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

Bank Of New York Mellon Corporation (The) (BK) : 6 brokerage houses believe that Bank Of New York Mellon Corporation (The) (BK) is a Strong Buy at current levels. 2 Analyst considers the fundamentals to be worthy of a Buy recommendation. 5 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Bank Of New York Mellon Corporation (The) (BK). Zacks Investment Research suggests a Sell with a rank of 4. 1 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 14 Wall Street Analysts endorse the stock as a Buy with a rating of 2.05.

Bank Of New York Mellon Corporation (The) (BK) : The highest level Bank Of New York Mellon Corporation (The) (BK) is projected to reach is $51 for the short term and the lowest estimate is at $39. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $45.36 and the possibility the share price can swing is $3.29.

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 $36.78 and $36.50 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $37.40. The buying momentum continued till the end and the stock did not give up its gains. It closed at $37.31, notching a gain of 0.48% for the day. The total traded volume was 8,480,249 . The stock had closed at $37.13 on the previous day.

Also, In a research note released to the investors, Deutsche Bank maintains its rating on Bank Of New York Mellon Corporation (The) (NYSE:BK).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Deutsche Bank lowers the new price target from $50 per share to $48 per share. The rating by the firm was issued on June 16, 2016. The company shares have dropped -8.41% from its 1 Year high price. On Aug 10, 2015, the shares registered one year high at $45.45 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $40.49 and the 200 Day Moving Average price is recorded at $38.24.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.