged)
Yacktman Fund 2,500,000 sh (unchged)
Robert Olstein 141,888 sh (unchged)
Bill Nygren 6,320,000 sh (unchged)
Martin Whitman 1,523,413 sh (unchged)
Paul Tudor Jones Sold Out
John Rogers 112,837 sh (-0.02%)
Third Avenue Management 1,762,417 sh (-0.32%)
Donald Yacktman 3,806,188 sh (-0.45%)
HOTCHKIS & WILEY 1,119,515 sh (-1.00%)
Tweedy Browne 4,626,992 sh (-1.06%)
First Eagle Investment 19,481,430 sh (-1.15%)
Dodge & Cox 44,390,531 sh (-1.37%)
John Buckingham 122,645 sh (-1.60%)
T Rowe Price Equity Income Fund 3,945,000 sh (-1.99%)
Mario Gabelli 5,509,015 sh (-2.25%)
Murray Stahl 36,472 sh (-2.54%)
Jeff Auxier 292,479 sh (-2.79%)
Chris Davis 19,934,671 sh (-5.08%)
Charles Brandes 2,986,091 sh (-15.43%)
Pioneer Investments 1,137,860 sh (-15.67%)
Joel Greenblatt 6,004 sh (-15.71%)
» More
Q3 2017

BK Guru Trades in Q3 2017

Stanley Druckenmiller 376,000 sh (New)
Diamond Hill Capital 21,713 sh (+25.00%)
Joel Greenblatt 6,257 sh (+4.21%)
First Eagle Investment 19,753,288 sh (+1.40%)
John Buckingham 123,022 sh (+0.31%)
Tweedy Browne Global Value 1,315,780 sh (unchged)
Yacktman Focused Fund 700,000 sh (unchged)
Yacktman Fund 2,500,000 sh (unchged)
Warren Buffett 50,229,588 sh (unchged)
Bill Nygren 6,320,000 sh (unchged)
Pioneer Investments 1,137,060 sh (-0.07%)
Jeff Auxier 292,279 sh (-0.07%)
Tweedy Browne 4,612,087 sh (-0.32%)
Donald Yacktman 3,791,468 sh (-0.39%)
Chris Davis 19,718,607 sh (-1.08%)
Dodge & Cox 43,795,278 sh (-1.34%)
Mario Gabelli 5,410,416 sh (-1.79%)
HOTCHKIS & WILEY 1,075,215 sh (-3.96%)
Murray Stahl 35,022 sh (-3.98%)
Ken Fisher 7,896 sh (-4.24%)
David Dreman 51,154 sh (-6.13%)
Robert Olstein 131,888 sh (-7.05%)
John Rogers 103,249 sh (-8.50%)
T Rowe Price Equity Income Fund 3,600,000 sh (-8.75%)
Third Avenue Management 1,550,304 sh (-12.04%)
Charles Brandes 2,228,819 sh (-25.36%)
Martin Whitman 1,327,913 sh (-12.83%)
» More
Q4 2017

BK Guru Trades in Q4 2017

First Pacific Advisors 8,700 sh (New)
Jim Simons 483,377 sh (New)
Tom Russo 1,500 sh (New)
Paul Tudor Jones 12,885 sh (New)
Joel Greenblatt 18,236 sh (+191.45%)
Pioneer Investments 2,362,749 sh (+107.79%)
Diamond Hill Capital 35,237 sh (+62.29%)
Warren Buffett 60,818,783 sh (+21.08%)
Dodge & Cox 45,583,491 sh (+4.08%)
Tweedy Browne Global Value 1,315,780 sh (unchged)
Yacktman Fund 2,500,000 sh (unchged)
Yacktman Focused Fund 700,000 sh (unchged)
Bill Nygren 6,320,000 sh (unchged)
Martin Whitman 1,327,913 sh (unchged)
Stanley Druckenmiller Sold Out
John Rogers 103,226 sh (-0.02%)
Jeff Auxier 291,729 sh (-0.19%)
HOTCHKIS & WILEY 1,069,315 sh (-0.55%)
Murray Stahl 34,782 sh (-0.69%)
First Eagle Investment 19,583,093 sh (-0.86%)
Chris Davis 19,535,957 sh (-0.93%)
John Buckingham 121,606 sh (-1.15%)
Donald Yacktman 3,718,272 sh (-1.93%)
Charles Brandes 2,171,411 sh (-2.58%)
Tweedy Browne 4,474,186 sh (-2.99%)
T Rowe Price Equity Income Fund 3,470,000 sh (-3.61%)
Robert Olstein 125,000 sh (-5.22%)
Mario Gabelli 5,023,950 sh (-7.14%)
David Dreman 45,310 sh (-11.42%)
Third Avenue Management 1,088,424 sh (-29.79%)
Ken Fisher 5,110 sh (-35.28%)
» More
Q1 2018

