Price Target Update on Bank Of New York Mellon Corporation (The) (NYSE:BK)

Bank Of New York Mellon Corporation (The) (NYSE:BK) : 11 Wall Street analysts covering Bank Of New York Mellon Corporation (The) (NYSE:BK) believe that the average level the stock could reach for the short term is $45.36. The maximum price target given is $51 and the minimum target for short term is around $39, hence the standard deviation is calculated at $3.29.

Other Equity analysts have also commented on the company shares. Brokerage firm Deutsche Bank maintains its rating on Bank Of New York Mellon Corporation (The) (NYSE:BK). As per the latest information, the brokerage house lowers the price target to $48 per share from a prior target of $50. The shares have been rated Buy. The rating by the firm was issued on June 16, 2016.

Bank Of New York Mellon Corporation (The) (NYSE:BK): stock turned positive on Thursday. Though the stock opened at $41.1, the bulls momentum made the stock top out at $41.54 level for the day. The stock recorded a low of $41.1 and closed the trading day at $41.54, in the green by 2.32%. The total traded volume for the day was 4,490,989. The stock had closed at $40.6 in the previous days trading.

The company shares have dropped -5.25% from its 1 Year high price. On Aug 10, 2015, the shares registered one year high at $45.45 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $40.83 and the 200 Day Moving Average price is recorded at $38.52. On the companys insider trading activities, The Securities and Exchange Commission has divulged that Hassell Gerald L, director officer (Chairman & CEO) of Bank Of New York Mellon Corp, had unloaded 24,598 shares at an average price of $40.76 in a transaction dated on May 19, 2016. The total value of the transaction was worth $1,002,614.

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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