Bank Of New York Mellon Corporation (The) (BK) : The consensus on Bank Of New York Mellon Corporation (The) (BK) based on 14 analyst recommendation on the company stock is 2.05, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 4 which endorses a Sell on the stock. However, 6 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future. 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst also believes that the downside risk to the stock is higher and suggests a Sell on Bank Of New York Mellon Corporation (The) (BK).
Bank Of New York Mellon Corporation (The) (BK) : Average target price received by Bank Of New York Mellon Corporation (The) (BK) is $44.55 with an expected standard deviation of $3.39. The most aggressive target on the stock is $49, whereas the most downbeat target is $38. 11 financial analysts are currently covering the stock.
Company shares have received an average consensus rating of Hold for the current week Bank Of New York Mellon Corporation (The) (NYSE:BK): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $39.87 and $39.74 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $40.20. The buying momentum continued till the end and the stock did not give up its gains. It closed at $40.04, notching a gain of 0.50% for the day. The total traded volume was 2,609,564 . The stock had closed at $39.84 on the previous day.
In a related news, Hassell Gerald L, director officer (Chairman & CEO) of Bank Of New York Mellon Corp, unloaded 24,598 shares at an average price of $40.76 on May 19, 2016. The total amount of the transaction was worth $1,002,614, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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.