Analyst Rating Update on Bank Of New York Mellon Corporation (The) (BK)

Bank Of New York Mellon Corporation (The) (BK) : Zacks Investment Research ranks Bank Of New York Mellon Corporation (The) (BK) as 4, which is a Sell 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) (BK) : The consensus price target for Bank Of New York Mellon Corporation (The) (BK) is $44.46 for the short term with a standard deviation of $3.33. The most optimist securities analyst among the 11 who monitor the stock believes that the stock can reach $49, however, the pessimist price target for the company is $38.

Company shares have received an average consensus rating of Hold for the current week Also, Deutsche Bank maintains their rating on the shares of Bank Of New York Mellon Corporation (The) (NYSE:BK). The current rating of the shares is Buy. Equity Analysts at the Firm raises the price target to $46 per share from $44 per share. The rating by the firm was issued on July 18, 2016.


Bank Of New York Mellon Corporation (The) (NYSE:BK): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $38.87 and $38.79 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $39.37. The buying momentum continued till the end and the stock did not give up its gains. It closed at $39.22, notching a gain of 1.08% for the day. The total traded volume was 3,759,389 . The stock had closed at $38.80 on the previous day.

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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