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Bank of New York Mellon

DB:BN9
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
BN9
DB
$42B
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The last earnings update was 68 days ago. More info.


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BN9 Share Price and Events
7 Day Returns
-2%
DB:BN9
-2.6%
DE Capital Markets
-1.8%
DE Market
1 Year Returns
-14.7%
DB:BN9
-8.8%
DE Capital Markets
-6.7%
DE Market
BN9 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Bank of New York Mellon (BN9) -2% -1.8% -17.2% -14.7% 7.6% 36.1%
DE Capital Markets -2.6% 4.9% 1.2% -8.8% -6.6% -40.4%
DE Market -1.8% 1.6% -1.6% -6.7% 10.1% 11%
1 Year Return vs Industry and Market
  • BN9 underperformed the Capital Markets industry which returned -8.8% over the past year.
  • BN9 underperformed the Market in Germany which returned -6.7% over the past year.
Price Volatility
BN9
Industry
5yr Volatility vs Market

Value

 Is Bank of New York Mellon undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Bank of New York Mellon to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Bank of New York Mellon.

DB:BN9 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 13 analysts.
= Stable Book Value * Return on Equity
= $43.25 * 9.9%
$4.30
Book Value of Equity per Share Weighted future Book Value estimates from 10 analysts. $43.25
Discount Rate (Cost of Equity) See below 8.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:BN9
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.65
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.65 (1 + (1- 21%) (166.45%))
1.338
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.338 * 5.96%)
8.2%

Discounted Cash Flow Calculation for DB:BN9 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Bank of New York Mellon is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:BN9 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9.9% – 8.2%) * $43.25)
$0.75
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $0.75 / (8.2% - 0.23%)
$9.38
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $43.25 + $9.38
$52.63
DB:BN9 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:BN9 represents 0.89455x of NYSE:BK
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89455x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 52.63 x 0.89455
€47.08
Value per share (EUR) From above. €47.08
Current discount Discount to share price of €38.60
= -1 x (€38.60 - €47.08) / €47.08
18%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Bank of New York Mellon is available for.
Intrinsic value
18%
Share price is €38.6 vs Future cash flow value of €47.08
Current Discount Checks
For Bank of New York Mellon to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Bank of New York Mellon's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Bank of New York Mellon's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Bank of New York Mellon's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Bank of New York Mellon's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:BN9 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $3.89
NYSE:BK Share Price ** NYSE (2019-07-15) in USD $43.15
Germany Capital Markets Industry PE Ratio Median Figure of 19 Publicly-Listed Capital Markets Companies 24.29x
Germany Market PE Ratio Median Figure of 419 Publicly-Listed Companies 20.05x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Bank of New York Mellon.

DB:BN9 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BK Share Price ÷ EPS (both in USD)

= 43.15 ÷ 3.89

11.09x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bank of New York Mellon is good value based on earnings compared to the DE Capital Markets industry average.
  • Bank of New York Mellon is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Bank of New York Mellon's expected growth come at a high price?
Raw Data
DB:BN9 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
-0.3%per year
Germany Capital Markets Industry PEG Ratio Median Figure of 8 Publicly-Listed Capital Markets Companies 2.61x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

DB:BN9 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.09x ÷ -0.3%

-32.28x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bank of New York Mellon earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Bank of New York Mellon's assets?
Raw Data
DB:BN9 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $39.35
NYSE:BK Share Price * NYSE (2019-07-15) in USD $43.15
Germany Capital Markets Industry PB Ratio Median Figure of 29 Publicly-Listed Capital Markets Companies 1.98x
Germany Market PB Ratio Median Figure of 565 Publicly-Listed Companies 1.74x
DB:BN9 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BK Share Price ÷ Book Value per Share (both in USD)

= 43.15 ÷ 39.35

1.1x

* Primary Listing of Bank of New York Mellon.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Bank of New York Mellon is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Bank of New York Mellon's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Bank of New York Mellon has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Bank of New York Mellon expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-0.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Bank of New York Mellon expected to grow at an attractive rate?
  • Bank of New York Mellon's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Bank of New York Mellon's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Bank of New York Mellon's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:BN9 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:BN9 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts -0.3%
DB:BN9 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 0.1%
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 18.5%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 3.3%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:BN9 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:BN9 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 15,785 3,483 4
2020-12-31 16,007 3,812 13
2019-12-31 15,816 3,730 13
DB:BN9 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 16,112 5,899 3,848
2018-12-31 16,403 5,996 4,070
2018-09-30 16,130 4,077 4,361
2018-06-30 16,080 8,045 4,268
2018-03-31 15,902 5,039 4,133
2017-12-31 15,567 4,667 3,872
2017-09-30 15,616 8,065 3,563
2017-06-30 15,554 2,948 3,547
2017-03-31 15,376 3,228 3,446
2016-12-31 15,248 6,267 3,373
2016-09-30 15,028 1,699 3,192
2016-06-30 14,857 2,955 3,047

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Bank of New York Mellon's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Bank of New York Mellon's revenue is expected to grow by 0.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:BN9 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Bank of New York Mellon Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BN9 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 4.12 4.50 3.87 3.00
2020-12-31 4.28 4.55 3.85 20.00
2019-12-31 3.96 4.16 3.72 20.00
DB:BN9 Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 3.89
2018-12-31 4.06
2018-09-30 4.31
2018-06-30 4.18
2018-03-31 4.02
2017-12-31 3.74
2017-09-30 3.42
2017-06-30 3.39
2017-03-31 3.26
2016-12-31 3.16
2016-09-30 2.97
2016-06-30 2.81

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Bank of New York Mellon is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Bank of New York Mellon's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Bank of New York Mellon has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Bank of New York Mellon performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Bank of New York Mellon's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Bank of New York Mellon's year on year earnings growth rate has been positive over the past 5 years.
  • Bank of New York Mellon's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Bank of New York Mellon's 1-year earnings growth is negative, it can't be compared to the DE Capital Markets industry average.
Earnings and Revenue History
Bank of New York Mellon's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Bank of New York Mellon Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:BN9 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 16,112.00 3,848.00 9,422.00
2018-12-31 16,403.00 4,070.00 9,399.00
2018-09-30 16,130.00 4,361.00 9,273.00
2018-06-30 16,080.00 4,268.00 9,224.00
2018-03-31 15,902.00 4,133.00 9,173.00
2017-12-31 15,567.00 3,872.00 9,093.00
2017-09-30 15,616.00 3,563.00 8,791.00
2017-06-30 15,554.00 3,547.00 8,747.00
2017-03-31 15,376.00 3,446.00 8,703.00
2016-12-31 15,248.00 3,373.00 8,726.00
2016-09-30 15,028.00 3,192.00 8,723.00
2016-06-30 14,857.00 3,047.00 8,729.00
2016-03-31 14,964.00 3,052.00 8,769.00
2015-12-31 15,034.00 3,010.00 8,841.00
2015-09-30 15,159.00 2,591.00 8,852.00
2015-06-30 16,000.00 2,827.00 8,926.00
2015-03-31 15,865.00 2,554.00 8,953.00
2014-12-31 15,740.00 2,451.00 9,004.00
2014-09-30 15,657.00 2,745.00 9,093.00
2014-06-30 14,808.00 2,640.00 9,098.00
2014-03-31 15,095.00 2,912.00 9,202.00
2013-12-31 15,083.00 2,002.00 9,150.00
2013-09-30 15,156.00 2,112.00 9,049.00
2013-06-30 15,055.00 1,876.00 8,940.00
2013-03-31 14,647.00 1,518.00 8,772.00
2012-12-31 14,690.00 2,389.00 8,706.00
2012-09-30 14,474.00 2,284.00 8,601.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Bank of New York Mellon has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Bank of New York Mellon used its assets less efficiently than the DE Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Bank of New York Mellon improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Bank of New York Mellon's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Bank of New York Mellon has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Bank of New York Mellon's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Bank of New York Mellon's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Bank of New York Mellon's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Bank of New York Mellon's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Bank of New York Mellon's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Bank of New York Mellon Company Filings, last reported 3 months ago.

DB:BN9 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 41,469.00 68,043.00 125,484.00
2018-12-31 40,868.00 70,671.00 139,968.00
2018-09-30 41,861.00 62,809.00 130,105.00
2018-06-30 41,746.00 68,705.00 128,969.00
2018-03-31 42,124.00 77,565.00 147,806.00
2017-12-31 41,746.00 73,005.00 142,116.00
2017-09-30 41,104.00 68,974.00 129,090.00
2017-06-30 40,498.00 66,431.00 125,135.00
2017-03-31 39,831.00 64,770.00 112,059.00
2016-12-31 39,580.00 60,594.00 107,246.00
2016-09-30 40,373.00 58,866.00 137,935.00
2016-06-30 39,297.00 60,227.00 140,800.00
2016-03-31 39,285.00 65,040.00 148,581.00
2015-12-31 38,975.00 63,291.00 168,571.00
2015-09-30 39,199.00 58,012.00 144,085.00
2015-06-30 39,424.00 58,485.00 160,820.00
2015-03-31 38,880.00 58,455.00 162,471.00
2014-12-31 38,703.00 60,920.00 162,859.00
2014-09-30 39,598.00 58,768.00 167,656.00
2014-06-30 39,474.00 54,280.00 189,378.00
2014-03-31 38,969.00 53,170.00 165,804.00
2013-12-31 38,510.00 45,978.00 177,775.00
2013-09-30 37,983.00 52,821.00 177,417.00
2013-06-30 36,931.00 53,535.00 159,121.00
2013-03-31 36,674.00 50,871.00 154,217.00
2012-12-31 37,442.00 43,770.00 165,679.00
2012-09-30 37,139.00 54,803.00 145,622.00
  • Bank of New York Mellon's level of debt (164.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (136.5% vs 164.1% today).
  • Debt is not well covered by operating cash flow (8.7%, less than 20% of total debt).
  • Unable to confirm if the interest payments on Bank of New York Mellon's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Bank of New York Mellon's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Bank of New York Mellon has a total score of 1/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Bank of New York Mellon's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.6%
Current annual income from Bank of New York Mellon dividends. Estimated to be 2.91% next year.
If you bought €2,000 of Bank of New York Mellon shares you are expected to receive €52 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Bank of New York Mellon's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.48%).
  • Bank of New York Mellon's dividend is below the markets top 25% of dividend payers in Germany (3.85%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:BN9 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 2.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.1%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:BN9 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 1.41 6.00
2020-12-31 1.29 18.00
2019-12-31 1.17 18.00
DB:BN9 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-17 1.120 2.463
2019-01-16 1.120 2.150
2018-10-18 1.120 2.337
2018-08-01 1.120 2.164
2018-07-19 1.120 2.102
2018-04-19 0.960 1.726
2018-01-18 0.960 1.759
2017-10-19 0.960 1.794
2017-08-03 0.960 1.818
2017-07-20 0.960 1.796
2017-05-08 0.760 1.545
2017-04-20 0.760 1.608
2017-02-28 0.760 1.607
2017-01-19 0.760 1.660
2016-11-08 0.760 1.601
2016-10-20 0.760 1.755
2016-08-08 0.760 1.881
2016-07-21 0.760 1.927
2016-04-26 0.680 1.698
2016-04-21 0.680 1.662
2016-02-26 0.680 1.821
2016-01-21 0.680 1.959
2015-11-06 0.680 1.656
2015-10-20 0.680 1.609
2015-08-07 0.680 1.684
2015-07-21 0.680 1.546
2015-05-08 0.680 1.582
2015-04-22 0.680 1.591
2014-10-17 0.680 1.728
2014-07-18 0.680 1.755
2014-04-07 0.680 1.938
2013-10-16 0.600 1.816
2013-07-17 0.600 1.946
2013-04-09 0.600 2.075
2012-10-17 0.520 1.985
2012-07-18 0.520 2.314
2012-04-18 0.520 2.418
2012-01-18 0.520 2.321
2011-10-19 0.520 2.601
2011-07-19 0.520 2.529
2011-03-22 0.520 1.886
2011-01-19 0.360 1.175
2010-10-19 0.360 1.274
2010-07-20 0.360 1.410
2010-01-20 0.360 1.259
2009-10-20 0.360 1.307
2009-07-22 0.360 1.260
2009-04-21 0.360 1.280
2009-01-13 0.960 3.832
2008-10-14 0.960 3.370

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Bank of New York Mellon's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess Bank of New York Mellon's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Bank of New York Mellon afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Bank of New York Mellon has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Bank of New York Mellon's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Charlie Scharf
COMPENSATION $9,383,885
AGE 54
TENURE AS CEO 2 years
CEO Bio

Mr. Charles W. Scharf, also known as Charlie, has been Chief Executive Officer and Director of The Bank of New York Mellon Corporation since July 17, 2017 and has been its Chairman since January 1, 2018. He is the Chairman at The Bank of New York Mellon and BNY Mellon, National Association since January 1, 2018 and its Chief Executive Officer and President since July 17, 2017. Mr. Scharf served as the Chief Executive Officer of Visa Inc. from October 2012 to December 1, 2016. Before joining Visa, Mr. Scharf served as the Managing Director and Partner of One Equity Partners LLC (OEP Capital Advisors, L.P.) from 2011 to 2012. Mr. Scharf served as the Head of Retail Financial Services at JPMorgan Chase & Co. since May, 2002. He served as the Chief Executive Officer of Retail Financial Services at JPMorgan Chase & Co. from 2004 to June 2011. He served as Regional Director at USA Region of Visa, Inc. from October 2007 to January 27, 2011. Mr. Scharf served as Head of Retail Bank for JPMorgan Chase & Co., since May 2002. He served as the Chief Financial Officer/Executive Vice President of Banc One Corporation from June 12, 2000 to 2002, Chief Executive Officer of Retail Banking from May 2002 to July 2004 and also served as its President of Retail Banking. He served as Chief Financial Officer of Retail Banking of Bank One Corp. from 2000 to 2002. Mr. Scharf served as an Executive Vice President of Bank One Corporation since June 12, 2000. He helped in rebuilding the brand, expand the branch and ATM network and develop senior talent. He served as Chief Financial Officer at Citigroup Global Markets Limited. He served as Chief Financial Officer of the Global Corporate and Investment Bank of Citigroup from 1999 to 2000. Since 1995, Mr. Scharf served as Vice President and Chief Financial Officer of Smith Barney Holdings Inc after serving in a number of senior finance roles at Travelers companies, including Smith Barney, Primerica and Commercial Credit Corporation. He served as Chief Financial Officer of Salomon Smith Barney Inc. from 1997 to 1999 and its predecessor company from 1995 to 1999. He served as the Chief Financial Officer of Smith Barney (now Citigroup Global Markets Holdings Inc.) from 1995 to 1997. He served as Chief Financial Officer of The Travelers Companies, Inc. (formerly, Travelers Property Casualty Corp.). Mr. Scharf also held various financial positions with Travelers from 1987 to 1995. He serves as the Chairman of the New York City Ballet. He has been an Independent Director of Microsoft Corporation since October 1, 2014. He has been a Director of Visa International Service Association since October 2007. He served as a Director of Visa Inc. from October 2012 to December 1, 2016 and previously served as its Director from October 2007 to January 27, 2011. He served as Member of Supervisory Board of SMARTRAC N.V from June 19, 2012 to October 22, 2012. He previously served as a Director of Visa U.S.A. Inc. from October 2007 to January 2011 and again served as its Director since October 2012. He served as a Director of The St. Paul Companies Inc. from September 2002 to September 2005. He served as a Director of The Travelers Companies, Inc. from April 1, 2004 to September 2005. He is a Member of the Financial Services Roundtable and the Economic Club of Chicago as well as a Director of The Lyric Opera and Looking glass Theater. He is on the Board of Trustees for Johns Hopkins University. Mr. Scharf holds a Master of Business Administration degree from New York University and a Bachelor of Arts degree from The John Hopkins University.

CEO Compensation
  • Charlie's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Charlie's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Bank of New York Mellon management team in years:

2
Average Tenure
58
Average Age
  • The tenure for the Bank of New York Mellon management team is about average.
Management Team

Charlie Scharf

TITLE
Chairman & CEO
COMPENSATION
$9M
AGE
54
TENURE
2 yrs

Mike Santomassimo

TITLE
Senior EVP & CFO
COMPENSATION
$3M
AGE
44
TENURE
1.5 yrs

O'Connor Engle

TITLE
Senior EVP & Chief Information Officer
COMPENSATION
$6M
AGE
55
TENURE
2.1 yrs

Todd Gibbons

TITLE
Vice Chairman and CEO of Clearing
COMPENSATION
$7M
AGE
62
TENURE
12.5 yrs

Mitchell Harris

TITLE
Senior EVP & CEO of Investment Management
COMPENSATION
$9M
AGE
64
TENURE
8.2 yrs

Brian Ruane

TITLE
CEO of BNY Mellon Government Securities Services Corp. and Clearance & Collateral Management
TENURE
2.1 yrs

Lester Owens

TITLE
Senior EVP & Head of Operations
AGE
61
TENURE
0.4 yrs

Sabet Elias

TITLE
Chief Technology Officer
TENURE
0.8 yrs

Magda Palczynska

TITLE
Global Head of Investor Relations
TENURE
0.3 yrs

Mark Musi

TITLE
Chief Compliance & Ethics Officer
Board of Directors Tenure

Average tenure and age of the Bank of New York Mellon board of directors in years:

3
Average Tenure
61.5
Average Age
  • The tenure for the Bank of New York Mellon board of directors is about average.
Board of Directors

Charlie Scharf

TITLE
Chairman & CEO
COMPENSATION
$9M
AGE
54
TENURE
1.5 yrs

Sam Scott

TITLE
Independent Director
COMPENSATION
$271K
AGE
75
TENURE
12 yrs

Ted Kelly

TITLE
Independent Director
COMPENSATION
$280K
AGE
73
TENURE
12 yrs

Jeffrey Goldstein

TITLE
Independent Director
COMPENSATION
$270K
AGE
64
TENURE
5.3 yrs

Joe Echevarria

TITLE
Lead Director
COMPENSATION
$330K
AGE
62
TENURE
3.3 yrs

Steve Black

TITLE
Independent Director
COMPENSATION
$212K
AGE
67
TENURE
1.3 yrs

John Hinshaw

TITLE
Independent Director
COMPENSATION
$270K
AGE
49
TENURE
4.8 yrs

Liz Robinson

TITLE
Independent Director
COMPENSATION
$375K
AGE
50
TENURE
2.8 yrs

Linda Cook

TITLE
Independent Director
COMPENSATION
$250K
AGE
61
TENURE
2.6 yrs

Jennifer Morgan

TITLE
Independent Director
COMPENSATION
$250K
AGE
48
TENURE
2.6 yrs
Who owns this company?
Recent Insider Trading
  • Bank of New York Mellon individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
06. May 19 Sell Trian Fund Management, L.P. Company 02. May 19 03. May 19 -621,807 €44.78 €-27,836,000
02. May 19 Sell Jane McCarthy Individual 30. Apr 19 30. Apr 19 -25,000 €44.12 €-1,102,889
13. Mar 19 Sell Trian Fund Management, L.P. Company 11. Mar 19 13. Mar 19 -792,000 €46.25 €-36,500,616
05. Mar 19 Sell Kurtis Kurimsky Individual 01. Mar 19 01. Mar 19 -5,797 €46.58 €-270,049
20. Feb 19 Sell Charles Scharf Individual 15. Feb 19 15. Feb 19 -4,674 €47.00 €-219,688
20. Feb 19 Sell Bridget Engle Individual 15. Feb 19 15. Feb 19 -22,670 €47.00 €-1,065,538
29. Jan 19 Sell Trian Fund Management, L.P. Company 25. Jan 19 28. Jan 19 -2,107,000 €46.90 €-98,517,810
X
Management checks
We assess Bank of New York Mellon's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Bank of New York Mellon has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts. The company also provides mutual funds, separate accounts, and wealth management and private banking services; and trust and registered investment advisory services. In addition, it engages in leasing, corporate treasury, derivative and other trading, corporate and bank-owned life insurance, renewable energy investment, and business exit activities. The Bank of New York Mellon Corporation was founded in 1784 and is headquartered in New York, New York.

Details
Name: The Bank of New York Mellon Corporation
BN9
Exchange: DB
Founded: 1784
$37,050,506,384
957,517,268
Website: http://www.bnymellon.com
Address: The Bank of New York Mellon Corporation
240 Greenwich Street,
New York,
New York, 10286,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BK Common Stock New York Stock Exchange US USD 02. Jan 1969
DB BN9 Common Stock Deutsche Boerse AG DE EUR 02. Jan 1969
LSE 0HLQ Common Stock London Stock Exchange GB USD 02. Jan 1969
BMV BK * Common Stock Bolsa Mexicana de Valores MX MXN 02. Jan 1969
NYSE BK.PRC DP1/4000 PFD-C New York Stock Exchange US USD 14. Sep 2012
BOVESPA BONY34 EACH BDR REPR 1 COM STK USD0.01 Bolsa de Valores de Sao Paulo BR BRL 24. Aug 2015
DB A1HK20 PERP JR D NT4.5% Deutsche Boerse AG DE USD 14. May 2013
Number of employees
Current staff
Staff numbers
49,800
Bank of New York Mellon employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/15 21:54
End of day share price update: 2019/07/15 00:00
Last estimates confirmation: 2019/07/12
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.