The stock of Bank Of New York Mellon Corp (BK) has seen a 3.76% increase in the past week, with a -0.21% drop in the past month, and a 4.25% flourish in the past quarter. The volatility ratio for the week is 2.54%, and the volatility levels for the past 30 days are at 1.89% for BK. The simple moving average for the last 20 days is 1.64% for BK’s stock, with a simple moving average of 16.44% for the last 200 days.
Is It Worth Investing in Bank Of New York Mellon Corp (NYSE: BK) Right Now?
Bank Of New York Mellon Corp (NYSE: BK) has a price-to-earnings ratio of 13.91x that is above its average ratio. Additionally, the 36-month beta value for BK is 1.10. There are mixed opinions on the stock, with 5 analysts rating it as a “buy,” 1 rating it as “overweight,” 12 rating it as “hold,” and 2 rating it as “sell.”
The public float for BK is 752.20M and currently, short sellers hold a 0.94% ratio of that float. The average trading volume of BK on April 23, 2024 was 3.83M shares.
BK) stock’s latest price update
The stock price of Bank Of New York Mellon Corp (NYSE: BK) has jumped by 1.55 compared to previous close of 56.29. Despite this, the company has seen a gain of 3.76% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-17 that Higher fee income and solid improvement in AUM and AUC/A balances drive BNY Mellon’s (BK) Q1 earnings. On the other hand, lower NIR and a rise in expenses act as spoilsports.
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 2.61% 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 -1.91% of loss for the given period.
Volatility was left at 1.89%, however, over the last 30 days, the volatility rate increased by 2.54%, as shares surge +1.22% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.72% upper at present.
During the last 5 trading sessions, BK rose by +3.76%, which changed the moving average for the period of 200-days by +30.44% in comparison to the 20-day moving average, which settled at $56.27. In addition, Bank Of New York Mellon Corp saw 9.82% 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 54,070 shares at the price of $54.88 back on Apr 18 ’24. After this action, Keating Catherine now owns 78,350 shares of Bank Of New York Mellon Corp, valued at $2,967,362 using the latest closing price.
Keating Catherine, the Sr. Exec. Vice President of Bank Of New York Mellon Corp, sale 4,498 shares at $54.81 during a trade that took place back on Feb 08 ’24, which means that Keating Catherine is holding 123,490 shares at $246,530 based on the most recent closing price.
Stock Fundamentals for BK
Current profitability levels for the company are sitting at:
- 0.1 for the present operating margin
- 1.0 for the gross margin
The net margin for Bank Of New York Mellon Corp stands at 0.12. The total capital return value is set at 0.01. Equity return is now at value 8.45, with 0.80 for asset returns.
Based on Bank Of New York Mellon Corp (BK), the company’s capital structure generated 0.54 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 1.18. The interest coverage ratio of the stock is 0.28.
Currently, EBITDA for the company is 55.0 million with net debt to EBITDA at 64.51. When we switch over and look at the enterprise to sales, we see a ratio of 7.84. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.69.
Conclusion
In conclusion, Bank Of New York Mellon Corp (BK) has seen better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it 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.
