- Bank of New York Mellon reports first-quarter earnings per share of 52 cents, matching the consensus estimate.
- Net interest revenue grew 10% year-over-year.
- Fee revenue increased 3% sequentially, but was unchanged from a year earlier.
|Bank of New York CEO Gerald L. Hassell|
Bank of New York Mellon's shares closed at $23.80 Tuesday, returning 20% year to date, following a 33% drop during 2011.The shares trade for 11 times the consensus 2013 EPS estimate of $2.52. The consensus 2012 EPS estimate is $2.25. Bank of New York repurchased $371 million in common shares during the first quarter. Based on a 13-cent quarterly payout, the shares have a dividend yield of 2.18%. Interested in more on Bank of New York Mellon? See TheStreet Ratings' report card for this stock. -- Written by Philip van Doorn in Jupiter, Fla. To contact the writer, click here: Philip van Doorn. To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn.