Short Term Price Target on Bank Of New York Mellon Corporation (The) (BK)

Bank Of New York Mellon Corporation (The) (NYSE:BK) : The highest level Bank Of New York Mellon Corporation (The) (NYSE:BK) is projected to reach is $51 for the short term and the lowest estimate is at $39. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $45.36 and the possibility the share price can swing is $3.29.

The Bank of New York Mellon Corporation has lost 6.48% in the last five trading days and dropped 8.05% in the last 4 weeks. The Bank of New York Mellon Corporation is up 5.64% in the last 3-month period. Year-to-Date the stock performance stands at -4.9%. Also, Equity Analysts at the Deutsche Bank maintains the rating on Bank Of New York Mellon Corporation (The) (NYSE:BK). The brokerage firm has issued a Buy rating on the shares. The Analysts at the ratings agency lowers the price target from $50 per share to $48 per share. The rating by the firm was issued on June 16, 2016.

Bank Of New York Mellon Corporation (The) (NYSE:BK) : Zacks Investment Research ranks Bank Of New York Mellon Corporation (The) (NYSE:BK) as 3, which is a Hold recommendation. 6 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 2 other analysts are mildly bullish on the stock and favor a Buy. Not everyone is convinced about the stocks future, hence, the stock receives 1 Sell recommendation. A total of 5 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 14 research analysts is 2.05, which indicates as a Buy.

Bank Of New York Mellon Corporation (The) (NYSE:BK): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $38.45 and $37.97 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.87. The buying momentum continued till the end and the stock did not give up its gains. It closed at $38.85, notching a gain of 2.24% for the day. The total traded volume was 7,417,409 . The stock had closed at $38.00 on the previous day.

In an insider trading activity,The director officer (Chairman & CEO) of Bank Of New York Mellon Corp, Hassell Gerald L sold 24,598 shares at $40.76 on May 19, 2016. The Insider selling transaction had a total value worth of $1,002,614. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

The Bank of New York Mellon Corporation is a provider of financial products and services in domestic and international markets. Through its two principal businesses, Investment Management and Investment Services, it serves institutions, corporations and high net worth individuals. For institutions and corporations, it provides investment management, trust and custody, foreign exchange, fund administration, global collateral services, securities lending, depositary receipts, corporate trust, global payment/cash management, banking services and clearing services. For individuals, it provides mutual funds, separate accounts, wealth management and private banking services. BNY Mellons investment management businesses provide investment products in different asset classes and investment styles. The Company has $28.5 trillion in assets under custody and/or administration and $1.7 trillion in assets under management as of December 31, 2014.

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