Barclays Believes BK Won’t Stop Here

By Austin Angelo

Barclays analyst Jason Goldberg reiterated a Buy rating on BNY Mellon (NYSE: BK) today and set a price target of $48. The company’s shares opened today at $43.97, close to its 52-week high of $44.90.

According to TipRanks.com, Goldberg is a 4-star analyst with an average return of 3.7% and a 63.0% success rate. Goldberg covers the Financial sector, focusing on stocks such as Discover Financial Services, Huntington Bancshares Inc., and Texas Capital Bancshares.

BNY Mellon has an analyst consensus of Moderate Buy, with a price target consensus of $44.58.

The company has a one year high of $44.90 and a one year low of $32.20. Currently, BNY Mellon has an average volume of 5.11M.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. Last month, Thomas Gibbons, the Vice Chairman & CFO of BK sold 79,022 shares for a total of $3,413,750.

The Bank of New York Mellon Corp. operates as a bank holding company, which engages in global financial services. It provides financial services for institutions, corporations and high-net-worth individuals, offering investment management and investment services through a worldwide client-focused team. The company operates through three segments: Investment Management, Investment Services and Other. The Investment Management segment includes the former asset management and wealth management businesses. The Investment Services segment includes the former asset servicing, issuer services and clearing services businesses, as well as the cash management business previously included in the former treasury services business. The Other segment includes credit-related activities previously included in the treasury services business, the lease financing portfolio, corporate treasury activities, including the investment securities portfolio, equity investments in Wing Hang Bank and ConvergEx group, business exits and corporate overhead. The Bank of New York Mellon traces its roots back to Bank of New York which was founded by Alexander Hamilton in 1784. The company was founded on July 1, 2007 and is headquartered in New York, NY.