NEW YORK (TheStreet) -- Shares of Bank of New York Mellon Corp. (BK) are down -1.57% to $33.93 after it was reported that Mitsubishi UFJ Financial Group Inc. (MTU) may bid for the bank's corporate trust arm, sources told Bloomberg.
It was not clear what Mitsubishi UFJ would offer as the custody bank is working with Goldman Sachs Group (GS) to find buyers for the unit, which could be worth $2.5 billion or more, according to Bloomberg.
Shares of Mitsubishi UFJ are up slightly.
TheStreet Ratings team rates BANK OF NEW YORK MELLON CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate BANK OF NEW YORK MELLON CORP (BK) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, expanding profit margins and compelling growth in net income. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows: