Just call it an extended buying opportunity for one of the most trusted banks in the United States. I'm Reiterating my Buy rating for Bank of New York Mellon (NYSE: BK), first recommended on April 6, 2009 at a price of $28.16. Founded by Alexander Hamilton, perhaps my favorite U.S. Constitution Framer, 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 $16 trillion in assets under custody. The First Call FY2009/FY010 EPS estimates for BK are $2.06 to $2.51.
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