Mario Gabelli Comments on Bank of New York Mellon Corp
- By Holly LaFon
Bank of New York Mellon Corp (NYSE:BK) (1.4%)(BK -$53.93 -NYSE)is a global leader in providing financial services to institutions and individuals. The company operates in more than 100 markets worldwide and strives to be the global provider of choice for investment management and investment services. As of June 30, 2018, the firm had $33.6 trillion in assets under custody and $1.9 trillion in assets under management. Going forward, we expect BK to benefit from rising global incomes and the cross border movement of financial transactions. We believe BK is also well positioned to grow earnings in a rising interest rate environment, given its large customer cash deposits and significant loan book.
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The intrinsic value of BK
From Mario Gabelli (Trades, Portfolio)'s Gabelli Asset Fund second quarter 2018 shareholder letter.
This article first appeared on GuruFocus.
Warning! GuruFocus has detected 2 Warning Signs with BK. Click here to check it out.
The intrinsic value of BK
