Bank Of New York Mellon Corp (BK): Not A Time To Panic Nor Freeze

Bank Of New York Mellon Corp (BK) concluded trading on Wednesday at a closing price of $55.27, with 3.39 million shares of worth about $187.42 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 20.89% during that period and on Wednesday February 7 the price saw a gain of about 0.38%. Currently the company’s common shares owned by public are about 769.07M shares, out of which, 767.23M shares are available for trading.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 94 times over the past 12 months. They bought 693,135 shares in 38 of the transactions. In 56 selling transactions, insiders dumped 293,563 shares.

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Stock saw a price change of -0.34% in past 5 days and over the past one month there was a price change of 4.88%. Year-to-date (YTD), BK shares are showing a performance of 6.19% which increased to 9.36% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $39.65 but also hit the highest price of $56.42 during that period. The average intraday trading volume for Bank Of New York Mellon Corp shares is 4.40 million. The stock is currently trading 0.76% above its 20-day simple moving average (SMA20), while that difference is up 6.07% for SMA50 and it goes to 20.95% higher than SMA200.

Bank Of New York Mellon Corp (NYSE: BK) currently have 769.07M outstanding shares and institutions hold larger chunk of about 84.70% of that.

The stock has a current market capitalization of $42.51B and its 3Y-monthly beta is at 1.11. PE ratio of stock for trailing 12 months is 13.90, while it has posted earnings per share of $3.98 in the same period. Its PEG reads 1.18 while making debt-to-equity ratio of 1.13. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for BK, volatility over the week remained 1.34% while standing at 1.40% over the month.

Analysts are in expectations that Bank Of New York Mellon Corp (BK) stock would likely to be making an EPS of $1.18 in the current quarter, while forecast for next quarter EPS is $1.35 and it is $5.87 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.09 which is $1.33 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $1.13 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 30.14% while it is estimated to increase by 10.80% in next year. EPS is likely to grow at an annualized rate of 11.76% for next 5-years, compared to annual growth of -0.20% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on January 30, 2024 offering an Equal-weight rating for the stock and assigned a target price range of between $52 and $62 to it.

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