BidaskClub Upgrades Bank Of New York Mellon Corporation (The) (BK) to Buy

Claudine Rigal
Juillet 3, 2017

News articles about Bank Of New York Mellon Corporation (The) (NYSE:BK) have been trending somewhat negative recently, Accern reports. The firm's revenue for the quarter was up 3.0% compared to the same quarter previous year.

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Bank Of New York Mellon Corporation (The) (NYSE:BK) last announced its quarterly earnings results on Thursday, April 20th. Bank Of New York Mellon Corporation (The) has a consensus rating of "Hold" and an average price target of $50.93. It indicates oversold and overbought price levels for a stock. Finally, Bank of America Corporation set a $49.00 price objective on shares of Bank Of New York Mellon Corporation (The) and gave the company a "sell" rating in a research report on Saturday, May 27th. The shares were sold at an average price of $47.71, for a total transaction of $4,874,721.54.

September 9 investment analysts at Deutsche Bank left the company rating at "Buy" and raised the price expectation from $46.00 to $51.00. Jefferies maintained the shares of BK in report on Wednesday, April 12 with "Hold" rating. Rafferty Capital Markets reissued a "buy" rating and issued a $53.00 price target on shares of Bank Of New York Mellon Corporation (The) in a research note on Tuesday, April 25th. BidaskClub upgraded Bank Of New York Mellon Corporation (The) from a "hold" rating to a "buy" rating in a report on Tuesday, June 20th. During the same quarter in the prior year, the business earned $0.74 earnings per share. Braun Stacey Associates has invested 0.11% of its portfolio in Bank of New York Mellon Corp (NYSE:BK). Finally, Quadrant Capital Group LLC raised its position in shares of Bank Of New York Mellon Corporation (The) by 2.6% in the first quarter. AQR Capital Management LLC increased its stake in shares of Bank Of New York Mellon Corporation (The) by 1.1% in the fourth quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of BK. Hudock Capital Group LLC boosted its stake in Bank Of New York Mellon Corporation (The) by 0.3% in the first quarter. The company has a consensus rating of "Hold" and a consensus target price of $50.93. Assenagon Asset Management S.A. purchased a new stake in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter valued at $8,576,000.

COPYRIGHT VIOLATION WARNING: This news story was originally reported by BBNS and is the sole property of of BBNS. RBO & Co. LLC bought a new position in shares of Bank Of New York Mellon Corporation (The) during the fourth quarter worth $4,834,000. About shares traded. Bank of New York Mellon Corp (NYSE:BK) has risen 13.98% since June 30, 2016 and is uptrending. Folger Nolan Fleming Douglas Capital Management Inc.'s holdings in Bank Of New York Mellon Corporation (The) were worth $1,165,000 at the end of the most recent reporting period. State Street Corp now owns 49,205,956 shares of the bank's stock worth $2,331,384,000 after buying an additional 3,836,306 shares during the period. The stock has moved north 3.76% over the past week of trading. Deutsche Bank maintained Bank of New York Mellon Corp (NYSE:BK) on Thursday, June 16 with "Buy" rating. NY acquired a new position in shares of Bank Of New York Mellon Corporation (The) during the first quarter worth $125,000.

In related news, Vice Chairman Thomas P. Gibbons sold 102,174 shares of the business's stock in a transaction that occurred on Monday, April 24th. Following the completion of the sale, the executive vice president now directly owns 100,487 shares of the company's stock, valued at approximately $4,787,200.68. The shares were sold on April 24th for an average price of $47.64. If you are accessing this article on another site, it was illegally stolen and republished in violation of US & worldwide copyright and trademark laws. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The disclosure for this sale can be found here.

More notable recent Bank of New York Mellon Corp (NYSE:BK) news were published by: Forbes.com which released: "BNY Mellon Gets Fed Approval To Return Over $4 Billion To Shareholders" on June 29, 2017, also Prnewswire.com with their article: "BNY Mellon and One Investment Group Create Strategic Alliance to Deliver ..." published on June 28, 2017, Blogs.Wsj.com published: "BNY Mellon Chief Information Officer Suresh Kumar Is Leaving Company" on June 07, 2017. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group. Mackenzie Financial Corp owns 12,823 shares with a value of $606,000. The Firm also has an Other segment, which includes the leasing portfolio, corporate treasury activities, derivatives and other trading, corporate and bank-owned life insurance and renewable energy investments, and business exits.

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