The Bank of New York Mellon Corporation (BK) Review – Making Smarter Decisions

The Bank of New York Mellon Corporation (NYSE: BK) is -25.39% lower on its value in year-to-date trading and has touched a low of $26.40 and a high of $51.60 in the current 52-week trading range. The BK stock was last observed hovering at around $36.62 in the last trading session, with the day’s gains setting it 0.93% off its average median price target of $43.00 for the next 12 months. It is also 30.46% off the consensus price target high of $54.00 offered by 19 analysts, but current levels are 3.72% higher than the price target low of $39.00 for the same period.

Currently trading at $37.55, the stock is 2.23% and 0.99% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.45 million and changing 2.54% at the moment leaves the stock -7.53% off its SMA200. BK registered -8.53% loss for a year compared to 6-month loss of -5.89%. The firm has a 50-day simple moving average (SMA 50) of $0.85% and a 200-day simple moving average (SMA200) of $6.41M.

The stock witnessed a 3.30% gain in the last 1 month and extending the period to 3 months gives it a 1.02%, and is 4.68% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.00% over the week and 2.13% over the month.

The Bank of New York Mellon Corporation (BK) has around 48300 employees, a market worth around $33.39B and $6.18B in sales. Current P/E ratio is 8.10 and Fwd P/E is 9.61. Profit margin for the company is 68.40%. Distance from 52-week low is 42.23% and -27.23% from its 52-week high. The company has generated returns on investments over the last 12 months (3.20%).

The Bank of New York Mellon Corporation (BK) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for The Bank of New York Mellon Corporation (BK) is a “Overweight”. 19 analysts offering their recommendations for the stock have an average rating of 2.40, where 9 rate it as a Hold and 0 think it is a “Overweight”. 9 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

The Bank of New York Mellon Corporation is expected to release its quarterly report on 10/16/2020 and quarterly earnings per share for the current quarter are estimated at $0.93 with sales reaching $3.83B over the same period. The EPS is expected to grow by 14.60% this year, but quarterly earnings will post 0.30% year-over-year. Quarterly sales are estimated to shrink -0.90% in year-over-year returns.

The Bank of New York Mellon Corporation (BK) Top Institutional Holders

1,304 institutions hold shares in The Bank of New York Mellon Corporation (BK), with 2.08M shares held by insiders accounting for 0.23% while institutional investors hold 87.10% of the company’s shares. The shares outstanding are 889.02M, and float is at 884.05M with Short Float at 1.04%. Institutions hold 86.89% of the Float.

The Bank of New York Mellon Corporation (BK) Insider Activity

A total of 17 insider transactions have happened at The Bank of New York Mellon Corporation (BK) in the last six months, with sales accounting for 6 and purchases happening 11 times. The most recent transaction is an insider sale by Harris Mitchell E., the company’s Sr. Executive Vice President. SEC filings show that Harris Mitchell E. sold 35,000 shares of the company’s common stock on Jul 22 at a price of $35.75 per share for a total of $1.25 million. Following the sale, the insider now owns 0.15 million shares.

The Bank of New York Mellon Corporation disclosed in a document filed with the SEC on May 08 that McCarthy J Kevin (SEVP & General Counsel) sold a total of 10,000 shares of the company’s common stock. The trade occurred on May 08 and was made at $35.12 per share for $0.35 million. Following the transaction, the insider now directly holds 0.12 million shares of the BK stock.

Still, SEC filings show that on Apr 17, Engle Bridget E. (Sr. Exec. Vice President) disposed off 37,913 shares at an average price of $37.53 for $1.42 million. The insider now directly holds 100,160 shares of The Bank of New York Mellon Corporation (BK).

The Bank of New York Mellon Corporation (BK): Who are the competitors?

The company’s main competitors (and peers) include Wells Fargo & Company (WFC) that is trading -45.92% down over the past 12 months. Northern Trust Corporation (NTRS) is -0.99% down on the 1-year trading charts.