Top Wall Street Forecasters Revamp Bank of New York Mellon Expectations Ahead Of Q2 Earnings

The Bank of New York Mellon Corporation BK will release its second quarter financial results, before the opening bell on Friday, July 12.

Analysts expect the New York-based company to report quarterly earnings at $1.43 per share, up from $1.38 per share in the year-ago period. Bank of New York Mellon is expected to post revenue of $4.52 billion, compared to $4.45 billion a year earlier, according to data from Benzinga Pro.

On July 2, BNY named Jose Minaya as Global Head of BNY Investments and Wealth.

Bank of New York Mellon shares gained 0.8% to close at $60.70 on Wednesday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Keefe, Bruyette & Woods analyst David Konrad upgraded the stock from Market Perform to Outperform and raised the price target from $60 to $70 on June 27. This analyst has an accuracy rate of 73%.
• Jefferies analyst Ken Usdin maintained a Buy rating and increased the price target from $67 to $68 on April 18. This analyst has an accuracy rate of 66%.
• B of A Securities analyst Ebrahim Poonawala maintained a Buy rating and boosted the price target from $64 to $66 on April 17. This analyst has an accuracy rate of 63%.
• Citigroup analyst Keith Horowitz maintained a Buy rating and increased the price target from $60 to $65 on Feb. 14. This analyst has an accuracy rate of 78%.
• UBS analyst Brennan Hawken maintained a Buy rating and boosted the price target from $54 to $62 on Jan. 9. This analyst has an accuracy rate of 68%.

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