Shares of Bank of New York Mellon Corp. were little changed in premarket trading Tuesday, after the banking and trust and custody company reported fourth-quarter profit that matched expectations and revenue that topped forecasts. Net income rose to $822 million, or $1.01 a share, from $702 million, or 79 cents a share, in the year-ago period, compared with the FactSet consensus for earnings per share of $1.01. Total revenue rose 4.5% to $4.02 billion, above the FactSet consensus of $3.97 billion, as net interest income slipped 0.4% to $677 million but topped expectations of $661.5 million. Among business segments, security services revenue rose 5% to $1.83 billion, market and wealth services revenue grew 1% to $1.17 billion and investment and wealth management revenue rose 3% to $1.02 billion. The bank said it repurchases $1.2 billion of its shares and paid out $280 million in dividends. The stock has rallied 10.8% over the past three months while the S&P 500 has gained 3.9%.
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