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Bank Of New York Mellon Corp (BK) – Don’t Be So Quick to Call it Dead

Bank Of New York Mellon Corp (NYSE: BK) is 10.49% higher on its value in year-to-date trading and has touched a low of $39.65 and a high of $58.28 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 $57.40 in the last trading session, with the day’s gains setting it 0.11%.

Currently trading at $57.51, the stock is 2.06% and 2.32% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.94 million and changing 0.19% at the moment leaves the stock 15.39% off its SMA200. BK registered 38.58% gain for a year compared to 6-month gain of 27.83%.

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The stock witnessed a 0.54% loss in the last 1 month and extending the period to 3 months gives it a 4.05%, and is 1.86% 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 1.22% over the week and 1.82% over the month.

Bank Of New York Mellon Corp (BK) has around 53400 employees, a market worth around $43.01B and $36.20B in sales. Current P/E ratio is 14.00 and Fwd P/E is 9.60. Profit margin for the company is 8.83%. Distance from 52-week low is 45.04% and -1.31% from its 52-week high. The company has generated returns on investments over the last 12 months (4.38%).

The EPS is expected to grow by 35.66% this year

The shares outstanding are 759.34M, and float is at 745.68M with Short Float at 0.89%.

Bank Of New York Mellon Corp (BK) Insider Activity

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 40,000 shares of the company’s common stock on Apr 19 ’24 at a price of $56.15 per share for a total of $2.25 million. Following the sale, the insider now owns 0.1 million shares.

Bank Of New York Mellon Corp disclosed in a document filed with the SEC on Apr 18 ’24 that Keating Catherine (Sr. Exec. Vice President) sold a total of 54,070 shares of the company’s common stock. The trade occurred on Apr 18 ’24 and was made at $54.88 per share for $2.97 million. Following the transaction, the insider now directly holds 78350.0 shares of the BK stock.

Still, SEC filings show that on Feb 08 ’24, Keating Catherine (Sr. Exec. Vice President) disposed off 4,498 shares at an average price of $54.81 for $0.25 million. The insider now directly holds 123,490 shares of Bank Of New York Mellon Corp (BK).

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