BK Guru Trades in Q1 2018

George Soros 260,066 sh (New)
Steven Cohen 463,610 sh (New)
Barrow, Hanley, Mewhinney & Strauss 2,281,164 sh (New)
Paul Tudor Jones 102,536 sh (+695.78%)
Joel Greenblatt 22,447 sh (+23.09%)
Jim Simons 501,577 sh (+3.77%)
Warren Buffett 62,191,448 sh (+2.26%)
John Buckingham 123,742 sh (+1.76%)
Yacktman Fund 2,500,000 sh (unchged)
Tweedy Browne Global Value 1,315,780 sh (unchged)
Robert Olstein 125,000 sh (unchged)
Third Avenue Management 1,088,443 sh (unchged)
Ken Fisher Sold Out
Tom Russo Sold Out
First Pacific Advisors Sold Out
John Rogers 103,166 sh (-0.06%)
Pioneer Investments 2,354,823 sh (-0.34%)
Tweedy Browne 4,411,873 sh (-1.39%)
Dodge & Cox 44,917,941 sh (-1.46%)
Donald Yacktman 3,650,446 sh (-1.82%)
HOTCHKIS & WILEY 1,048,715 sh (-1.93%)
Chris Davis 19,143,658 sh (-2.01%)
First Eagle Investment 19,084,772 sh (-2.54%)
Jeff Auxier 281,029 sh (-3.67%)
David Dreman 43,013 sh (-5.07%)
Charles Brandes 2,048,175 sh (-5.68%)
T Rowe Price Equity Income Fund 3,270,000 sh (-5.76%)
Mario Gabelli 4,713,894 sh (-6.17%)
Murray Stahl 32,354 sh (-6.98%)
Yacktman Focused Fund 650,000 sh (-7.14%)
Diamond Hill Capital 31,784 sh (-9.80%)
Martin Whitman 867,523 sh (-34.67%)
» More
» Details

