La Salla Francis J. Acquires The Bank of New York Mellon Corporation (BK) Shares

The Bank of New York Mellon Corporation (NYSE:BK) finished Tuesday with an addition of $0.12 to close at $54.54, an upside of 0.22 percent. An average of 4,926,940 shares of common stock have been traded in the last five days. There was a gain of $1.91 in the past week. The last 20 days have seen an average of 5,125,630 shares traded, while the 50-day average volume stands at 4,742,060.

BK stock has increased by 2.67% in the last month. The company shares reached their 1-month lowest point of $48.74 on 09/20/21. With the stock rallying to its 52-week high on 08/30/21, shares of the company touched a low of $33.19 and a high of $56.64 in 52 weeks. In spite of this, the price is down -3.71% from the 52-week high.

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Insider Transactions

83 days have passed since The Bank of New York Mellon Corporation (BK) last reported insider trading activity. La Salla Francis J., who is Sr. Executive Vice President, most recently acquired $25,000 shares at $49.41 per share on Jul 16. In this transaction, the insider spent $1,235,225. Chief Executive Officer, GIBBONS THOMAS P, disposed of 155,927 shares at a price of $51.46 on May 12. The insider now owns more than $8,024,066 worth of shares. Prior to that, SEVP & General Counsel McCarthy J Kevin went on to Sale 12,500 shares at $51.65 each on May 06. An amount of $645,658 was transacted.

Valuation Metrics

The Bank of New York Mellon Corporation (BK) has a trailing price-to-earnings (P/E) ratio of 14.09, which compares with the 20.50 for the broader industry and 12.73 for the sector. This means investors are optimistic about the stock’s future prospects. In the last five years, The Bank of New York Mellon Corporation’s PE ratio has ranged between 16.67 and 6.055. The stock’s beta is 1.08. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 15.28, the price-to-book (PB) ratio at 1.16.

The Bank of New York Mellon Corporation pays a $1.36 dividend per share annually. It offers a dividend yield of 2.49%. The company has a payout ratio of 31.90%. The company’s most recent quarterly dividend payment took place on Aug. 9, and it was $0.34 a share, representing a up of 8.82 from $0.31 last year. Its dividend has been increased for the last 1 consecutive years with the latest increase dividend $0.03 reported on Thursday July 15 2021. Dividends have grown by 44.19% each year over the last three years.

The Bank of New York Mellon Corporation will next go ex-dividend on 28-Oct. The next dividend payment The Bank of New York Mellon Corporation will make is expected to be $0.34.

Further, the company has a long term debt to equity ratio of 0.64 and a total debt to equity ratio of 0.64 for the quarter ending June 29. Its gross profit as reported stood at $2.98 billion compared to revenue of $4.11 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, The Bank of New York Mellon Corporation’s return on assets was 0.70%, compared to 1.0% over the last five years. Meanwhile, the return on equity (ROE) for the past 12 months has been 8.40% and the 5-year average holds at 10.2%. For the broader industry, ROE averaged 10.74 over the past year.

Earnings Surprise

The analyst consensus anticipated The Bank of New York Mellon Corporation’s latest quarter earnings to come in at $1 per share, but it turned out to be $1.13, a 13.00% surprise. At the end of the quarter ending June 29, The Bank of New York Mellon Corporation’s stock balance sheet showed total debt was $65.54 billion. Shareholders own equity worth $863.17 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at The Bank of New York Mellon Corporation (BK) price momentum. RSI 9-day as of the close on 05 October was 66.15%, suggesting the stock is Neutral, with historical volatility in this time frame at 25.99%.

As of today, BK’s price is $53.31 +3.63% or $1.91 from its 5-day moving average. BK is currently trading +2.94% higher than its 20-day SMA and +5.33% higher than its 100-day SMA. However, the stock’s current price level is +8.67% above the SMA50 and +33.71% above the SMA200.

The stochastic %K and %D were 88.28% and 79.35%, respectively, and the average true range (ATR) was 1.36. With the 14-day stochastic at 96.03% and the average true range at 1.30, the RSI (14) stands at 60.65%. The stock has reached 0.93 on the 9-day MACD Oscillator while the 14-day reading was at 1.90.

Analyst Ratings

Argus upgraded The Bank of New York Mellon Corporation (NYSE: BK) to a a Buy rating in its most recent analyst report. Previously, the stock was rated as a a Hold.The consensus rating for The Bank of New York Mellon Corporation (BK) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell BK, while 8 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 11 others rate it as a “buy”.

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

Analysts predict a range of price targets between $49.00 and $69.00, with a median target of $56.50. Taking a look at these predictions, the average price target given by analysts for The Bank of New York Mellon Corporation (BK) stock is $57.44.


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