Katzke says asset servicer Bank of New York Mellon is positioned for modest organic revenue growth and has opportunities to improve its pretax margins. Those factors could help the bank maintain roughly 20% ROTE over time. Bank of New York Mellon shares trade at just 12 times forward earnings, but Katzke says the stock's valuation does not fully reflect the bank's impressive capital levels and returns. Looking ahead, she says potential bullish catalysts include excess capital deployment, further efficiency improvements and expansion into new markets. Credit Suisse has an "outperform" rating and $56 price target for BK stock, which closed at $54.42 on Oct. 5.