The Bank of New York Mellon Corporation [NYSE: BK] gained 4.89% or 1.76 points to close at $37.75 with a heavy trading volume of 5744083 shares. The company report on August 4, 2020 that BNY Mellon to Report Third Quarter 2020 Results on October 16, 2020.
BNY Mellon will report financial results for the third quarter 2020 on Friday, October 16, 2020. Materials will be posted to BNY Mellon’s website at approximately 6:30 a.m. EDT, and management will host a conference call and simultaneous live audio webcast at 8 a.m. EDT that same day. This conference call and audio webcast will include forward-looking statements and may include other material information.
Conference Call and Audio Webcast Access.
It opened the trading session at $35.96, the shares rose to $37.83 and dropped to $35.94, the range by which the price of stock traded the whole day. The daily chart for BK points out that the company has recorded -20.11% loss over the past six months. However, it is still -42.99% lower than its most recent low trading price.
If we look at the average trading volume of 5.80M shares, BK reached to a volume of 5744083 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about The Bank of New York Mellon Corporation [BK]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BK shares is $44.25 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BK stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Jefferies have made an estimate for The Bank of New York Mellon Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 08, 2020. While these analysts kept the previous recommendation, Seaport Global Securities raised their target price to Buy. The new note on the price target was released on July 08, 2020, representing the official price target for The Bank of New York Mellon Corporation stock. Previously, the target price had yet another raise to $41.50, while JP Morgan analysts kept a Neutral rating on BK stock.
The Average True Range (ATR) for The Bank of New York Mellon Corporation is set at 1.03, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 5.16. The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 221.44. Price to Free Cash Flow for BK in the course of the last twelve months was 5.82.
Trading performance analysis for BK stock
The Bank of New York Mellon Corporation [BK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.30. With this latest performance, BK shares gained by 1.62% in over the last four-week period, additionally sinking by -20.11% over the last 6 months – not to mention a drop of -17.16% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BK stock in for the last two-week period is set at 54.62, with the RSI for the last a single of trading hit 63.05, and the three-weeks RSI is set at 53.32 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 37.81, while it was recorded at 36.38 for the last single week of trading, and 41.30 for the last 200 days.
The Bank of New York Mellon Corporation [BK]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and The Bank of New York Mellon Corporation [BK] shares currently have an operating margin of +26.48. The Bank of New York Mellon Corporation’s Net Margin is presently recorded at +21.26.
Return on Total Capital for BK is now 5.13, given the latest momentum, and Return on Invested Capital for the company is 7.51. Return on Equity for this stock inclined to 10.77, with Return on Assets sitting at 1.19. When it comes to the capital structure of this company, The Bank of New York Mellon Corporation [BK] has a Total Debt to Total Equity ratio set at 186.02. Additionally, BK Total Debt to Total Capital is recorded at 65.04, with Total Debt to Total Assets ending up at 16.77. Long-Term Debt to Equity for the company is recorded at 65.86, with the Long-Term Debt to Total Capital now at 25.40.
Reflecting on the efficiency of the workforce at the company, The Bank of New York Mellon Corporation [BK] managed to generate an average of $91,384 per employee.
The Bank of New York Mellon Corporation [BK]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, The Bank of New York Mellon Corporation posted 1.07/share EPS, while the average EPS was predicted by analysts to be reported at 0.99/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BK. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for The Bank of New York Mellon Corporation go to 3.04%.
An analysis of insider ownership at The Bank of New York Mellon Corporation [BK]
There are presently around $27,770 million, or 86.60% of BK stock, in the hands of institutional investors. The top three institutional holders of BK stocks are: BERKSHIRE HATHAWAY INC with ownership of 79,765,057, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 64,883,860 shares of the stock with an approximate value of $2.45 billion in BK stocks shares; and BLACKROCK INC., currently with $1.99 billion in BK stock with ownership of nearly -0.256% of the company’s market capitalization.
377 institutional holders increased their position in The Bank of New York Mellon Corporation [NYSE:BK] by around 55,092,918 shares. Additionally, 528 investors decreased positions by around 64,057,259 shares, while 160 investors held positions by with 616,481,848 shares. The mentioned changes placed institutional holdings at 735,632,025 shares, according to the latest SEC report filing. BK stock had 103 new institutional investments in for a total of 8,061,817 shares, while 139 institutional investors sold positions of 6,319,054 shares during the same period.