Insider Trades

Latest Guru Trades with BK

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Warren Buffett 2018-03-31 Add 2.26%0.04%$50.61 - $58.42 $ 57.593%62,191,448
Dodge & Cox 2018-03-31 Reduce -1.46%0.03%$50.61 - $58.42 $ 57.593%44,917,941
Chris Davis 2018-03-31 Reduce -2.01%0.09%$50.61 - $58.42 $ 57.593%19,143,658
First Eagle Investment 2018-03-31 Reduce -2.54%0.06%$50.61 - $58.42 $ 57.593%19,084,772
Mario Gabelli 2018-03-31 Reduce -6.17%0.1%$50.61 - $58.42 $ 57.593%4,713,894
Tweedy Browne 2018-03-31 Reduce -1.39%0.09%$50.61 - $58.42 $ 57.593%4,411,873
Donald Yacktman 2018-03-31 Reduce -1.82%0.04%$50.61 - $58.42 $ 57.593%3,650,446
T Rowe Price Equity Income Fund 2018-03-31 Reduce -5.76%0.05%$50.61 - $58.42 $ 57.593%3,270,000
Barrow, Hanley, Mewhinney & Strauss 2018-03-31 New Buy0.19%$50.61 - $58.42 $ 57.593%2,281,164
Charles Brandes 2018-03-31 Reduce -5.68%0.13%$50.61 - $58.42 $ 57.593%2,048,175
HOTCHKIS & WILEY 2018-03-31 Reduce -1.93%$50.61 - $58.42 $ 57.593%1,048,715
Yacktman Focused Fund 2018-03-31 Reduce -7.14%0.08%$50.61 - $58.42 $ 57.593%650,000
George Soros 2018-03-31 New Buy0.25%$50.61 - $58.42 $ 57.593%260,066
John Rogers 2018-03-31 Reduce -0.06%$50.61 - $58.42 $ 57.593%103,166
David Dreman 2018-03-31 Reduce -5.07%0.07%$50.61 - $58.42 $ 57.593%43,013
Joel Greenblatt 2018-03-31 Add 23.09%$50.61 - $58.42 $ 57.593%22,447
Ken Fisher 2018-03-31 Sold Out $50.61 - $58.42 $ 57.593%0
Martin Whitman 2018-01-31 Reduce -34.67%2.45%$50.82 - $58.42 $ 57.596%867,523
Warren Buffett 2017-12-31 Add 21.08%0.3%$50.82 - $54.97 $ 57.598%60,818,783
Dodge & Cox 2017-12-31 Add 4.08%0.07%$50.82 - $54.97 $ 57.598%45,583,491
First Eagle Investment 2017-12-31 Reduce -0.86%0.02%$50.82 - $54.97 $ 57.598%19,583,093
Chris Davis 2017-12-31 Reduce -0.93%0.04%$50.82 - $54.97 $ 57.598%19,535,957
Mario Gabelli 2017-12-31 Reduce -7.14%0.13%$50.82 - $54.97 $ 57.598%5,023,950
Tweedy Browne 2017-12-31 Reduce -2.99%0.2%$50.82 - $54.97 $ 57.598%4,474,186
Donald Yacktman 2017-12-31 Reduce -1.93%0.04%$50.82 - $54.97 $ 57.598%3,718,272
T Rowe Price Equity Income Fund 2017-12-31 Reduce -3.61%0.03%$50.82 - $54.97 $ 57.598%3,470,000
Charles Brandes 2017-12-31 Reduce -2.58%0.06%$50.82 - $54.97 $ 57.598%2,171,411
Third Avenue Management 2017-12-31 Reduce -29.79%1.11%$50.82 - $54.97 $ 57.598%1,088,424
HOTCHKIS & WILEY 2017-12-31 Reduce -0.55%$50.82 - $54.97 $ 57.598%1,069,315
Robert Olstein 2017-12-31 Reduce -5.22%0.05%$50.82 - $54.97 $ 57.598%125,000
John Rogers 2017-12-31 Reduce -0.02%$50.82 - $54.97 $ 57.598%103,226
David Dreman 2017-12-31 Reduce -11.42%0.17%$50.82 - $54.97 $ 57.598%45,310
Joel Greenblatt 2017-12-31 Add 191.45%0.01%$50.82 - $54.97 $ 57.598%18,236
Ken Fisher 2017-12-31 Reduce -35.28%$50.82 - $54.97 $ 57.598%5,110
Dodge & Cox 2017-09-30 Reduce -1.34%0.03%$50.28 - $54.04 $ 57.5910%43,795,278
First Eagle Investment 2017-09-30 Add 1.40%0.03%$50.28 - $54.04 $ 57.5910%19,753,288
Chris Davis 2017-09-30 Reduce -1.08%0.05%$50.28 - $54.04 $ 57.5910%19,718,607
Mario Gabelli 2017-09-30 Reduce -1.79%0.03%$50.28 - $54.04 $ 57.5910%5,410,416
Tweedy Browne 2017-09-30 Reduce -0.32%0.02%$50.28 - $54.04 $ 57.5910%4,612,087
Donald Yacktman 2017-09-30 Reduce -0.39%0.01%$50.28 - $54.04 $ 57.5910%3,791,468
T Rowe Price Equity Income Fund 2017-09-30 Reduce -8.75%0.08%$50.28 - $54.04 $ 57.5910%3,600,000
Charles Brandes 2017-09-30 Reduce -25.36%0.61%$50.28 - $54.04 $ 57.5910%2,228,819
Third Avenue Management 2017-09-30 Reduce -12.04%0.48%$50.28 - $54.04 $ 57.5910%1,550,304
HOTCHKIS & WILEY 2017-09-30 Reduce -3.96%0.01%$50.28 - $54.04 $ 57.5910%1,075,215
Robert Olstein 2017-09-30 Reduce -7.05%0.06%$50.28 - $54.04 $ 57.5910%131,888
John Rogers 2017-09-30 Reduce -8.50%0.01%$50.28 - $54.04 $ 57.5910%103,249
David Dreman 2017-09-30 Reduce -6.13%0.09%$50.28 - $54.04 $ 57.5910%51,154
Ken Fisher 2017-09-30 Reduce -4.24%$50.28 - $54.04 $ 57.5910%7,896
Joel Greenblatt 2017-09-30 Add 4.21%$50.28 - $54.04 $ 57.5910%6,257
Martin Whitman 2017-07-31 Reduce -12.83%0.86%$46.2 - $53.91 $ 57.5916%1,327,913
Warren Buffett 2017-06-30 Add 52.16%0.54%$46.2 - $51.02 $ 57.5921%50,229,588
Dodge & Cox 2017-06-30 Reduce -1.37%0.02%$46.2 - $51.02 $ 57.5921%44,390,531
Chris Davis 2017-06-30 Reduce -5.08%0.22%$46.2 - $51.02 $ 57.5921%19,934,671
First Eagle Investment 2017-06-30 Reduce -1.15%0.03%$46.2 - $51.02 $ 57.5921%19,481,430
Mario Gabelli 2017-06-30 Reduce -2.25%0.04%$46.2 - $51.02 $ 57.5921%5,509,015
Tweedy Browne 2017-06-30 Reduce -1.06%0.07%$46.2 - $51.02 $ 57.5921%4,626,992
T Rowe Price Equity Income Fund 2017-06-30 Reduce -1.99%0.02%$46.2 - $51.01 $ 57.5921%3,945,000
Donald Yacktman 2017-06-30 Reduce -0.45%0.01%$46.2 - $51.02 $ 57.5921%3,806,188
Charles Brandes 2017-06-30 Reduce -15.43%0.38%$46.2 - $51.02 $ 57.5921%2,986,091
Third Avenue Management 2017-06-30 Reduce -0.32%0.01%$46.2 - $51.02 $ 57.5921%1,762,417
HOTCHKIS & WILEY 2017-06-30 Reduce -1.00%$46.2 - $51.02 $ 57.5921%1,119,515
John Rogers 2017-06-30 Reduce -0.02%$46.2 - $51.02 $ 57.5921%112,837
David Dreman 2017-06-30 Add 16.41%0.22%$46.2 - $51.02 $ 57.5921%54,495
Ken Fisher 2017-06-30 Add 2.65%$46.2 - $51.01 $ 57.5921%8,246
Joel Greenblatt 2017-06-30 Reduce -15.71%$46.2 - $51.02 $ 57.5921%6,004
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Preferred stocks of Bank of New York Mellon Corp

