Story updated at 9:55 a.m. to reflect market activity.
Bank of New York Mellon fell -0.8% to $34.31 in morning trading.
Deutsche Bank analysts set a price target of $34 for the regional bank. The analysts see sales headwinds for the industry through the end of the year.
Must read: Warren Buffett's 25 Favorite Stocks
Separately, TheStreet Ratings team rates BANK OF NEW YORK MELLON CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BANK OF NEW YORK MELLON CORP (BK) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, attractive valuation levels, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- BK's revenue growth has slightly outpaced the industry average of 5.1%. Since the same quarter one year prior, revenues slightly increased by 0.6%. Growth in the company's revenue appears to have helped boost the earnings per share.
- Compared to where it was a year ago today, the stock is now trading at a higher level, reflecting both the market's overall trend during that period and the fact that the company's earnings growth has been robust. Turning our attention to the future direction of the stock, it goes without saying that even the best stocks can fall in an overall down market. However, in any other environment, this stock still has good upside potential despite the fact that it has already risen in the past year.
- The gross profit margin for BANK OF NEW YORK MELLON CORP is currently very high, coming in at 98.23%. It has increased from the same quarter the previous year. Along with this, the net profit margin of 18.06% is above that of the industry average.
- Net operating cash flow has significantly increased by 61.55% to -$1,055.00 million when compared to the same quarter last year. In addition, BANK OF NEW YORK MELLON CORP has also vastly surpassed the industry average cash flow growth rate of -81.56%.
- You can view the full analysis from the report here: BK Ratings Report