Research Recommendations For The Bank of New York Mellon Corporation (BK): Here is What You Should Know

The Bank of New York Mellon Corporation (NYSE:BK) saw a downside of -0.13% to close Monday at $52.85 after subtracting -$0.07 on the day. The 5-day average trading volume is 4,557,600 shares of the company’s common stock. It has gained $54.29 in the past week. An average of 5,026,705 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 4,751,262.

BK’s 1-month performance is -2.69% or -$1.08 on its low of $48.74 reached on 09/20/21. The company’s shares have touched a 52-week low of $33.19 and high of $56.64, with the stock’s rally to the 52-week high happening on 08/30/21. YTD, BK has achieved 24.53% or $10.41. However, the current price is down -6.69%% from the 52-week high price.

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Insider Transactions

On Jul 16, 81 days have gone by since the last insider trading activity for The Bank of New York Mellon Corporation (BK). La Salla Francis J. (Sr. Executive Vice President) most recently sold 25,000 shares at $49.41 per share on Jul 16. This transaction cost the insider $1,235,225. Chief Executive Officer, GIBBONS THOMAS P, sold 155,927 shares at a price of $51.46 on May 12. Then, on May 06, SEVP & General Counsel McCarthy J Kevin sold 12,500 shares at a price of $51.65 per share. This transaction amounted to $645,658.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 16.67 and a low of 6.055. BK stock has a beta of 1.08. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 14.80 while the price-to-book (PB) in the most recent quarter is 1.13.

The Bank of New York Mellon Corporation pays an annual dividend of $1.36 per share. Its dividend yield is 2.57% and the payout ratio is 31.90%. BK’s most recent quarterly dividend payment was made on Aug. 9, when it paid $0.34 a share compared with prior rate of $0.31, up 8.82% from last year’s. The company has boosted its dividend for the last 12 consecutive years with the latest dividend increase of $0.03 reported on Thursday July 15 2021. Measured over the last 3 years, the Dividend has been growing by 44.19% yearly.

It is projected that The Bank of New York Mellon Corporation’s next ex-dividend date will be on 28-Oct. BK is expected to distribute $0.34 as its next dividend.

As well, the company’s long term debt to equity for the quarter ending June 29 was 0.64, while the total debt to equity was 0.64 while for the period ending June 29; The Bank of New York Mellon Corporation’s operating margin was 93.70%. The firm’s gross profit as reported stood at $2.98 billion against revenue of $4.11 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected BK to announce $1 per share in earnings in its latest quarter, but it posted $1.13, representing a 13.00% surprise. BK stock balance sheet for the quarter ending June 29 shows that, with total debt at $65.54 billion. Shareholders hold equity totaling $863.17 million

Technical Picture

Let’s look briefly at The Bank of New York Mellon Corporation (BK) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 04 October was 55.59% to suggest the stock is trending Neutral, with historical volatility in this time period at 26.21%.

The stock’s 5-day moving average is $52.63, reflecting a -1.03% or -$0.55 change from its current price. BK is currently trading -2.00% above its 20-day SMA, +3.57% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +5.76% and +30.66% respectively.

Stochastic %K and %D was 68.41% and 67.51% and the average true range (ATR) pointed at 1.31. The RSI (14) points at 52.99%, while the 14-day stochastic is at 74.05% with the period’s ATR at 1.26. The stock’s 9-day MACD Oscillator is pointing at 0.37 and 0.89 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for The Bank of New York Mellon Corporation (NYSE: BK), Argus upgraded it to a Buy rating. They previously had a Hold rating on the stock. Analysts offering their rating for BK stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate BK as a “sell,”, while 8 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 11 have offered a “buy” rating.

What is BK’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $49.00 and a high of $69.00, with their median price target at $56.50. Looking at these predictions, the average price target given by analysts is for The Bank of New York Mellon Corporation (BK) stock is $57.44.


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