SymbolPriceYieldDescription
BKNML.PFD950.005.20
BKpC.PFD25.093.89Deposit Shs Repr 1/4000 5.2 % Non Cum Pfd Shs Series -C- PDF

Business Description

Industry: Asset Management » Asset Management    NAICS: 523920    SIC: 6282
Compare:NYSE:BX, NYSE:STT, OSTO:INVE B, XMCE:CABK, NAS:TROW, NYSE:BLK, NAS:NTRS, TPE:2882, NYSE:AMP, XSWX:PGHN, NYSE:BEN, XBRU:GBLB, MIL:EXO, XPAR:AMUN, XAMS:HAL, HKSE:01359, HKSE:02799, SHSE:600958, LSE:SDR, NYSE:IVZ » details
Traded in other countries:BK.Argentina, BONY34.Brazil, BN9.Germany, BK.Mexico,
Headquarter Location:USA
Bank of New York Mellon Corporation is an investment company. The company provides investment management, investment services and wealth management that help institutions and individuals succeed in markets all over the world.

BNY Mellon is a global investment company involved in the management and servicing of financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors, and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with over $32 trillion in under custody and administration, and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investment.

Guru Investment Theses on Bank of New York Mellon Corp

Mario Gabelli Comments on Bank of New York Mellon - Nov 09, 2017

Bank_of_New_York_Mellon_Corp._(3.2%)_(BK__$53.02__NYSE) (NYSE:BK) is a global leader in providing financial services to institutions and individuals. The company operates in more than one hundred markets worldwide and strives to be the global provider of choice for investment management and investment services. As of June 2017, the firm had $31.1 trillion in assets under custody and $1.8 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. We believe BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.

From Mario Gabelli (Trades, Portfolio)'s Gabelli Value 25 Fund's third-quarter 2017 shareholder commentary.

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Mario Gabelli Comments on Bank of New York Mellon Corp - Sep 15, 2017

Bank of New York Mellon Corp. (NYSE:BK) (3.1% of net asset as of June 30, 2017)(BK–$51.02–NYSE) is a global leader in providing financial services to institutions and individuals. The company operates in more than 100 markets worldwide and strives to be the global provider of choice for investment management and investment services. As of March 2017, the firm had $30.6 trillion in assets under custody and $1.7 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. We believe BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.

From Mario Gabelli (Trades, Portfolio)'s second-quarter Gabelli Value 25 Fund shareholder commentary.


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Mario Gabelli Comments on Bank of New York Mellon Corp - Aug 18, 2017

Bank_of_New_York_Mellon_Corp._(NYSE:BK)(1.3%)_(BK__$51.02__NYSE) is a global leader in providing financial services to institutions and individuals. The company operates in more than 100 markets worldwide and strives to be the global provider of choice for investment management and investment services. As of March 2017, the firm had $30.6 trillion in assets under custody and $1.7 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. We believe BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.


From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund second quarter 2017 shareholder letter.

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Mario Gabelli Comments on Bank of New York Mellon Corp - Aug 18, 2017

Bank_of_New_York_Mellon_Corp._(NYSE:BK)(1.3%)_(BK__$51.02__NYSE) is a global leader in providing financial services to institutions and individuals. The company operates in more than 100 markets worldwide and strives to be the global provider of choice for investment management and investment services. As of March 2017, the firm had $30.6 trillion in assets under custody and $1.7 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. We believe BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.


