Company Update (NYSE:BK): BNY Mellon Announces Lisa Dolly as the Next Chief Executive Officer of Pershing LLC

[PR Newswire] – JERSEY CITY, N.J., Feb. 4, 2016 /PRNewswire/ — Pershing LLC, a BNY Mellon company and a leading provider of global financial business solutions, today announced that Lisa Dolly has been named as the company’s new chief executive officer, effective February 16, 2016. Dolly, currently the firm’s chief operating officer, succeeds Ron DeCicco, who after a long and distinguished 45-year career with Pershing, has decided to retire from his role as chief executive officer of Pershing. As part of the leadership transition, he will serve as an executive advisor over the next year working closely with Dolly, Pershing’s executive committee and key clients. Read more on this. The Bank of New York Mellon Corporation (BK) , currently valued at $37.77B, began trading this morning at $34.27. A quick look at the market, the company’s stock traded between $34.15 and $35.21 with a one year range of $33.16 to $45.45. BK shares are currently priced at 11.30x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 11.68x forward p/e ratio. And for dividend hunters, the company pays shareholders $0.68 per share annually in dividends, yielding 1.92%. According to a consensus of 18 analysts, the earnings estimate of $0.68 per share would be $0.01 better than the year-ago quarter and a $0.03 sequential decrease. Investors should also note that the full-year EPS estimate of $3.04 is a $0.19 better when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.75 Billion. If realized, that would be a 0.27% decrease over the year-ago quarter. Recently, JP Morgan upgraded BK from Neutral to Overweight (Jan 7, 2016). Previously, BofA/Merrill upgraded BK from Neutral to Buy. Investors should keep in mind is that the average price target is $44.11, which is 28.71% above where the stock opened this morning. See more in (NYSE:BK) Similar Articles: Company Update: The Bank of New York Mellon Corporation (NYSE:BK) – BNY Mellon’s Pershing Prime Services Unit Named Best Prime Broker–Innovation by HFM US Services Award for Second Consecutive Year Company Update (NYSE:BK): BNY Mellon’s Pershing Enhances its Retirement Plan Network with the Addition of Third-Party Model Providers Market Update: The Bank of New York Mellon Corporation (NYSE:BK) – BNY Mellon’s Pershing Study: Broker-Dealers Need to Rethink Their Strategies In Order To Attract and Retain Top Clients
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