Capital ReturnCapital return trends were solid with BK buying back $988mn of stock, above estimates, bumping up authorization to $6bn.
EarningsBNY Mellon (BK) shares outperformed trust bank peers after reporting better-than-expected 1Q24 core EPS.
Revenue GrowthTotal fee revenues increased 5% year-over-year, driven by strength in Clearance/Collateral Management, better results in Asset Servicing, and higher Investment Management Fees.