CLSA Maintains Bank of New York Mellon Corp to Outperform with Price Target $47.00

Brokerage firm CLSA Maintains its rating on Bank of New York Mellon Corp(NYSE:BK). In a research note issued to the investors, the brokerage major Raises the price-target to $47.00 per share. The shares have been rated Outperform. The rating by CLSA was issued on Sep 23, 2016.

In a different note, On Sep 9, 2016, Deutsche Bank said it Maintains its rating on Bank of New York Mellon Corp. In the research note, the firm Raises the price-target to $50.00 per share. The shares have been rated ‘Buy’ by the firm. On Aug 5, 2016, Deutsche Bank said it Maintains its rating on Bank of New York Mellon Corp. In the research note, the firm Raises the price-target to $46.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 18, 2016, Deutsche Bank said it Maintains its rating on Bank of New York Mellon Corp. In the research note, the firm Raises the price-target to $44.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 11, 2016, Jefferies said it Maintains its rating on Bank of New York Mellon Corp. In the research note, the firm Lowers the price-target to $41.00 per share. The shares have been rated ‘Hold’ by the firm.

Bank of New York Mellon Corp (BK) shares turned negative on Tuesdays trading session with the shares closing down -0.05 points or -0.13% at a volume of 84,73,961. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $39.64. The peak price level was also seen at $39.64 while the days lowest was $39.1. Finally the shares closed at $39.5. The 52-week high of the shares is $44.73 while the 52-week low is $32.2. According to the latest information available, the market cap of the company is $42,173 M.

Bank of New York Mellon Corp(BK) last announced its earnings results on Jul 21, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $3.77B. Analysts had an estimated revenue of $3.79B. Earnings per share were $0.76. Analysts had estimated an EPS of $0.75.

Several Insider Transactions has been reported to the SEC. On May 23, 2016, Gerald L Hassell (Chairman & CEO) sold 24,598 shares at $40.76 per share price.Also, On May 16, 2016, Thomas P Gibbons (Vice Chairman & CFO) sold 376,054 shares at $39.78 per share price.On May 6, 2016, Karen B Peetz (President) sold 65,000 shares at $39.24 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.

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