Jefferies Keeps a Hold Rating on BNY Mellon

By Ryan Adsit

In a report released today, Ken Usdin from Jefferies reiterated a Hold rating on BNY Mellon (NYSE: BK), with a price target of $52. The company’s shares closed last Friday at $49.89, close to its 52-week high of $49.94.

According to TipRanks.com, Usdin is a top 25 analyst with an average return of 19.4% and a 79.3% success rate. Usdin covers the Financial sector, focusing on stocks such as Government Properties Income Trust, Old National Bancorp Capital, and Discover Financial Services.

BNY Mellon has an analyst consensus of Hold, with a price target consensus of $50.83.

Based on BNY Mellon’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $3.97 billion and quarterly net profit of $908 million. In comparison, last year the company earned revenue of $3.84 billion and had a net profit of $806 million.

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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 following segments: Investment Management, Investment Services, and Other. The Investment Management segment provides services on mutual funds and seed capital activities. The Investment Services segment includes institutional trust and custody fees, broker-dealer services, corporate trust, depositary receipts, and foreign exchange. The Other segment consists of leasing portfolio, corporate treasury, derivatives, and insurance services. The company was founded by Alexander Hamilton on June 9, 1784 and is headquartered in New York, NY.