In a report released today, Brian Bedell from Deutsche Bank maintained a Hold rating on BNY Mellon (BK – Research Report), with a price target of $37.00. The company’s shares closed last Thursday at $37.52.
According to TipRanks.com, Bedell is a 4-star analyst with an average return of 1.4% and a 45.9% success rate. Bedell covers the Financial sector, focusing on stocks such as Intercontinental Exchange, Apollo Global Management, and WisdomTree Investments.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for BNY Mellon with a $43.04 average price target, representing a 18.4% upside. In a report issued on April 7, Evercore ISI also upgraded the stock to Hold with a $40.00 price target.
BNY Mellon’s market cap is currently $31.55B and has a P/E ratio of 7.70. The company has a Price to Book ratio of 1.94.
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The Bank of New York Mellon Corp. is a bank holding company, which engages in the provision of financial services. It operates through the Investment Services and Investment Management segments. The Investment Services segment includes institutional trust and custody fees, broker-dealer services, corporate trust, depositary receipts, and foreign exchange. The Investment Management segment provides services to institutional and retail investors, as well as investment management, wealth and estate planning. The company was founded by Alexander Hamilton on June 9, 1784 and is headquartered in New York, NY.