In a report released today, Michael Carrier from Merrill Lynch maintained a Hold rating on BNY Mellon (BK), with a price target of $30.00. The company’s shares closed last Monday at $28.49, close to its 52-week low of $26.40.
According to TipRanks.com, Carrier is a 4-star analyst with an average return of 2.2% and a 50.0% success rate. Carrier covers the Financial sector, focusing on stocks such as BrightSphere Investment Group, Virtus Investment Partners, and Intercontinental Exchange.
BNY Mellon has an analyst consensus of Hold, with a price target consensus of $46.89, a 62.8% upside from current levels. In a report issued on March 18, Deutsche Bank also maintained a Hold rating on the stock with a $34.00 price target.
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BNY Mellon’s market cap is currently $25.73B and has a P/E ratio of 6.42. The company has a Price to Book ratio of 0.69.
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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.
