Wells Fargo Reaffirms Their Hold Rating on Bank of New York Mellon (BK)

In a report released today, Mike Mayo from Wells Fargo maintained a Hold rating on Bank of New York Mellon, with a price target of $122.00.

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According to TipRanks, Mayo is a 5-star analyst with an average return of 15.6% and a 68.63% success rate. Mayo covers the Financial sector, focusing on stocks such as JPMorgan Chase, Bank of New York Mellon, and Citigroup.

In addition to Wells Fargo, Bank of New York Mellon also received a Hold from RBC Capital’s Gerard Cassidy in a report issued on March 26. However, on March 25, Bank of America Securities maintained a Buy rating on Bank of New York Mellon (NYSE: BK).

Based on Bank of New York Mellon’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $8.87 billion and a net profit of $1.46 billion. In comparison, last year the company earned a revenue of $10.03 billion and had a net profit of $1.16 billion