The Bank of New York Mellon Is Undervalued

Filed under: Bank of New York (BK), Stocks to Buy

The Bank Of New York Mellon's (BK) stock has meandered since the April 6, 2009 buy call at a price of $28.16. With most other stocks, that would be a concern, but given the bank's track record, I'm obviously reiterating my buy rating.

Founded by Alexander Hamilton, The Bank of New York provides services that enable institutions and individuals to move and manage their financial assets in more than 100 markets globally. The core of BK's business, custodial services, is doing just fine, with more than $16 trillion in assets under custody.

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The Bank of New York Mellon Is Undervalued originally appeared on BloggingStocks on Thu, 14 Jan 2010 17:30:00 EST. Please see our terms for use of feeds.

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