Bank of New York Mellon Corp (BK) is Downgraded by Buckingham Research to Neutral

Bank of New York Mellon Corp (BK) was Downgraded by Buckingham Research to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Buckingham Research advised their investors in a research report released on Nov 21, 2016.

Many Wall Street Analysts have commented on Bank of New York Mellon Corp. Bank of New York Mellon Corp was Downgraded by Buckingham Research to ” Neutral” on Nov 21, 2016. Bank of New York Mellon Corp was Upgraded by Morgan Stanley to ” Equal-Weight” on Oct 21, 2016. Bank of New York Mellon Corp was Upgraded by Keefe Bruyette to ” Outperform” on Oct 21, 2016.

On the company’s financial health, Bank of New York Mellon Corp reported $0.90 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $0.81. The company had revenue of $3932.00 million for the quarter, compared to analysts expectations of $3879.74 million. The company’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.

Bank of New York Mellon Corp closed down -0.16 points or -0.34% at $47.44 with 58,08,898 shares getting traded on Monday. Post opening the session at $47.53, the shares hit an intraday low of $47.16 and an intraday high of $47.665 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Nov 14, 2016, Karen B Peetz (President) sold 244,865 shares at $46.16 per share price. According to the SEC, on Nov 8, 2016, Brian T Shea (Vice Chairman) sold 74,362 shares at $42.94 per share price. On Nov 2, 2016, Gerald L Hassell (Chairman & CEO) sold 40,000 shares at $34.35 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Mellon’s 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.

Bank of New York Mellon Corp

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