Bank of New York Mellon Q4 In Line on Earnings

Bank of New York Mellon Thursday reported earnings for Q4 that came in line with Street estimates and revenues that were lower than expected.

Non-GAAP diluted EPS was $0.77, up from last year’s $0.68, matching the Capital IQ consensus. Revenues grew year-over-year to $3.79 billion from $3.73 billion but still fell short of the mean estimate of $3.86 billion provided by Capital IQ.

Looking ahead, CEO Gerald L. Hassell said: “As we enter 2017, we continue to prioritize enhancing our clients’ experience with us in every way … from ease of access of information, to providing data-driven insights and solutions, to improving responsiveness to inquiries.”

The bank will be paying a quarterly dividend of $0.19 per common share on Feb. 10 to shareholders of record as of the close of business on Jan. 31.

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