From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund second quarter 2017 shareholder letter.

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Jeff Auxier Comments on Bank of New York - Aug 03, 2017

Bank of New York (NYSE:BK) recently added an exceptional CEO in Charles Scharf who helped lead Visa in technology and international expansion. The company is benefitting from the relaxation in capital requirements and higher short-term interest rates. They are returning $4 billion to shareholders while raising the dividend 26% to $0.24.



From Jeff Auxier (Trades, Portfolio)'s second-quarter 2017 shareholder letter.

Check out Jeff Auxier latest stock trades

Mario Gabelli Comments on Bank of New York Mellon Corp - May 10, 2017

Bank of New York Mellon Corp. (2.9% of net assets as of March 31, 2017) (BK – $47.23 – NYSE) (NYSE:BK) is a global leader in providing financial services to institutions and individuals. The company operates in more than 100 markets worldwide and strives to be the global provider of choice for investment management and investment services. As of December 31, 2016, the firm had $30.0 trillion in assets under custody and $1.7 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. We believe BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.

From Mario Gabelli (Trades, Portfolio)'s Gabelli Equity Income Fund 2017 first quarter shareholder commentary.

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Jeff Auxier Comments on Bank of New York - May 09, 2017

Banks in general declined off euphoric post-election highs although Bank of New York (NYSE:BK) still sells at a significant discount to the market and will benefit greatly if interest rates normalize.

After a difficult global earnings and revenue environment for over six quarters, we are seeing a pickup in sales and earnings for our core positions as many economies have seemed to stabilize. Domestically, the ISM services index still shows good improvement over 55%. We work hard at monitoring fundamentals to be able to catch the turn. While we are concerned with making good buys, it is also important to monitor highly valued “high expectation” stocks that can suffer painful drops when results fall short. We are looking for high integrity, dynamic management teams that can build value in any environment. We have learned over the years that having the cumulative knowledge of specific businesses, cash flows and balance sheets is far more important than being a market operator. When focusing on the power of compounding, it is critical to quantify and constantly assess risk through an in-depth knowledge of facts and valuation with a focus on the growth in underlying per share intrinsic value. At the core of mitigating risk is understanding the asset and the fundamentals. The problem with the proliferation of exchange traded funds is that nobody truly understands what they own as individual businesses. Most are following momentum. The real value added comes when markets drop and you really need to know the individual fundamentals at the height of panic. Many of the top Fund positions we have owned for 20-30 years. We want to be prepared daily and know ahead of time what we want to own. Then when the market drops we are ready to act. I love to study great coaches and in particular legendary UCLA basketball coach John Wooden who had preached that “the will to win is not nearly as important as the will to prepare to win.” We see the will to grind out daily research as integral to prepare for difficult times and improve the odds of protecting our clients’ life savings.




From Jeff Auxier (Trades, Portfolio)'s Auxier Asset Management first quarter 2017 shareholder letter.

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Third Avenue Management Comments on Bank of New York Mellon - Apr 21, 2017

Our investment premise for Bank of New York Mellon (NYSE:BK) is that it is a strong book value compounder that is substantially "under-earning" its profitability potential. The Company has undertaken significant cost savings initiatives, which combined with market-leading digital platform investments, should drive future growth and market share gains. The Company's balance sheet is strong with significant excess capital enabling a sizable return of capital to shareholders through both dividend and share buybacks. Lastly, with activist interest still high, any loss of momentum could lead to renewed calls for a break-up of the company to accelerate closure of the discount to NAV.

BK's book value and tangible book value growth both inflected positively in 2016 over its three-year trailing averages, over and above strong buyback and dividend activity, and we see this growth as set to accelerate with stronger earnings. Earnings Per Share (EPS) growth finally reaccelerated in 2015 and 2016, to $2.85 and $3.17, respectively, after languishing in the low-$2 per share range from 2011 to 2014. Management, spurred by activist pressure and new board members in 2014, has accelerated its cost reduction efforts and has committed to positive operating leverage regardless of the revenue growth environment. The results of this focus are clearly seen in 4Q 2016 earnings where non-interest expenses fell 2.1% while revenues grew 1.7%, generating 351 basis points of positive operating leverage. This cost-cutting focus is a key tenant of our investment case and an underlying pillar of why we believe BK shares can outperform regardless of the broader market environment. Further, while this cost reduction focus was started in 2014 when falling interest rates and meager corporate activity were suppressing revenues, we think the current tailwinds of higher interest rates and better corporate activity should also accelerate revenue growth, providing even stronger earnings leverage over the next few years that could push 2018 EPS to the $4.00 per share level.

