In yesterday’s Wall Street session, Bank Of New York Mellon Corp (NYSE:BK) shares traded at $46.57, up 0.26% from the previous session.
As of this writing, 18 analysts cover Bank Of New York Mellon Corp (NYSE:BK). 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 $52.50. Given the previous closing price of $46.45, this indicates a potential upside of 13.02 percent. BK stock price is now 7.55% away from the 50-day moving average and 4.42% away from the 200-day moving average. The market capitalization of the company currently stands at $35.82B.
There are 6 analysts who have given it a hold rating, whereas 9 have given it a buy rating. Brokers who have rated the stock have averaged $52.50 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 $1.11 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 $4.57 million. Insiders disposed of 306,423 shares of company stock worth roughly $14.27 million over the past 1 year. A total of 0.24% of the company’s stock is owned by insiders.
Wednesday morning saw Bank Of New York Mellon Corp (NYSE: BK) opened at $46.57. During the past 12 months, Bank Of New York Mellon Corp has had a low of $39.65 and a high of $52.26. The fifty day moving average price for BK is $43.34 and a two-hundred day moving average price translates $44.58 for the stock.
The latest earnings results from Bank Of New York Mellon Corp (NYSE: BK) was released for Sep, 2023. According to the Asset Management Company, earnings per share came in at $1.27, beating analysts’ expectations of $1.15 by 0.12. This compares to $0.39 EPS in the same period last year. The net profit margin was 11.13% and return on equity was 8.98% for BK. The company reported revenue of $5.52 billion for the quarter, compared to $1.98 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 178.18 percent. For the current quarter, analysts expect BK to generate $4.3B in revenue.
Bank Of New York Mellon Corp(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.