In yesterday’s Wall Street session, The Bank of New York Mellon Corporation (NYSE:BK) shares traded at $44.78, down -0.16% from the previous session.
20 analysts cover The Bank of New York Mellon Corporation (NYSE:BK), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $62.00 and a low of $45.00, we find $53.50. Given the previous closing price of $44.85, this indicates a potential upside of 19.29 percent. BK stock price is now 0.11% away from the 50-day moving average and -1.27% away from the 200-day moving average. The market capitalization of the company currently stands at $34.93B.
The stock has received a hold rating from 7 analysts and a buy rating from 10. Brokers who have rated the stock have averaged $53.28 as their price target over the next twelve months.
In other news, Kurimsky Kurtis R., Corporate Controller sold 14,045 shares of the company’s stock on Aug 04. The stock was sold for $641,031 at an average price of $45.64. Upon completion of the transaction, the Corporate Controller now directly owns 23,816 shares in the company, valued at $1.07 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 19, SEVP & General Counsel McCarthy J Kevin sold 35,000 shares of the business’s stock. A total of $1,621,410 was realized by selling the stock at an average price of $46.33. This leaves the insider owning 98,102 shares of the company worth $4.39 million. Insiders disposed of 360,041 shares of company stock worth roughly $16.12 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BK stock. A new stake in The Bank of New York Mellon Corporation shares was purchased by MASSACHUSETTS FINANCIAL SERVICES CO /MA/ during the first quarter worth $29,959,000. CAPITAL FUND MANAGEMENT S.A. invested $9,785,000 in shares of BK during the first quarter. In the first quarter, MML INVESTORS SERVICES, LLC acquired a new stake in The Bank of New York Mellon Corporation valued at approximately $6,720,000. GILLSON CAPITAL LP acquired a new stake in BK for approximately $5,804,000. JANNEY MONTGOMERY SCOTT LLC purchased a new stake in BK valued at around $5,069,000 in the second quarter. In total, there are 1,527 active investors with 85.50% ownership of the company’s stock.
On Friday morning The Bank of New York Mellon Corporation (NYSE: BK) stock kicked off with the opening price of $44.81. During the past 12 months, The Bank of New York Mellon Corporation has had a low of $36.22 and a high of $52.26. The fifty day moving average price for BK is $44.75 and a two-hundred day moving average price translates $45.36 for the stock.
The latest earnings results from The Bank of New York Mellon Corporation (NYSE: BK) was released for Jun, 2023. The net profit margin was 19.30% and return on equity was 7.70% for BK. The company reported revenue of $5.22 billion for the quarter, compared to $1.16 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 350.73 percent.
Moreover, the firm recently paid out its quarterly dividend on 08/10/2023. Investors who held shares on 07/28/2023 were paid a $0.42 dividend. On an annualized basis, this represents a $1.68 dividend and a 3.75% percent yield. There was an ex-dividend date of 07/27/2023 for this dividend. In terms of dividend payout ratio, BK is presently at 42.80%.
The Bank of New York Mellon Corporation(BK) Company Profile
The Bank of New York Mellon Corporation provides a range of financial products and services in the United States and internationally. The company operates through Securities Services, Market and Wealth Services, Investment and Wealth Management, and other segments. The Securities Services segment offers custody, trust and depositary, accounting, exchange-traded funds, middle-office solutions, transfer agency, services for private equity and real estate funds, foreign exchange, securities lending, liquidity/lending services, and data analytics. This segment also provides trustee, paying agency, fiduciary, escrow and other financial, issuer, and support services for brokers and investors. The Market and Wealth Services segment offers clearing and custody, investment, wealth and retirement solutions, technology and enterprise data management, trading, and prime brokerage services. This segment also provides integrated cash management solutions, including payments, foreign exchange, liquidity management, receivables processing and payables management, and trade finance and processing services. The Investment and Wealth Management segment offers investment management strategies and distribution of investment products, investment management, custody, wealth and estate planning, private banking, investment, and information management services. The Other segment engages in the provision of leasing, corporate treasury, derivative and other trading, corporate and bank-owned life insurance, renewable energy investment, and business exit services. It serves central banks and sovereigns, financial institutions, asset managers, insurance companies, corporations, local authorities and high net-worth individuals, and family offices. The company was founded in 1784 and is headquartered in New York, New York.
