A report released today by Zacks Investment Research about Bank of New York Mellon Corp (NYSE:BK) ups the target price to $44.00
- Updated: October 14, 2016
Only yesterday Bank of New York Mellon Corp (NYSE:BK) traded 1.10% higher at $39.48. BK’s 50-day average is $40.53 and its two hundred day moving average is $39.80. With the last closing price down -0.71% relative to the two hundred day moving average, compared to the S&P 500 which has decreased -0.01% over the date range. Volume of trade was down over the average, with 1,591,876 shares of BK changing hands under the typical 4,548,100
Bank of New York Mellon Corp (NYSE:BK) had its target price raised to $44.00 by Zacks Investment Research in an issued report announced 10/14/2016. The upped target suggests a potential upside of 0.11% based on the company's last stock close price.
Previously on 9/23/2016, CLSA reported about Bank of New York Mellon Corp (NYSE:BK) raised the target price from $45.00 to $47.00. At the time, this indicated a possible upside of 0.16%.
With a total market value of $0, Bank of New York Mellon Corp has price-earnings ratio of 14.18 with a one year low of $32.20 and a one year high of $44.73 .
A total of 19 equity analysts have released a ratings update on BK. Four equity analysts rating the company a strong buy, seven equity analysts rating the company a buy, nine equity analysts rating the company a hold, one equity analyst rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $44.39.
Brief Synopsis About Bank of New York Mellon Corp (NYSE:BK)
The Bank of New York Mellon Corporation (BNY Mellon) is an investments company. The Company operates businesses through two segments: Investment Management and Investment Services. The Company also has an Other segment, which includes credit-related services; the leasing portfolio; corporate treasury activities, including its investment securities portfolio; its equity interest in ConvergEx Group; business exits, and corporate overhead. The Company has over $1.6 trillion in assets under management. BNY Mellon's subsidiaries include The Bank of New York Mellon and BNY Mellon, National Association (BNY Mellon, N.A.). The Bank of New York Mellon is a New York state-chartered bank, which houses its Investment Services businesses, including Asset Servicing, Issuer Services, Treasury Services, Broker-Dealer and Advisor Services, as well as the bank-advised business of Asset Management.
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