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Bank Of New York Mellon Corp (BK) Is Up 9.61% in 2024 With Lots of Room to Run

Bank Of New York Mellon Corp (NYSE: BK) is 9.61% higher on its value in year-to-date trading and has touched a low of $39.65 and a high of $57.88 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 $56.96 in the last trading session, with the day’s gains setting it 0.09%.

Currently trading at $57.05, the stock is 2.06% and 2.76% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.77 million and changing 0.16% at the moment leaves the stock 18.23% off its SMA200. BK registered 27.06% gain for a year compared to 6-month gain of 33.76%.

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The stock witnessed a 2.81% loss in the last 1 month and extending the period to 3 months gives it a 9.61%, and is 0.90% 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 1.19% over the week and 1.47% over the month.

Bank Of New York Mellon Corp (BK) has around 53400 employees, a market worth around $43.04B and $33.80B in sales. Current P/E ratio is 14.34 and Fwd P/E is 9.86. Profit margin for the company is 9.31%. Distance from 52-week low is 43.88% and -1.44% from its 52-week high. The company has generated returns on investments over the last 12 months (4.48%).

Bank Of New York Mellon Corp quarterly earnings per share for the current quarter are estimated at $1.18 with sales reaching $4.37B over the same period.The EPS is expected to grow by 30.54% this year, but quarterly earnings will post 0.90% year-over-year. Quarterly sales are estimated to grow 0.20% in year-over-year returns.

Bank Of New York Mellon Corp (BK) Top Institutional Holders

1,563 institutions hold shares in Bank Of New York Mellon Corp (BK), with institutional investors hold 87.51% of the company’s shares. The shares outstanding are 759.34M, and float is at 752.24M with Short Float at 1.01%. Institutions hold 87.37% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 70.35 million shares valued at $3.13 billion. The investor’s holdings represent 9.03% of the BK Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 64.59 million shares valued at $2.88 billion to account for 8.29% of the shares outstanding. The other top investors are Dodge & Cox Inc which holds 59.34 million shares representing 7.62% and valued at over $2.64 billion, while State Street Corporation holds 4.04% of the shares totaling 31.43 million with a market value of $1.4 billion.

Bank Of New York Mellon Corp (BK) Insider Activity

The most recent transaction is an insider sale by Keating Catherine,the company’sSr. Exec. Vice President. SEC filings show that Keating Catherine sold 4,498 shares of the company’s common stock on Feb 08 ’24 at a price of $54.81 per share for a total of $0.25 million. Following the sale, the insider now owns 0.12 million shares.

Bank Of New York Mellon Corp disclosed in a document filed with the SEC on Jan 16 ’24 that Keating Catherine (Sr. Exec. Vice President) sold a total of 31,322 shares of the company’s common stock. The trade occurred on Jan 16 ’24 and was made at $55.01 per share for $1.72 million. Following the transaction, the insider now directly holds 95714.0 shares of the BK stock.

Still, SEC filings show that on Jan 16 ’24, Smits Hanneke (Sr. Exec. Vice President) disposed off 15,425 shares at an average price of $55.16 for $0.85 million. The insider now directly holds 119,656 shares of Bank Of New York Mellon Corp (BK).

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