10. Bank of New York Mellon
Shares of Bank of New York Mellon (BK) closed at $19.60 Friday, for a year-to-date decline of 34%. The shares have 28% upside potential, based on the mean price target of $25.02, among analysts polled by FactSet.
Based on a quarterly payout of 13 cents, the shares have a dividend yield of 2.65%.Please see TheStreet's earnings coverage for a summary of the company's third-quarter results. Guggenheim Securities analyst Marty Mosby in November reiterated his buy rating for BNY Mellon a buy, with a $25 price target, saying after the company's Investor Day review that even though the company's projection of operating earnings growth at the lower-end of a range of "7% to 11%," caused him to lower his 2012 EPS projection by 28 cents to $2.35, "BK represents significant upside potential (+22% to +45%) with limited downside (-4%)." On Tuesday, the analyst predicted that Bank of New York would raise its dividend payout to 3.5% in 2012, while reducing its share count by 7% through $1.8 billion in share buybacks. The shares trade for 8.1 times the consensus 2012 earnings estimate of $2.35 a share, among analysts polled by FactSet, and 2.3 times tangible book value, according to SNL Financial. Out of 18 analysts covering Bank of New York Mellon, 10 rate the shares a buy, seven have neutral ratings, and one analyst recommends selling the shares. Interested in more on Bank of New York Mellon? See TheStreet Ratings' report card for this stock.
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