The Bank of New York Mellon Corporation (NYSE:BK) finished Thursday with an addition of $0.62 to close at $45.89, an upside of 1.37 percent. An average of 3,945,660 shares of common stock have been traded in the last five days. There was a gain of $0.33 in the past week, and it reached a new high 22 times over the past 12 months. The last 20 days have seen an average of 5,259,675 shares traded, while the 50-day average volume stands at 4,913,600.
BK stock has increased by 1.48% in the last month. The company shares reached their 1-month lowest point of $42.08 on 07/14/23. With the stock rallying to its 52-week high on 02/14/23, shares of the company touched a low of $36.22 and a high of $52.26 in 52 weeks. It has reached a new high 13 times so far this year and achieved 0.81% or $0.37 in price. In spite of this, the price is down -12.19% from the 52-week high.
Insider Transactions
BK stock investors should be aware that The Bank of New York Mellon Corporation (BK) stock had its last reported insider trading activity 7 days ago on Aug 04. In this transaction, the insider spent $641,031. SEVP & General Counsel, McCarthy J Kevin, disposed of 35,000 shares at a price of $46.33 on Jul 19. The insider now owns more than $1,621,410 worth of shares. Prior to that, Sr. Exec. Vice President Smits Hanneke went on to Sale 16,960 shares at $42.29 each on Nov 09. An amount of $717,238 was transacted.
Valuation Metrics
The Bank of New York Mellon Corporation (BK) has a trailing price-to-earnings (P/E) ratio of 13.34. The stock’s beta is 1.08. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 2.50, the price-to-book (PB) ratio at 1.03, and the price-to-cash flow ratio at 2.86.
The company has a payout ratio of 48.70%. The company’s most recent quarterly dividend payment was $0.42 a share, representing a up of 13.51% from $0.37 last year. Its latest increase dividend $0.05 reported on Tuesday July 18 2023.
Financial Health
Further, the company has a long term debt to equity ratio of 0.92 and a total debt to equity ratio of 0.92 for the quarter ending June 29. Its gross profit as reported stood at $3.5 billion compared to revenue of $7.12 billion.
Earnings Surprise
For the three-month period that ended June 29, The Bank of New York Mellon Corporation had $32.46 billion in total debt. The analyst consensus anticipated The Bank of New York Mellon Corporation’s latest quarter earnings to come in at $1.22 per share, but it turned out to be $1.3, a 6.60% 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 $79.14 billion. Shareholders own equity worth $778.78 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 10 August was 56.69%, suggesting the stock is Neutral, with historical volatility in this time frame at 16.58%.
As of today, BK’s price is $45.72 +0.72% or $0.33 from its 5-day moving average. BK is currently trading +0.72% higher than its 20-day SMA and +7.77% higher than its 100-day SMA. However, the stock’s current price level is +12.78% above the SMA50 and +14.07% above the SMA200.
The stochastic %K and %D were 58.07% and 65.01%, respectively, and the average true range (ATR) was 0.98. With the 14-day stochastic at 70.64% and the average true range at 0.99, the RSI (14) stands at 56.07%. The stock has reached 0.08 on the 9-day MACD Oscillator while the 14-day reading was at 0.20.
Analyst Ratings
The consensus rating for The Bank of New York Mellon Corporation (BK) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell BK, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 10 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 $44.00 and $62.00, with a median target of $53.50. Taking a look at these predictions, the average price target given by analysts for The Bank of New York Mellon Corporation (BK) stock is $53.22.
