NYSE:BNYCapital Markets
BNY (BNY) Stock Could Be 15% Overvalued Despite Record Earnings
After a very strong three year share price run of 277.6%, Bank of New York Mellon Corporation now faces a valuation debate, with its intrinsic value estimate from the Excess Returns model pointing to the stock trading at a premium, while market multiples suggest pricing that is closer to about right.
BNY has delivered a very large 277.6% total return over three years, which means a lot of optimism is already reflected in the share price.
Recent earnings momentum, supported by fees, interest...