Jim Cramer Says Bank of New York Mellon is a Bank He Has “Come to Like Very Much”

Group 1 - The Bank of New York Mellon Corporation (NYSE:BK) has seen a significant reduction in its share count by 36.2% since the end of 2015, which has contributed to its stock nearly tripling in value over the past two years [1] - The company reported strong quarterly results with notable top and bottom line beats, including a nearly 28% return on tangible common equity, one of the best results observed from a bank [2] - Under the leadership of CEO Robin Vince, BNY has shifted its focus to offering a comprehensive suite of financial services rather than one-off products, and has heavily invested in technology, including AI [1][2] Group 2 - BNY Mellon is recognized as one of the top custodial banks in America, providing a range of financial services such as investment management, custody, clearing, and wealth planning [2] - The company has raised its full-year net interest income forecast, a move that very few banks have made recently [2]