Some well-known value investors have taken a shine to Bank of New York Mellon Corp, the world’s largest custody bank, whose stock price remains below levels seen before the financial crisis imploded in 2008.

Mason Hawkins’ Southeastern Asset Management and Don Yacktman’s Yacktman Asset Management have joined Warren Buffett’s Berkshire Hathaway Inc in building up positions in BNY Mellon in the second quarter, according to recent securities filings.

Value investors are placing bigger bets on BNY Mellon because the stock is trading at only 10 times forward earnings while its price-to-book-value skips along multi-year lows, according to Bernstein Research analyst Brad Hintz.

Source: Reuters.com