Bank of New York Mellon Corp (BK) is Reiterated by RBC Capital Mkts to Sector Perform, Lowers Price Target to $ 40

Bank of New York Mellon Corp (BK) was Reiterated by RBC Capital Mkts to “Sector Perform” while Lowering the Price Target of the company shares to $ 40 from a previous price target of $44 . RBC Capital Mkts advised their investors in a research report released on Apr 11, 2016.

On the company’s financial health, Bank of New York Mellon Corp reported $0.68 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $0.64. The company had revenue of $3726.00 million for the quarter, compared to analysts expectations of $3751.20 million. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 EPS.

Bank of New York Mellon Corp opened for trading at $35.76 and hit $36.14 on the upside on Monday, eventually ending the session at $35.86, with a gain of 1.04% or 0.37 points. The heightened volatility saw the trading volume jump to 40,04,745 shares. Company has a market cap of $38,578 M.

In a different news, on Nov 20, 2015, Schack Wesley W Von (director) sold 7,436 shares at $43.46 per share price. According to the SEC, on Nov 2, 2015, Karen B Peetz (President) sold 42,015 shares at $42.50 per share price. On Oct 28, 2015, Gerald L Hassell (Chairman & CEO) sold 30,000 shares at $41.91 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Mellon’s 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.

Bank of New York Mellon Corp

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