BNY Mellon (BK) EPS Growth Expected to Improve Amid Strategic Execution, Says RBC Capital

The Bank of New York Mellon Corporation (NYSE:BK) ranks among the biggest publicly traded asset managers. On January 14, RBC Capital boosted its price target for The Bank of New York Mellon Corporation (NYSE:BK) to $130 from $124 while keeping a Sector Perform rating on the company. According to reports, CEO Robin Vince is developing a business strategy based on three pillars: “Be More for Our Clients, Run Our Company Better, and Power Our Culture.”

RBC Capital stated that the execution of this strategy has resulted in the breakdown of business unit silos and a decrease in the company’s expenditure inflation. According to the firm, this strategy should also result in greater earnings per share growth, given the company’s recent performance was “best in class.”

The firm stated that Bank of New York Mellon’s “laserlike focus” on performance aims to create favorable operating leverage, which the firm refers to as its “Northstar” signal.

The Bank of New York Mellon Corporation (NYSE:BK) provides a range of financial products and services in the US and internationally. It operates through four segments: Securities Services, Market & Wealth Services, Investment & Wealth Management, and Other.

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Disclosure: None. This article is originally published at Insider Monkey.