Credit Suisse analyst Susan Roth Katzke maintained a Buy rating on Bank of New York Mellon Corporation (BK – Research 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.
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.
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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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