The Bank of New York Mellon Corporation [NYSE: BK] surged by $0.28 during the normal trading session on Monday and reaching a high of $50.475 during the day while it closed the day at $50.25. The company report on July 22, 2021 that BNY Mellon Announces Redemption of 3.55% Senior Notes Due 2021.
The Bank of New York Mellon Corporation (“BNY Mellon”) announced that it will redeem all of the issued and outstanding 3.55% Senior Notes due September 23, 2021 (CUSIP 06406HBY4) (the “Notes”). The Notes have an aggregate principal amount of $1,500,000,000.
The redemption date for the Notes is August 23, 2021 (the “redemption date”). The redemption price for the Notes will equal 100% of the principal amount of the Notes plus any accrued and unpaid interest thereon to, but excluding, the redemption date.
The Bank of New York Mellon Corporation stock has also gained 5.61% of its value over the past 7 days. However, BK stock has inclined by 4.45% in the 3 months of the year. Over the past six months meanwhile, it has gained 21.67% and gained 18.40% year-on date.
The market cap for BK stock reached $43.87 billion, with 882.56 million shares outstanding and 873.26 million shares in the current float. Compared to the average trading volume of 4.66M shares, BK reached a trading volume of 4543396 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $53.63 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 2.20. 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.
Argus 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 20, 2021. The new note on the price target was released on June 17, 2021, representing the official price target for The Bank of New York Mellon Corporation stock. On January 11, 2021, analysts increased their price target for BK shares from 44 to 57.
The Average True Range (ATR) for The Bank of New York Mellon Corporation is set at 1.27, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 13.39. The Price to Book ratio for the last quarter was 1.10, with the Price to Cash per share for the same quarter was set at 229.67. Price to Free Cash Flow for BK in the course of the last twelve months was 16.25.
BK stock trade performance evaluation
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 5.61. With this latest performance, BK shares dropped by 0.00% in over the last four-week period, additionally plugging by 21.67% over the last 6 months – not to mention a rise of 38.70% 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 52.09, with the RSI for the last a single of trading hit 54.61, and the three-weeks RSI is set at 51.30 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 50.51, while it was recorded at 49.91 for the last single week of trading, and 44.81 for the last 200 days.
The Bank of New York Mellon Corporation [BK]: An insightful look at the core fundamentals
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 +25.58. The Bank of New York Mellon Corporation’s Net Margin is presently recorded at +21.49.
Return on Total Capital for BK is now 3.98, given the latest momentum, and Return on Invested Capital for the company is 5.35. Return on Equity for this stock inclined to 8.27, with Return on Assets sitting at 0.85. 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 140.59. Additionally, BK Total Debt to Total Capital is recorded at 58.44, with Total Debt to Total Assets ending up at 13.71. Long-Term Debt to Equity for the company is recorded at 55.27, with the Long-Term Debt to Total Capital now at 20.70.
Reflecting on the efficiency of the workforce at the company, The Bank of New York Mellon Corporation [BK] managed to generate an average of $74,454 per employee.
Earnings per share (EPS) analysis for The Bank of New York Mellon Corporation [BK] stock
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 11.32%.
The Bank of New York Mellon Corporation [BK]: Insider Ownership positions
There are presently around $36,520 million, or 84.70% of BK stock, in the hands of institutional investors. The top three institutional holders of BK stocks are: BERKSHIRE HATHAWAY INC with ownership of 72,357,453, which is approximately 0% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 69,154,302 shares of the stock with an approximate value of $3.48 billion in BK stocks shares; and DODGE & COX, currently with $3.09 billion in BK stock with ownership of nearly 0.178% of the company’s market capitalization.
Positions in The Bank of New York Mellon Corporation stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 484 institutional holders increased their position in The Bank of New York Mellon Corporation [NYSE:BK] by around 49,195,020 shares. Additionally, 436 investors decreased positions by around 64,517,885 shares, while 208 investors held positions by with 613,047,024 shares. The mentioned changes placed institutional holdings at 726,759,929 shares, according to the latest SEC report filing. BK stock had 121 new institutional investments in for a total of 4,898,118 shares, while 81 institutional investors sold positions of 17,204,673 shares during the same period.