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Bank of New York Mellon posts 4Q profit

The Bank of New York Mellon on Wall Street, New York.
Scott Mlyn | CNBC
The Bank of New York Mellon on Wall Street, New York.

Bank Of New York Mellon on Friday reported fourth-quarter net income of $831 million.

The bank, based in New York, said it had earnings of 70 cents per share. Earnings, adjusted for non-recurring gains, came to 58 cents per share.

The results missed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The trust bank posted revenue of $3.65 billion in the period, also falling short of Street forecasts. Analysts expected $3.78 billion, according to Zacks.

For the year, the company reported profit of $3.17 billion, or $2.67 per share. Revenue was reported as $15.53 billion.

Bank of New York Mellon shares have decreased roughly 5 percent since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. The stock has climbed 16 percent in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BK at http://www.zacks.com/ap/BK.