Bank Of New York Mellon Corporation (The) (BK) : The consensus on Bank Of New York Mellon Corporation (The) (BK) based on 13 analyst recommendation on the company stock is 2.13, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 5 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) : The consensus price target for Bank Of New York Mellon Corporation (The) (BK) is $45.1 for the short term with a standard deviation of $3.78. The most optimist securities analyst among the 10 who monitor the stock believes that the stock can reach $51, however, the pessimist price target for the company is $38.
Also, 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 raises the price target to $51 per share from a prior target of $50. The shares have been rated Buy. The rating by the firm was issued on September 9, 2016.
Bank Of New York Mellon Corporation (The) (NYSE:BK): After opening at $40.5, the stock dipped to an intraday low of $40.43 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $41.01 and the buying power remained strong till the end. The stock closed at $40.85 for the day, a gain of 0.76% for the day session. The total traded volume was 4,501,949. The stocks close on the previous trading day was $40.54.
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.