The Bank of New York Mellon Corporation (BK) has had a mixed performance in the market, underperforming against other competitors on some days but also outperforming on others. Financial firms such as
Heritage Wealth Management Inc. and Sanctuary Advisors LLC have increased their positions in BK.
BNY Mellon has received the SEC's approval to offer
ETF Crypto Custody Service.
Optimism surrounding the bank's stock is apparent, with it being treated as a strong buy and outpacing its finance peers.
BNY Mellon is forecasted to have solid earnings for FY2024 and Q3 2026, and it surpassed Q2 earnings and revenue estimates. The price target of the bank has been raised to $78.00 by
Morgan Stanley. BK's high institutional ownership and strong performance, with a projection of prolonged double-digit annual earnings per share growth, makes it a compelling choice for investors.
The bank has also rebranded to BNY, and is planning to divest its Canada Unit to Computershare. Nevertheless, there are some bearish indicators, including insiders disposing of stock and the bank has been fined $5 million over swap reporting and supervision failures. However, anticipation of a robust interest revenue and a bullish forecast bolsters the scale towards the positive scenario.
Bank of New York Mellon Corporation BK News Analytics from Fri, 12 Jan 2024 08:00:00 GMT to Sat, 05 Oct 2024 12:22:11 GMT -
Rating 6
- Innovation 4
- Information 8
- Rumor 5
