With over 4.93 million Bank Of New York Mellon Corp (BK) shares trading Tuesday and a closing price of $52.95 on the day, the dollar volume was approximately $261.16 million. The shares have shown a positive half year performance of 18.59% and its price on 01/09/24 gained nearly 0.47%. Currently, there are 808.44M common shares owned by the public and among those 767.18M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for BK have a consensus price objective of $57.63. The analysts have set the share’s price value over the next 12 months at a high of $68.00 and a low of $49.00. The average price target is 6.23% above its recent price level and a downside to the estimated low will see the stock lose -8.06% over that period. But an upside of 22.13% will see the stock hit the forecast high price target while median target price for the stock is $58.50.
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Insiders at the company have transacted a total of 101 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 696,759 shares. Insider sales of the common stock occurred on 58 occasions, with total insider shares sold totaling 306,423 shares.
Shares of Bank Of New York Mellon Corp (NYSE: BK) opened at $52.52, down -$0.18 from a prior closing price of $52.70. The company’s stock has a 5-day price change of 1.09% and 26.28% over the past three months. BK shares are trading 1.73% year to date (YTD), with the 12-month market performance up to 10.43% higher. It has a 12-month low price of $39.65 and touched a high of $52.78 over the same period. BK has an average intraday trading volume of 4.55 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.89%, 9.94%, and 18.47% respectively.
Institutional ownership of Bank Of New York Mellon Corp (NYSE: BK) shares accounts for 84.76% of the company’s 808.44M shares outstanding.
It has a market capitalization of $40.72B and a beta (3y monthly) value of 1.11. The stock’s trailing 12-month PE ratio is 12.40, while the earnings-per-share (ttm) stands at $4.27. The company has a PEG of 1.17 and the debt-to-equity ratio at 1.52. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.46% over the week and 1.36% over the month.
Analysts forecast that Bank Of New York Mellon Corp (BK) will achieve an EPS of $1.12 for the current quarter, $1.09 for the next quarter and $5.04 for 2024. The lowest estimate earnings-per-share for the quarter is $1.06 while analysts give the company a high EPS estimate of $1.17. Comparatively, EPS for the current quarter was $0.62 a year ago. Earnings per share for the fiscal year are expected to increase by 58.25%, and 10.41% over the next financial year. EPS should grow at an annualized rate of 10.61% over the next five years, compared to -4.88% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Bank Of New York Mellon Corp (BK) as a “Strong Buy” at a consensus score of 1.89. Specifically, 10 Wall Street analysts polled rate the stock as a buy, while 5 of the 18 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the BK, a number of firms have released research notes about the stock. JP Morgan stated their Overweight rating for the stock in a research note on December 18, 2023, with the firm’s price target at $54.50.
