Fiserv earnings missed by $0.61, revenue fell short of estimates
The Bank of New York Mellon Corp (NYSE:BK), currently trading near its 52-week high at $108.66 and commanding a market capitalization of $76.9 billion, filed a Certificate of Elimination on Tuesday with the Secretary of State of Delaware, removing all matters related to its Series G Noncumulative Perpetual Preferred Stock from its Restated Certificate of Incorporation. This action follows the redemption of all outstanding shares of the Series G Preferred Stock on Saturday.
According to the company’s statement in the SEC filing, the elimination became effective upon filing. The Certificate of Elimination, which formalizes the removal of the Series G Preferred Stock designation, was included as an exhibit to the report. The bank, which has maintained dividend payments for 55 consecutive years and shows strong momentum with a 55% return over the past year, appears slightly undervalued according to InvestingPro analysis.
Bank of New York Mellon’s common stock and other preferred securities continue to be listed on the New York Stock Exchange under the symbols BK, BK/P, and BK PRK.
This information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, BNY Mellon reported robust financial results for the second quarter of 2025, surpassing analysts’ expectations. The company achieved an earnings per share (EPS) of $1.94, exceeding the forecasted $1.75, and its revenue reached $5.03 billion, outpacing the projected $4.78 billion. Additionally, BNY Mellon announced a reduction in its Prime Lending Rate by 0.25 percentage points to 7.25%, effective September 18, 2025. In another development, the company priced a $500 million preferred stock offering with a 5.95% dividend rate. Truist Securities raised its price target for BNY Mellon to $100 from $97, maintaining a Hold rating. Keefe, Bruyette & Woods also increased their price target to $113 from $105, citing the company’s impressive quarterly performance. These updates reflect BNY Mellon’s strong financial standing and strategic adjustments in the market.
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