Credit Suisse Thinks Bank of New York Mellon Corporation’s Stock is Going to Recover

Credit Suisse analyst Susan Roth Katzke maintained a Buy rating on Bank of New York Mellon Corporation (BKResearch Report) today and set a price target of $50.00. The company’s shares closed last Monday at $42.77, close to its 52-week low of $39.78.

According to TipRanks.com, Katzke is a 5-star analyst with an average return of 19.3% and a 68.0% success rate. Katzke covers the Financial sector, focusing on stocks such as JPMorgan Chase & Co., Bank of America, and Morgan Stanley.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Bank of New York Mellon Corporation with a $47.96 average price target, representing a 9.2% upside. In a report issued on July 11, UBS also maintained a Buy rating on the stock with a $52.00 price target.

See today’s best-performing stocks on TipRanks >>

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 net profit of $869 million. In comparison, last year the company earned revenue of $3.89 billion and had a net profit of $1.02 billion.

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.

Read More on BK:

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More

Latest News Feed