The stock price of Bank Of New York Mellon Corp (NYSE: BK) has jumped by 0.02 compared to previous close of 57.32. Despite this, the company has seen a gain of 0.30% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-29 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?
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 higher price-to-earnings ratio of 13.95x compared to its average ratio, The 36-month beta value for BK is at 1.10. Analysts have varying views on the stock, with 5 analysts rating it as a “buy,” 1 rating it as “overweight,” 12 as “hold,” and 2 as “sell.”
The public float for BK is 745.68M, and currently, shorts hold a 0.89% of that float. The average trading volume for BK on April 30, 2024 was 3.73M shares.
BK’s Market Performance
BK’s stock has seen a 0.30% increase for the week, with a -0.50% drop in the past month and a 2.56% gain in the past quarter. The volatility ratio for the week is 1.43%, and the volatility levels for the past 30 days are at 1.90% for Bank Of New York Mellon Corp. The simple moving average for the past 20 days is 1.68% for BK’s stock, with a 16.02% simple moving average for the past 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 2.44% 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 -1.62% of loss for the given period.
Volatility was left at 1.90%, however, over the last 30 days, the volatility rate increased by 1.43%, as shares surge +0.65% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.69% upper at present.
During the last 5 trading sessions, BK rose by +0.30%, which changed the moving average for the period of 200-days by +25.83% in comparison to the 20-day moving average, which settled at $56.40. In addition, Bank Of New York Mellon Corp saw 10.14% 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 McCarthy J Kevin, who sale 40,000 shares at the price of $56.15 back on Apr 19 ’24. After this action, McCarthy J Kevin now owns 100,404 shares of Bank Of New York Mellon Corp, valued at $2,245,868 using the latest closing price.
Keating Catherine, the Sr. Exec. Vice President of Bank Of New York Mellon Corp, sale 54,070 shares at $54.88 during a trade that took place back on Apr 18 ’24, which means that Keating Catherine is holding 78,350 shares at $2,967,362 based on the most recent closing price.
Stock Fundamentals for BK
Current profitability levels for the company are sitting at:
- 0.14 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 0.09. The debt to equity ratio resting at 1.18. The interest coverage ratio of the stock is 0.43.
Currently, EBITDA for the company is 55.0 million with net debt to EBITDA at 4.99. When we switch over and look at the enterprise to sales, we see a ratio of 2.03. 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 had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
