BNY Mellon Receives a Rating Update from a Top Analyst

By Jason Carr

Jefferies analyst Ken Usdin reiterated a Hold rating on BNY Mellon (NYSE: BK) yesterday and set a price target of $56. The company’s shares closed yesterday at $51.56.

According to TipRanks.com, Usdin is a top 100 analyst with an average return of 16.4% and a 69.5% 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 $55.88.

The company has a one year high of $54.59 and a one year low of $38.68. Currently, BNY Mellon has an average volume of 4.1M.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. Last month, Thomas Gibbons, the Vice Chairman & CFO of BK sold 184,380 shares for a total of $9,945,457.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.