The stock of The Bank of New York Mellon Corporation (NYSE:BK) increased by $0.09 on Tuesday to finish at $44.34, up 0.20 percent. The last five days have seen an average of 2,734,100 shares of common stock traded. 13 times new highs were reached in the current year, with a fall of -$1.18. The average number of shares traded over the last 20 days was 3,342,720, while the average volume over the last 50 days totaled 4,193,384.
BK stock dropped -2.25% since last month. On 08/23/23, the company’s shares reached a one-month low of $42.75. The stock touched a high of $52.26 on 02/14/23, after rallying from a low of $36.22 in 52 weeks. The price of BK stock has declined by -2.59% or -$1.18 this year, reaching a new high 13 times. Still, the stock price is down -15.15% from the 52-week high.
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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 26 days ago on Aug 04. On Aug 04, Corporate Controller Kurimsky Kurtis R. sold 14,045 shares at $45.64 each. This transaction resulted in the insider making $641,031. On Jul 19, McCarthy J Kevin sold 35,000 shares at a price of US$46.33. After the transaction, the insider now owns 98,102 shares. Sr. Exec. Vice President Smits Hanneke had earlier sold 16,960 shares on Nov 09 for $42.29 a share. The transaction was completed for $717,238.
Valuation Metrics
The Bank of New York Mellon Corporation (BK) has a trailing price-to-earnings (P/E) ratio of 12.89. Beta for the stock is 1.08. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 2.40, the price-to-book (PB) ratio of 0.97, and the price-to-cash flow ratio of 4.05.
Company paid $0.42 per share in dividends, an increase of 13.51% from $0.37 last year. A $0.05 dividend increase was reported on Tuesday July 18 2023.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.94, and the total debt to equity ratio is 0.94. The Bank of New York Mellon Corporation’s operating margin stood at 29.20% for the same period. Based on annual data, it had gross profit of $3.5 billion and revenue of $7.12 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BK’s return on assets (ROA) during the last 12 months has been 0.70%. There was a 4.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 7.70%.
Earnings Surprise
According to The Bank of New York Mellon Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that The Bank of New York Mellon Corporation’s quarterly earnings would be $1.3, but it ended up being $1.22, beating the consensus by 6.60%. At the end of The Bank of New York Mellon Corporation’s most recent quarter ended June 29, its total debt was $79.14 billion. Equity owned by shareholders amounts to $778.78 million.
Technical Picture
Here’s a quick look at The Bank of New York Mellon Corporation’s (BK) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 50.85%, suggesting the stock is Neutral, with a 16.34% historical volatility rate.
The stochastic %K and %D were 40.02% and 31.84% respectively, while the average true range (ATR) was 0.83. Based on the 14-day stochastic reading of 46.90%, the RSI (14) reading is 49.29%. On the 9-day MACD Oscillator, the stock is at 0.32, and the 14-day reading is at -0.16.
Analyst Ratings
Analysts have assigned The Bank of New York Mellon Corporation (BK) an Overweight rating. BK is a stock that is recommended for selling by 1 brokerage firm, while 7 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 10 others recommend it as a buy.
What is BK’s price target for the next 12 months?
The current consensus forecast for the stock is between $45.00 and $62.00, with a median target price of $53.50. In analyzing these forecasts, the average price target given by analysts for The Bank of New York Mellon Corporation (BK) is $53.28.
