Bank of New York Mellon ( BK) - Get Report shares fell Friday after the custody bank registered revenue and earnings declines for the first quarter. Revenue dropped 5% from last year to $3.9 billion. Net income registered $932 million, or 97 cents per share, down from $962 million, or $1.05, a year ago. BNY Mellon has suffered from strong competition in the custody industry, which has pushed down prices for custody services. The FactSet analyst consensus called for earnings per share of 87 cents. The company’s stock recently traded at $46.72, down 2.7%, but has jumped 29% over the past six months amid a rally for bank stocks that has resulted from rising Treasury yields.