In a report released on October 17, Jason Goldberg from Barclays maintained a Buy rating on Bank of New York Mellon Corporation (BK – Research Report), with a price target of $57.00. The company’s shares closed yesterday at $39.96.
Goldberg covers the Financial sector, focusing on stocks such as Svb Financial Group, Ally Financial, and Bank of New York Mellon Corporation. According to TipRanks, Goldberg has an average return of 9.5% and a 55.84% success rate on recommended stocks.
In addition to Barclays, Bank of New York Mellon Corporation also received a Buy from Citigroup’s Keith Horowitz in a report issued yesterday. However, on the same day, Deutsche Bank maintained a Hold rating on Bank of New York Mellon Corporation (NYSE: BK).
Based on Bank of New York Mellon Corporation’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $4.16 billion and a net profit of $869 million. In comparison, last year the company earned a revenue of $3.96 billion and had a net profit of $947 million
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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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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