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KBW Sticks to Its Buy Rating for Bank of New York Mellon (BK)

Tipranks - Tipranks - Thu Jan 15, 4:48AM CST

In a report released yesterday, David Konrad from KBW maintained a Buy rating on Bank of New York Mellon, with a price target of $143.00. The company’s shares closed yesterday at $122.93.

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According to TipRanks, Konrad is a 5-star analyst with an average return of 23.4% and an 82.04% success rate. Konrad covers the Financial sector, focusing on stocks such as Bank of New York Mellon, Fulton Financial, and State Street.

In addition to KBW, Bank of New York Mellon also received a Buy from TipRanks – Anthropic’s Anthropic Asset Management in a report issued yesterday. However, on December 29, Citi maintained a Hold rating on Bank of New York Mellon (NYSE: BK).

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Based on Bank of New York Mellon’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $10.36 billion and a net profit of $1.45 billion. In comparison, last year the company earned a revenue of $10.16 billion and had a net profit of $1.18 billion

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