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The Bank of New York Mellon Corporation (BK) – Don’t Be So Quick to Call it Dead

The Bank of New York Mellon Corporation (NYSE: BK) is -29.53% lower on its value in year-to-date trading and has touched a low of $39.78 and a high of $64.63 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The BK stock was last observed hovering at around $42.30 in the last trading session, with the day’s loss setting it -1.37% off its average median price target of $46.50 for the next 12 months. It is also 32.9% off the consensus price target high of $61.00 offered by analysts, but current levels are 9.04% higher than the price target low of $45.00 for the same period.

Currently trading at $40.93, the stock is -4.56% and -5.18% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.49 million and changing -3.24% at the moment leaves the stock -16.71% off its SMA200. BK registered -18.03% loss for a year compared to 6-month loss of -20.88%.

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The stock witnessed a -4.75% gain in the last 1 month and extending the period to 3 months gives it a -2.55%, and is -7.90% down 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 2.80% over the week and 2.62% over the month.

The Bank of New York Mellon Corporation (BK) has around 50800 employees, a market worth around $33.49B and $3.36B in sales. Current P/E ratio is 10.42 and Fwd P/E is 8.63. Profit margin for the company is 96.40%. Distance from 52-week low is 2.89% and -36.67% from its 52-week high. The company has generated returns on investments over the last 12 months (3.00%).

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

The Bank of New York Mellon Corporation is expected to release its quarterly report on 10/17/2022.The EPS is expected to grow by 8.30% this year

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

The shares outstanding are 810.90M, and float is at 806.70M with Short Float at 0.92%.

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

A total of 13 insider transactions have happened at The Bank of New York Mellon Corporation (BK) in the last six months, with sales accounting for 4 and purchases happening 9 times. The most recent transaction is an insider sale by GIBBONS THOMAS P, the company’s Chief Executive Officer. SEC filings show that GIBBONS THOMAS P sold 134,000 shares of the company’s common stock on Aug 08 at a price of $43.24 per share for a total of $5.79 million. Following the sale, the insider now owns 0.0 shares.

The Bank of New York Mellon Corporation disclosed in a document filed with the SEC on Aug 08 that GIBBONS THOMAS P (Chief Executive Officer) sold a total of 105,062 shares of the company’s common stock. The trade occurred on Aug 08 and was made at $43.24 per share for $4.54 million. Following the transaction, the insider now directly holds 0.22 million shares of the BK stock.

Still, SEC filings show that on May 10, Engle Bridget E. (Sr. Exec. Vice President) disposed off 44,135 shares at an average price of $42.82 for $1.89 million. The insider now directly holds 101,886 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 JPMorgan Chase & Co. (JPM) that is trading -28.67% down over the past 12 months and Wells Fargo & Company (WFC) that is -11.81% lower over the same period. Morgan Stanley (MS) is -15.90% down on the 1-year trading charts.

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