More compelling to us is the fact that BK's cost reduction efforts are not just aimed at rote headcount reductions. BK has been aggressively investing in its new Nexen platform, an open-source, cloud-based technology platform aimed at improving client efficiency and flexibility. This platform will both help to drive revenue growth and likely share gains through its forward looking client-responsive features, and also dramatically lower costs as it is replacing legacy server based systems and consolidating multiple client access points to just one.

BK's strong balance sheet metrics continued to improve in 2016 (Common Equity Tier 1 ratio of 12.3%, up from 11.5% year over year), over and above its substantial return of value to shareholders in dividends ($778 million) and share buybacks ($2.4 billion). Management has committed to continued strong dividends (90%400% payout ratio) and share buybacks for 2017. The buybacks are having a dramatic effect on the company, as the fully diluted share count declined 3.6% in 2016 and fell 12.3% over the last 5-years.

Despite the strong credit and earnings metrics at BK, its shares underperformed the S&P 500 post-election, up 7.6% through March 31, 2017 vs. 10.4% for the S&P 500. Moreover, BK is currently trading towards the lower end of its price-to-book and price-to-earnings ranges for the last 10 years. While we continue to take a 3-5 year view on BK, even a near term price target for 2018 at a 15x price earnings ratio on $4.00 EPS would yield a $60 stock price, which is more than 26% above current levels. Clearly we see significant value in Bank of New York Mellon, regardless of overall market levels currently.



From Third Avenue Management (Trades, Portfolio)'s Value Fund first quarter 2017 commentary.

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Mario Gabelli Comments on Bank of New York Mellon Corp - Nov 02, 2016

Bank of New York Mellon Corp. (NYSE:BK) (2.6% of net assets as of September 30, 2016) (BK – $39.88 – NYSE) is a global leader in providing financial services to institutions and individuals. The company operates in more than one hundred markets worldwide and strives to be the global provider of choice for investment management and investment services. As of June 30, 2016, the firm had $29.5 trillion in assets under custody and $1.7 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. We believe BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.



From Mario Gabelli (Trades, Portfolio)'s Equity Income Fund 3rd quarter 2016 commentary.

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GAMCO Investors Comments on Bank of New York Mellon Corp - Oct 28, 2016

Bank of New York Mellon Corp. (NYSE:BK) (2.4% of net assets as of September 30, 2016) (BK – $39.88 – NYSE) is a global leader in providing financial services to institutions and individuals. The company operates in more than one hundred markets worldwide and strives to be the global provider of choice for investment management and investment services. As of June 30, 2016, the firm had $29.5 trillion in assets under custody and $1.7 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.



The Gabelli Value 25 Fund third quarter 2016 commentary.



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Mario Gabelli Comments on Bank of New York Mellon Corp - Jul 26, 2016

Bank of New York Mellon Corp. (NYSE:BK)(1.0% of net assets as of June 30, 2016) (BK – $38.85 – NYSE) is a global leader in providing financial services to institutions and individuals. The company operates in more than one hundred markets worldwide and strives to be the global provider of choice for investment management and investment services. As of March 31, 2016, the firm had $29.1 trillion in assets under custody and $1.6 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.

From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund second quarter 2016 commentary.

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Mario Gabelli Comments on Bank of New York Mellon Corp - Jul 25, 2016

Bank of New York Mellon Corp. (NYSE:BK) (1.0% of net assets as of June 30, 2016) (BK – $38.85 – NYSE) is a global leader in providing financial services to institutions and individuals. The company operates in more than one hundred markets worldwide and strives to be the global provider of choice for investment management and investment services. As of March 31, 2016, the firm had $29.1 trillion in assets under custody and $1.6 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.





From the Gabelli ABC Merger Arbitrage Fund second quarter 2016 shareholder letter.



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Top Ranked Articles about Bank of New York Mellon Corp

BNY Mellon's Pershing Advisor Solutions Selected as Custodial Partner by Newly Launched Dakota Wealth Management
BNY Mellon Wealth Management Names Stephen A. Colella as Wealth Director in Boston, Massachusetts
BNY Mellon and Texas Treasury Safekeeping Trust Company to Exchange Ownership Stakes in Amherst Capital for Minority Interest in Amherst Holdings
Mario Gabelli's Top Buys of the 1st Quarter An insurance company, a paper maker and an IT solutions provider for Homeland Security were among the top buys
Mario Gabelli (Trades, Portfolio)’s GAMCO Investors kicked off three major positions in the first quarter of the year. Read more...
Recent Analysis Shows Amkor Technology, Nielsen Holdings Plc, Dean Foods, Citizens Financial Group, The Bank of New York Mellon, and Zimmer Biomet Market Influences — Renewed Outlook, Key Drivers of Growth
BNY Mellon's Pershing Adds Capital First Trust Company to Its Trust Network
BNY Mellon Renews Presenting Sponsorship with Head Of The Charles Regatta® Through 2022
Endowment Plans Beat First Dip in Plan Sponsor Returns Since 3Q 2016, according to BNY Mellon U.S. Master Trust Universe/Asset Strategy View®
BNY Mellon Names Veteran Engineer Nitin Chandel to Lead BNY Mellon Technology, India
INSITE 2018 Announces Its Conference Agenda; Convenes Leading Experts, Thinkers and Business Leaders

