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Holly LaFon
Holly LaFon
Articles (9134)  | Author's Website |

Jeff Auxier Comments on Bank of New York Mellon Corp

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November 08, 2018 | About:
Under the leadership of Charles Scharf, BK (NYSE:BK) is investing heavily to improve operating platforms and their technology infrastructure while working to keep their costs down across the rest of the company. Mr. Scharf had great success using the same formula at Visa. Higher interest rates should also enhance earnings power as the company is a huge generator of free cash. We see good value in the banks both large and small, with many selling at price earnings ratios of 10-11 times 2019 earnings estimates.



From Jeff Auxier (Trades, Portfolio)'s third-quarter 2018 shareholder commentary.

About the author:

Holly LaFon
I'm a financial journalist with a master of science in journalism from Medill at Northwestern University.

Visit Holly LaFon's Website


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