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

Jefferies analyst Ken Usdin maintained a Buy rating on Bank of New York Mellon Corporation (BKResearch Report) on July 18 and set a price target of $48.00. The company’s shares closed last Tuesday at $42.11, close to its 52-week low of $39.78.

According to TipRanks.com, Usdin is a top 100 analyst with an average return of 17.7% and a 63.3% success rate. Usdin covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Texas Capital Bancshares, and Huntington Bancshares.

Currently, the analyst consensus on Bank of New York Mellon Corporation is a Moderate Buy with an average price target of $49.04, representing a 14.9% upside. In a report issued on July 11, UBS also maintained a Buy rating on the stock with a $52.00 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 4.46M.

Based on the recent corporate insider activity of 95 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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