Ratios

vs
industry
vs
history
PE Ratio 14.40
BK's PE Ratio is ranked lower than
55% of the 864 Companies
in the Global Asset Management industry.

( Industry Median: 13.60 vs. BK: 14.40 )
Ranked among companies with meaningful PE Ratio only.
BK' s PE Ratio Range Over the Past 10 Years
Min: 8.16  Med: 15.09 Max: 42.69
Current: 14.4
8.16
42.69
Forward PE Ratio 13.83
BK's Forward PE Ratio is ranked lower than
66% of the 121 Companies
in the Global Asset Management industry.

( Industry Median: 12.18 vs. BK: 13.83 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 14.40
BK's PE Ratio without NRI is ranked lower than
54% of the 862 Companies
in the Global Asset Management industry.

( Industry Median: 13.86 vs. BK: 14.40 )
Ranked among companies with meaningful PE Ratio without NRI only.
BK' s PE Ratio without NRI Range Over the Past 10 Years
Min: 8.16  Med: 15.38 Max: 36.95
Current: 14.4
8.16
36.95
Price-to-Owner-Earnings 13.61
BK's Price-to-Owner-Earnings is ranked lower than
53% of the 364 Companies
in the Global Asset Management industry.

( Industry Median: 13.47 vs. BK: 13.61 )
Ranked among companies with meaningful Price-to-Owner-Earnings only.
BK' s Price-to-Owner-Earnings Range Over the Past 10 Years
Min: 4.59  Med: 14.03 Max: 168.08
Current: 13.61
4.59
168.08
PB Ratio 1.52
BK's PB Ratio is ranked lower than
66% of the 1124 Companies
in the Global Asset Management industry.

( Industry Median: 1.05 vs. BK: 1.52 )
Ranked among companies with meaningful PB Ratio only.
BK' s PB Ratio Range Over the Past 10 Years
Min: 0.64  Med: 1.19 Max: 4.44
Current: 1.52
0.64
4.44
PS Ratio 3.85
BK's PS Ratio is ranked higher than
57% of the 935 Companies
in the Global Asset Management industry.

( Industry Median: 4.74 vs. BK: 3.85 )
Ranked among companies with meaningful PS Ratio only.
BK' s PS Ratio Range Over the Past 10 Years
Min: 1.46  Med: 2.9 Max: 4.82
Current: 3.85
1.46
4.82
Price-to-Free-Cash-Flow 15.29
BK's Price-to-Free-Cash-Flow is ranked lower than
53% of the 309 Companies
in the Global Asset Management industry.

( Industry Median: 15.34 vs. BK: 15.29 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
BK' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 4.95  Med: 13.05 Max: 117.5
Current: 15.29
4.95
117.5
Price-to-Operating-Cash-Flow 11.97
BK's Price-to-Operating-Cash-Flow is ranked higher than
51% of the 535 Companies
in the Global Asset Management industry.

( Industry Median: 13.15 vs. BK: 11.97 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
BK' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 4.46  Med: 11.87 Max: 127.71
Current: 11.97
4.46
127.71
EV-to-Revenue -1.13
BK's EV-to-Revenue is ranked lower than
99.99% of the 904 Companies
in the Global Asset Management industry.

( Industry Median: 5.08 vs. BK: -1.13 )
Ranked among companies with meaningful EV-to-Revenue only.
BK' s EV-to-Revenue Range Over the Past 10 Years
Min: -6.1  Med: -2.7 Max: 4
Current: -1.13
-6.1
4
Shiller PE Ratio 26.97
BK's Shiller PE Ratio is ranked lower than
67% of the 258 Companies
in the Global Asset Management industry.

( Industry Median: 19.53 vs. BK: 26.97 )
Ranked among companies with meaningful Shiller PE Ratio only.
BK' s Shiller PE Ratio Range Over the Past 10 Years
Min: 8.15  Med: 16.77 Max: 28.09
Current: 26.97
8.15
28.09

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield % 1.68
BK's Dividend Yield % is ranked lower than
80% of the 1118 Companies
in the Global Asset Management industry.

