Bank Of New York Mellon Corp (NYSE: BK) has experienced a rise in its stock price by 1.35 compared to its previous closing price of 80.14. However, the company has seen a gain of 3.27% in its stock price over the last five trading days. zacks.com reported 2024-11-25 that BK enters into a five-year agreement with the Fiscal Service to manage the Direct Express prepaid debit card program. This aligns with its revenue growth strategy.
Is It Worth Investing in Bank Of New York Mellon Corp (NYSE: BK) Right Now?
The price-to-earnings ratio for Bank Of New York Mellon Corp (NYSE: BK) is above average at 17.66x, Company’s 36-month beta value is 1.06.Analysts have differing opinions on the stock, with 6 analysts rating it as a “buy,” 4 as “overweight,” 12 as “hold,” and 2 as “sell.”
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The public float for BK is 725.04M, and currently, short sellers hold a 1.11% ratio of that floaft. The average trading volume of BK on November 26, 2024 was 3.86M shares.
BK’s Market Performance
The stock of Bank Of New York Mellon Corp (BK) has seen a 3.27% increase in the past week, with a 8.01% rise in the past month, and a 20.85% gain in the past quarter. The volatility ratio for the week is 1.35%, and the volatility levels for the past 30 days are at 1.48% for BK. The simple moving average for the past 20 days is 4.69% for BK’s stock, with a 27.56% simple moving average for the past 200 days.
Analysts’ Opinion of BK
Many brokerage firms have already submitted their reports for BK stocks, with Deutsche Bank repeating the rating for BK by listing it as a “Buy.” The predicted price for BK in the upcoming period, according to Deutsche Bank is $80 based on the research report published on September 23, 2024 of the current year 2024.
Citigroup, on the other hand, stated in their research note that they expect to see BK reach a price target of $65. The rating they have provided for BK stocks is “Neutral” according to the report published on July 15th, 2024.
Keefe Bruyette gave a rating of “Outperform” to BK, setting the target price at $70 in the report published on June 27th of the current year.
BK Trading at 7.94% 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 able to rebound, for now settling with 1.16% of gains for the given period.
Volatility was left at 1.48%, however, over the last 30 days, the volatility rate increased by 1.35%, as shares surge +6.16% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.16% upper at present.
During the last 5 trading sessions, BK rose by +3.27%, which changed the moving average for the period of 200-days by +47.08% in comparison to the 20-day moving average, which settled at $77.58. In addition, Bank Of New York Mellon Corp saw 56.04% 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 25,000 shares at the price of $76.31 back on Oct 15 ’24. After this action, McCarthy J Kevin now owns 75,404 shares of Bank Of New York Mellon Corp, valued at $1,907,872 using the latest closing price.
Smits Hanneke, the Sr. Exec. Vice President of Bank Of New York Mellon Corp, sale 16,475 shares at $76.47 during a trade that took place back on Oct 15 ’24, which means that Smits Hanneke is holding 157,455 shares at $1,259,869 based on the most recent closing price.
Stock Fundamentals for BK
Current profitability levels for the company are sitting at:
- 0.26 for the present operating margin
- 0.99 for the gross margin
The net margin for Bank Of New York Mellon Corp stands at 0.2. The total capital return value is set at 0.01. Equity return is now at value 8.86, with 0.88 for asset returns.
Based on Bank Of New York Mellon Corp (BK), the company’s capital structure generated 0.45 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 0.81. The interest coverage ratio of the stock is 0.28.
Currently, EBITDA for the company is 5.84 billion with net debt to EBITDA at -12.22. When we switch over and look at the enterprise to sales, we see a ratio of -1.3. The receivables turnover for the company is 0.65for trailing twelve months and the total asset turnover is 0.04. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.75.
Conclusion
In a nutshell, Bank Of New York Mellon Corp (BK) has experienced a better performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
