Some Investing Thoughts On Bank Of New York Mellon Corp (NYSE: BK)

Bank Of New York Mellon Corp (BK) concluded trading on Wednesday at a closing price of $57.66, with 3.29 million shares of worth about $189.67 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 37.06% during that period and on April 3, 2024 the price saw a gain of about 1.07%. Currently the company’s common shares owned by public are about 759.34M shares, out of which, 752.24M shares are available for trading.

However, the stock later moved at a day high price of 55.88, or with a gain of 1.07%. Stock saw a price change of 1.85% in past 5 days and over the past one month there was a price change of 3.91%. Year-to-date (YTD), BK shares are showing a performance of 10.78% which increased to 26.89% 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 $57.88 during that period. The average intraday trading volume for Bank Of New York Mellon Corp shares is 4.01 million. The stock is currently trading 3.01% above its 20-day simple moving average (SMA20), while that difference is up 3.78% for SMA50 and it goes to 19.33% higher than SMA200.

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Bank Of New York Mellon Corp (NYSE: BK) currently have 759.34M outstanding shares and institutions hold larger chunk of about 87.75% of that.

The stock has a current market capitalization of $43.50B and its 3Y-monthly beta is at 1.11. PE ratio of stock for trailing 12 months is 14.49, while it has posted earnings per share of $3.98 in the same period. Its PEG reads 1.33 while making debt-to-equity ratio of 1.61. 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 1.26% while standing at 1.44% over the month.

Stock’s fiscal year EPS is expected to rise by 30.83% while it is estimated to increase by 10.85% in next year. EPS is likely to grow at an annualized rate of 10.90% for next 5-years, compared to annual growth of -0.85% 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. Coverage by JP Morgan stated Bank Of New York Mellon Corp (BK) stock as an Overweight in their note to investors on December 18, 2023, suggesting a price target of $54.50 for the stock. On January 12, 2023, BofA Securities Resumed their recommendations, while on January 04, 2023, Wolfe Research Upgrade their ratings for the stock with a price target of $60. Stock get a Buy rating from Goldman on January 04, 2023.

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