5 Best Bank and Finance Stocks to Buy According to Mario Gabelli

2. The Bank of New York Mellon Corporation (NYSE: BK)

Number of Hedge Fund Holders: 52    

The Bank of New York Mellon Corporation (NYSE: BK) is placed second on our list of 10 best bank and finance stocks to buy according to Mario Gabelli. The company provides a range of financial services and is headquartered in New York. Latest data shows that GAMCO Investors owned over 2.3 million shares in the firm at the end of the second quarter of 2021 worth more than $121 million, representing 1.03% of the portfolio. 

On July 20, investment advisory Argus upgraded The Bank of New York Mellon Corporation (NYSE: BK) stock to Buy from Hold with a price target of $55, underlining that the revenue of the firm would improve based on a higher short-term interest rate environment.

At the end of the second quarter of 2021, 52 hedge funds in the database of Insider Monkey held stakes worth $4.9 billion in The Bank of New York Mellon Corporation (NYSE: BK), up from 49 the preceding quarter worth $4.7 billion.