Bank Of New York Mellon Corp (NYSE:BK) finished Thursday with an addition of $0.51 to close at $42.68, an upside of 1.21 percent. An average of 2,847,800 shares of common stock have been traded in the last five days. There was a fall of -$0.48 in the past week, and it reached a new high 32 times over the past 12 months. The last 20 days have seen an average of 4,864,480 shares traded, while the 50-day average volume stands at 4,063,068.
BK stock has decreased by -3.74% in the last month. The company shares reached their 1-month lowest point of $41.91 on 09/27/23. 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 lost -6.24% or -$2.84 in price. In spite of this, the price is down -18.33% from the 52-week high.
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Insider Transactions
BK stock investors should be aware that Bank Of New York Mellon Corp (BK) stock had its last reported insider trading activity 56 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
Bank Of New York Mellon Corp (BK) has a trailing price-to-earnings (P/E) ratio of 12.41. The stock’s beta is 1.08. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.23, the price-to-book (PB) ratio at 0.92, and the price-to-cash flow ratio at 3.91.
The company has a payout ratio of 48.98%. 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 0.79 and a total debt to equity ratio of 1.86 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, Bank Of New York Mellon Corp had $32.46 billion in total debt. The analyst consensus anticipated Bank Of New York Mellon Corp’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, Bank Of New York Mellon Corp’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 Bank Of New York Mellon Corp (BK) price momentum. RSI 9-day as of the close on 28 September was 34.92%, suggesting the stock is Neutral, with historical volatility in this time frame at 13.02%.
As of today, BK’s price is $42.54 -1.11% or -$0.48 from its 5-day moving average. BK is currently trading -4.07% lower than its 20-day SMA and +3.67% higher than its 100-day SMA. However, the stock’s current price level is -6.40% below the SMA50 and -4.54% below the SMA200.
The stochastic %K and %D were 8.86% and 7.95%, respectively, and the average true range (ATR) was 0.75. With the 14-day stochastic at 17.70% and the average true range at 0.77, the RSI (14) stands at 37.76%. The stock has reached -0.80 on the 9-day MACD Oscillator while the 14-day reading was at -1.57.
Analyst Ratings
The consensus rating for Bank Of New York Mellon Corp (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 9 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 $45.00 and $62.00, with a median target of $52.00. Taking a look at these predictions, the average price target given by analysts for Bank Of New York Mellon Corp (BK) stock is $53.12.
