A share price of Bank Of New York Mellon Corp [BK] is currently trading at $56.61, up 0.12%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The BK shares have gain 2.48% over the last week, with a monthly amount glided 2.41%, and seem to be holding up well over a long-time horizon.
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On 26, March 2024, BNY Mellon 2024 Annual Meeting of Stockholders. In a post published today on Yahoo Finance, BNY Mellon (NYSE: BK) will hold the 2024 Annual Meeting of Stockholders at 240 Greenwich Street, New York, New York 10286 on Tuesday, April 9, 2024, at 9:00 a.m. ET. The Notice of Annual Meeting and Proxy Statement was made available on February 29, 2024.
From an analyst’s perspective:
Bank Of New York Mellon Corp [NYSE: BK] stock has seen the most recent analyst activity on January 30, 2024, when Morgan Stanley upgraded its rating to a Equal-Weight and also boosted its price target to $62 from $52. Previously, JP Morgan upgraded its rating to Overweight on December 18, 2023, and kept the price target unchanged to $54.50. Wolfe Research upgraded its rating to a Outperform but stick to its price target of $60 on January 04, 2023. Goldman upgraded its rating to a Buy but $59 remained the price target by the analyst firm on January 04, 2023. Morgan Stanley downgraded its rating to Underweight for this stock on December 06, 2022, but kept the price target unchanged to $42. In a note dated October 04, 2022, Citigroup upgraded an Buy rating on this stock but restated the target price of $46.
Bank Of New York Mellon Corp experienced fluctuations in its stock price throughout the past year between $39.65 and $57.45. Currently, Wall Street analysts expect the stock to reach $60 within the next 12 months. Bank Of New York Mellon Corp [NYSE: BK] shares were valued at $56.61 at the most recent close of the market. An investor can expect a potential return of 5.99% based on the average BK price forecast.
Analyzing the BK fundamentals
Trailing Twelve Months sales for Bank Of New York Mellon Corp [NYSE:BK] were 33.80B which represents 53.80% growth. Gross Profit Margin for this corporation currently stands at 0.97% with Operating Profit Margin at 0.17%, Pretax Profit Margin comes in at 0.19%, and Net Profit Margin reading is 0.15%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.08 and Total Capital is 0.01. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.59.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 56.39 points at the first support level, and at 56.17 for the second support level. However, for the 1st resistance point, the stock is sitting at 56.91, and for the 2nd resistance point, it is at 57.21.
Bank Of New York Mellon Corp [BK] reported earnings per share of $1.28 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.13/share, meaning a difference of $0.15 and a surprise factor of 13.30%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $1.27 per share as compared to estimates of $1.15 per share, a difference of $0.12 representing a surprise of 10.40%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Bank Of New York Mellon Corp [NYSE:BK] is 1.73. Considering the valuation of this stock, the price to sales ratio is 1.26, the price to book ratio is 1.18 and price to earnings (TTM) ratio is 14.23.
Transactions by insiders
Recent insider trading involved Keating Catherine, Sr. Exec. Vice President, that happened on Feb 08 ’24 when 4498.0 shares were sold. Sr. Exec. Vice President, Keating Catherine completed a deal on Jan 16 ’24 to sell 31322.0 shares. Meanwhile, Sr. Exec. Vice President Smits Hanneke sold 15425.0 shares on Jan 16 ’24.
