Bank Of New York Mellon Corp (NYSE: BK) has a higher price-to-earnings ratio of 14.33x compared to its average ratio. BK has 36-month beta value of 1.11. Analysts have mixed views on the stock, with 5 analysts rating it as a “buy,” 1 as “overweight,” 12 as “hold,” and 2 as “sell.”
The public float for BK is 752.24M, and currently, short sellers hold a 1.01% ratio of that float. The average trading volume of BK on April 09, 2024 was 4.01M shares.
BK) stock’s latest price update
The stock price of Bank Of New York Mellon Corp (NYSE: BK) has surged by 0.49 when compared to previous closing price of 56.74, but the company has seen a 0.11% gain in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-04-08 that Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does The Bank of New York Mellon Corporation (BK) have what it takes?
BK’s Market Performance
Bank Of New York Mellon Corp (BK) has seen a 0.11% rise in stock performance for the week, with a 2.31% gain in the past month and a 8.84% surge in the past quarter. The volatility ratio for the week is 1.53%, and the volatility levels for the past 30 days are at 1.48% for BK. The simple moving average for the last 20 days is 1.52% for BK stock, with a simple moving average of 17.55% for the last 200 days.
Analysts’ Opinion of BK
Many brokerage firms have already submitted their reports for BK stocks, with Morgan Stanley repeating the rating for BK by listing it as a “Equal-Weight.” The predicted price for BK in the upcoming period, according to Morgan Stanley is $62 based on the research report published on January 30, 2024 of the current year 2024.
JP Morgan, on the other hand, stated in their research note that they expect to see BK reach a price target of $54.50. The rating they have provided for BK stocks is “Overweight” according to the report published on December 18th, 2023.
BofA Securities gave a rating of “Buy” to BK, setting the target price at $56 in the report published on January 12th of the previous year.
BK Trading at 2.39% from the 50-Day Moving Average
After a stumble in the market that brought BK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -2.15% of loss for the given period.
Volatility was left at 1.48%, however, over the last 30 days, the volatility rate increased by 1.53%, as shares surge +2.79% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.04% upper at present.
During the last 5 trading sessions, BK rose by +0.11%, which changed the moving average for the period of 200-days by +29.59% in comparison to the 20-day moving average, which settled at $56.24. In addition, Bank Of New York Mellon Corp saw 9.55% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BK starting from Keating Catherine, who sale 4,498 shares at the price of $54.81 back on Feb 08 ’24. After this action, Keating Catherine now owns 123,490 shares of Bank Of New York Mellon Corp, valued at $246,530 using the latest closing price.
Keating Catherine, the Sr. Exec. Vice President of Bank Of New York Mellon Corp, sale 31,322 shares at $55.01 during a trade that took place back on Jan 16 ’24, which means that Keating Catherine is holding 95,714 shares at $1,723,072 based on the most recent closing price.
Stock Fundamentals for BK
Current profitability levels for the company are sitting at:
- 0.17 for the present operating margin
- 0.97 for the gross margin
The net margin for Bank Of New York Mellon Corp stands at 0.15. The total capital return value is set at 0.01. Equity return is now at value 8.29, with 0.83 for asset returns.
Based on Bank Of New York Mellon Corp (BK), the company’s capital structure generated 0.61 points at debt to capital in total, while cash flow to debt ratio is standing at 0.09. The debt to equity ratio resting at 1.59. The interest coverage ratio of the stock is 0.32.
Currently, EBITDA for the company is 55.0 million with net debt to EBITDA at -15.14. When we switch over and look at the enterprise to sales, we see a ratio of -0.73. The receivables turnover for the company is 2.58for trailing twelve months and the total asset turnover is 0.05. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.73.
Conclusion
To put it simply, Bank Of New York Mellon Corp (BK) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