( Industry Median: 3.61 vs. BK: 1.68 )
Ranked among companies with meaningful Dividend Yield % only.
BK' s Dividend Yield % Range Over the Past 10 Years
Min: 1.11  Med: 1.76 Max: 5.26
Current: 1.68
1.11
5.26
Dividend Payout Ratio 0.23
BK's Dividend Payout Ratio is ranked higher than
97% of the 640 Companies
in the Global Asset Management industry.

( Industry Median: 9999.00 vs. BK: 0.23 )
Ranked among companies with meaningful Dividend Payout Ratio only.
BK' s Dividend Payout Ratio Range Over the Past 10 Years
Min: 0.17  Med: 0.25 Max: 0.79
Current: 0.23
0.17
0.79
3-Year Dividend Growth Rate 9.20
BK's 3-Year Dividend Growth Rate is ranked higher than
63% of the 393 Companies
in the Global Asset Management industry.

( Industry Median: 3.70 vs. BK: 9.20 )
Ranked among companies with meaningful 3-Year Dividend Growth Rate only.
BK' s 3-Year Dividend Growth Rate Range Over the Past 10 Years
Min: -26.9  Med: 8.35 Max: 26.4
Current: 9.2
-26.9
26.4
Forward Dividend Yield % 1.66
BK's Forward Dividend Yield % is ranked lower than
82% of the 1046 Companies
in the Global Asset Management industry.

( Industry Median: 4.02 vs. BK: 1.66 )
Ranked among companies with meaningful Forward Dividend Yield % only.
N/A
5-Year Yield-on-Cost % 2.66
BK's 5-Year Yield-on-Cost % is ranked lower than
68% of the 1387 Companies
in the Global Asset Management industry.

( Industry Median: 4.29 vs. BK: 2.66 )
Ranked among companies with meaningful 5-Year Yield-on-Cost % only.
BK' s 5-Year Yield-on-Cost % Range Over the Past 10 Years
Min: 1.76  Med: 2.78 Max: 8.32
Current: 2.66
1.76
8.32
3-Year Average Share Buyback Ratio 3.20
BK's 3-Year Average Share Buyback Ratio is ranked higher than
85% of the 628 Companies
in the Global Asset Management industry.

( Industry Median: -1.50 vs. BK: 3.20 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
BK' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -16.9  Med: -0.55 Max: 3.2
Current: 3.2
-16.9
3.2

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 3.71
BK's Price-to-Tangible-Book is ranked lower than
81% of the 1064 Companies
in the Global Asset Management industry.

( Industry Median: 1.08 vs. BK: 3.71 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
BK' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.49  Med: 3.58 Max: 11.2
Current: 3.71
0.49
11.2
Price-to-Intrinsic-Value-Projected-FCF 1.04
BK's Price-to-Intrinsic-Value-Projected-FCF is ranked higher than
61% of the 306 Companies
in the Global Asset Management industry.

( Industry Median: 1.16 vs. BK: 1.04 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
BK' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.4  Med: 0.86 Max: 6.26
Current: 1.04
0.4
6.26
Price-to-Median-PS-Value 1.33
BK's Price-to-Median-PS-Value is ranked lower than
71% of the 629 Companies
in the Global Asset Management industry.

( Industry Median: 1.02 vs. BK: 1.33 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
BK' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.2  Med: 1.07 Max: 5.97
Current: 1.33
0.2
5.97
Price-to-Graham-Number 1.54
BK's Price-to-Graham-Number is ranked lower than
70% of the 635 Companies
in the Global Asset Management industry.

( Industry Median: 0.91 vs. BK: 1.54 )
Ranked among companies with meaningful Price-to-Graham-Number only.
BK' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 0.29  Med: 1.65 Max: 3.47
Current: 1.54
0.29
3.47

More Statistics

Revenue (TTM) (Mil) $15,453.00
EPS (TTM) $ 4.00
Beta0.96
Volatility17.47%
52-Week Range $46.49 - 58.99
Shares Outstanding (Mil)1,010.68

Analyst Estimate

Dec18 Dec19 Dec20
Revenue (Mil $) 16,782 17,249 17,533
EBIT (Mil $)
EBITDA (Mil $)
EPS ($) 4.17 4.54 4.80
EPS without NRI ($) 4.17 4.54 4.80
EPS Growth Rate
(Future 3Y To 5Y Estimate)
9.30%
Dividends per Share ($) 1.04 1.21 1.23

Piotroski F-Score Details

Piotroski F-Score: ----
Positive ROAN
Positive CFROAN
Higher ROA yoyN
CFROA > ROAN
Lower Leverage yoyN
Higher Current Ratio yoyN
Less Shares Outstanding yoyN
Higher Gross Margin yoyN
Higher Asset Turnover yoyN

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