Bank of New York Mellon Corp (BK) is Reiterated by UBS to Buy, Raises Price Target to $ 46

Bank of New York Mellon Corp (BK) was Reiterated by UBS to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 46 from a previous price target of $42 . UBS advised their investors in a research report released on Apr 22, 2016.

Many Wall Street Analysts have commented on Bank of New York Mellon Corp. Company shares were Reiterated by RBC Capital Mkts on Apr 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 44 from a previous price target of $40 .Shares were Reiterated by RBC Capital Mkts on Apr 11, 2016 to “Sector Perform” and Lowered the Price Target to $ 40 from a previous price target of $44 .

On the company’s financial health, Bank of New York Mellon Corp reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.68. The company had revenue of $3737.00 million for the quarter, compared to analysts expectations of $3715.95 million. The company’s revenue was down -.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.67 EPS.

Bank of New York Mellon Corp opened for trading at $40.17 and hit $40.95 on the upside on Wednesday, eventually ending the session at $40.7, with a gain of 2.47% or 0.98 points. The heightened volatility saw the trading volume jump to 84,06,655 shares. Company has a market cap of $43,785 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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