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The Bank of New York Mellon Corporation (BK) – Don’t Believe the Hype: Check The Facts

1,252 institutions hold shares in The Bank of New York Mellon Corporation (BK), with 2.13M shares held by insiders accounting for 0.24% while institutional investors hold 85.27% of the company’s shares. The shares outstanding are 890.21M, and float is at 874.75M with Short Float at 0.92%. Institutions hold 85.07% of the Float.

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The top institutional shareholder in the company is Berkshire Hathaway, Inc with over 72.36 million shares valued at $3.07 billion. The investor’s holdings represent 8.25% of the BK Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 64.06 million shares valued at $2.72 billion to account for 7.31% of the shares outstanding. The other top investors are Dodge & Cox Inc which holds 61.39 million shares representing 7.00% and valued at over $2.61 billion, while Blackrock Inc. holds 6.44% of the shares totaling 56.47 million with a market value of $2.4 billion.

The Bank of New York Mellon Corporation (NYSE: BK) is 11.97% higher on its value in year-to-date trading and has touched a low of $31.24 and a high of $47.76 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The BK stock was last observed hovering at around $47.49 in the last trading session, with the day’s gains setting it 0.03% off its average median price target of $50.00 for the next 12 months. It is also 13.6% off the consensus price target high of $55.00 offered by 19 analysts, but current levels are -8.0% lower than the price target low of $44.00 for the same period.

Currently trading at $47.52, the stock is 4.26% and 8.84% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.82 million and changing 0.06% at the moment leaves the stock 20.88% off its SMA200. BK registered 46.04% gain for a year compared to 6-month gain of 42.28%. The firm has a 50-day simple moving average (SMA 50) of $44.38 and a 200-day simple moving average (SMA200) of $40.27.

The stock witnessed a 12.71% loss in the last 1 month and extending the period to 3 months gives it a 15.79%, and is 5.11% 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 2.58% over the week and 2.47% over the month.

The Bank of New York Mellon Corporation (BK) has around 48500 employees, a market worth around $40.65B and $4.11B in sales. Current P/E ratio is 12.41 and Fwd P/E is 10.49. Profit margin for the company is 83.20%. Distance from 52-week low is 52.13% and -0.50% from its 52-week high. The company has generated returns on investments over the last 12 months (2.70%).

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 2.20, where 9 rate it as a Hold and 0 think it is a “Overweight”. 10 of the analysts rate the stock as a “Buy”. 0 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 04/16/2021 and quarterly earnings per share for the current quarter are estimated at $0.87 with sales reaching $3.83B over the same period.The EPS is expected to shrink by -15.10% this year, but quarterly earnings will post -2.20% year-over-year. Quarterly sales are estimated to shrink -6.70% in year-over-year returns.

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

A total of 71 insider transactions have happened at The Bank of New York Mellon Corporation (BK) in the last six months, with sales accounting for 38 and purchases happening 33 times. The most recent transaction is an insider sale by McCarthy J Kevin, the company’s SEVP & General Counsel. SEC filings show that McCarthy J Kevin sold 30,478 shares of the company’s common stock on Feb 10 at a price of $42.15 per share for a total of $1.28 million. Following the sale, the insider now owns 0.14 million shares.

The Bank of New York Mellon Corporation disclosed in a document filed with the SEC on Jul 22 that Harris Mitchell E. (Sr. Executive Vice President) sold a total of 35,000 shares of the company’s common stock. The trade occurred on Jul 22 and was made at $35.75 per share for $1.25 million. Following the transaction, the insider now directly holds 0.15 million shares of the BK stock.

Still, SEC filings show that on May 08, McCarthy J Kevin (SEVP & General Counsel) disposed off 10,000 shares at an average price of $35.12 for $0.35 million. The insider now directly holds 119,870 shares of The Bank of New York Mellon Corporation (BK).

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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 26.95% up over the past 12 months and JPMorgan Chase & Co. (JPM) that is 67.54% higher over the same period. Northern Trust Corporation (NTRS) is 44.07% up on the 1-year trading charts. Short interest in the company’s stock has fallen -1.73% from the last report on Feb 11, 2021 to stand at a total of 8.21 million short shares sold with a short interest ratio of 1.34.

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