The Bank of New York Mellon Corporation (NYSE: BK) is 8.17% higher on its value in year-to-date trading and has touched a low of $36.22 and a high of $64.63 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 $48.92 in the last trading session, with the day’s gains setting it 0.32% off its average median price target of $54.00 for the next 12 months. It is also 23.06% off the consensus price target high of $64.00 offered by 19 analysts, but current levels are -4.77% lower than the price target low of $47.00 for the same period.
Currently trading at $49.24, the stock is 5.09% and 8.51% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.8 million and changing 0.65% at the moment leaves the stock 12.92% off its SMA200. BK registered -16.88% loss for a year compared to 6-month gain of 13.25%.
The stock witnessed a 11.48% loss in the last 1 month and extending the period to 3 months gives it a 26.19%, and is 2.24% 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 2.44% over the week and 1.79% over the month.
The Bank of New York Mellon Corporation (BK) has around 51100 employees, a market worth around $39.54B and $7.12B in sales. Current P/E ratio is 16.97 and Fwd P/E is 9.19. Profit margin for the company is 45.50%. Distance from 52-week low is 35.95% and -23.81% 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
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 7 rate it as a Hold and 1 think it is a “Overweight”. 10 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 04/20/2023.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 811.30M, and float is at 806.77M with Short Float at 0.40%.
The Bank of New York Mellon Corporation (BK) Insider Activity
A total of 14 insider transactions have happened at The Bank of New York Mellon Corporation (BK) in the last six months, with sales accounting for 7 and purchases happening 7 times. The most recent transaction is an insider sale by Smits Hanneke,the company’sSr. Exec. Vice President. SEC filings show that Smits Hanneke sold 16,960 shares of the company’s common stock on Nov 09 at a price of $42.29 per share for a total of $0.72 million. Following the sale, the insider now owns 82256.0 shares.
The Bank of New York Mellon Corporation disclosed in a document filed with the SEC on Oct 19 that McCarthy J Kevin (SEVP & General Counsel) sold a total of 20,000 shares of the company’s common stock. The trade occurred on Oct 19 and was made at $39.37 per share for $0.79 million. Following the transaction, the insider now directly holds 0.11 million shares of the BK stock.
Still, SEC filings show that on Aug 08, GIBBONS THOMAS P (Chief Executive Officer) disposed off 134,000 shares at an average price of $43.24 for $5.79 million. The insider now directly holds 0 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 -9.30% down over the past 12 months and Wells Fargo & Company (WFC) that is -20.96% lower over the same period. Morgan Stanley (MS) is 0.53% up on the 1-year trading charts.