Bank Of New York Mellon Corp (NYSE:BK) shares traded -0.56% lower at $55.37 on Wall Street last session.
BK stock price is now -0.69% away from the 50-day moving average and 13.69% away from the 200-day moving average. The market capitalization of the company currently stands at $41.77B.
With the price target enhanced from $52 to $62, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for Bank Of New York Mellon Corp (NYSE: BK). On December 18, 2023, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock keeping its target price maintained at $54.50, while ‘BofA Securities’ rates the stock as ‘Buy’
In other news, Keating Catherine, Sr. Exec. Vice President sold 4,498 shares of the company’s stock on Feb 08 ’24. The stock was sold for $246,530 at an average price of $54.81. Upon completion of the transaction, the Sr. Exec. Vice President now directly owns 123,490 shares in the company, valued at $6.84 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jan 16 ’24, Sr. Exec. Vice President Keating Catherine sold 31,322 shares of the business’s stock. A total of $1,723,072 was realized by selling the stock at an average price of $55.01. This leaves the insider owning 95,714 shares of the company worth $5.3 million. A total of 0.30% of the company’s stock is owned by insiders.
During the past 12 months, Bank Of New York Mellon Corp has had a low of $39.65 and a high of $58.28. The fifty day moving average price for BK is $55.74 and a two-hundred day moving average price translates $48.77 for the stock.
The latest earnings results from Bank Of New York Mellon Corp (NYSE: BK) was released for Dec, 2023. According to the Asset Management Company, earnings per share came in at $1.28, beating analysts’ expectations of $1.13 by 0.15. This compares to $0.62 EPS in the same period last year. The net profit margin was 9.31% and return on equity was 8.29% for BK. The company reported revenue of $5.96 billion for the quarter, compared to $3.2 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 86.52 percent. For the current quarter, analysts expect BK to generate $4.39B in revenue.
