Bank Of New York Mellon Corporation (The) (BK) : The most positive equity analysts on Bank Of New York Mellon Corporation (The) (BK) expects the shares to touch $49, whereas, the least positive believes that the stock will trade at $38 in the short term. The company is covered by 11 Wall Street Brokerage Firms. The average price target for shares are $44.36 with an expected fluctuation of $3.32 from the mean.
The short interest in Bank Of New York Mellon Corporation (The) (BK) has declined from 8,447,548 on June 15,2016 to 8,105,611 on June 30,2016. The change was measured at 341,937 shares or 4%. The leftover shorts were 0.8% of the floated shares. The days to cover are 1, given the average daily volume of 6,607,211 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Equity Analysts at the Brokerage Firm, Deutsche Bank, maintains their rating on the shares of Bank Of New York Mellon Corporation (The) (NYSE:BK). Deutsche Bank has a Buy rating on the shares. As per the latest research report, the brokerage house lowers the price target to $48 per share from a prior target of $50. 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 $40.67, the bulls momentum made the stock top out at $40.67 level for the day. The stock recorded a low of $39.59 and closed the trading day at $39.69, in the green by 0.71%. The total traded volume for the day was 3,866,496. The stock had closed at $39.41 in the previous days trading.
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.