Bank of New York Mellon Corporation (BK) Receives a Hold from RBC Capital

In a report issued on July 16, Gerard Cassidy from RBC Capital maintained a Hold rating on Bank of New York Mellon Corporation (BKResearch Report), with a price target of $49.00. The company’s shares closed last Monday at $42.77, close to its 52-week low of $39.78.

According to TipRanks.com, Cassidy is a top 25 analyst with an average return of 22.3% and a 66.8% success rate. Cassidy covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Fifth Third Bancorp, and Goldman Sachs Group.

Bank of New York Mellon Corporation has an analyst consensus of Hold, with a price target consensus of $47.79, an 8.8% upside from current levels. In a report issued on July 1, Wells Fargo also maintained a Hold rating on the stock with a $46.00 price target.

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The company has a one-year high of $64.63 and a one-year low of $39.78. Currently, Bank of New York Mellon Corporation has an average volume of 4.81M.

Based on the recent corporate insider activity of 96 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BK in relation to earlier this year.

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The Bank of New York Mellon Corp. is a bank holding company, which provides a range of financial services. It was formed from the merger of The Bank of New York and the Mellon Financial Corporation in 2007. It operates through two segments: Investment Services and Investment Management.

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