The Bank of New York Mellon Co. (NYSE:BK) reveals an array of financial ups, like having its shares bought by
Mizuho Securities USA LLC and
Los Angeles Capital Management LLC. Analysts regard the bank's stock as
Moderate Buy, and
Wells Fargo & Company has increased the price target to
$81.00. The corporation also anticipates higher revenues due to a decision to redeem
$750M Senior Notes. Yet, it's underperforming on several days compared to competitors. Q3 earnings boosted overall traction for the bank, with higher services fees that beat Wall Street estimates. They show solid revenue growth and fee income soaring
5%, reaching a new record of
$50T in assets. BNY also finalizes its Archer Holdco acquisition in its expansion strategy. But, an unwelcome development was also announced with BNY Mellon needing to pay
$5 million due to swap reporting and supervision failures according to the
CFTC.
Bank of New York Mellon Corporation BK News Analytics from Fri, 12 Jan 2024 08:00:00 GMT to Sat, 16 Nov 2024 14:37:38 GMT -
Rating 8
- Innovation 5
- Information 7
- Rumor -6
