why The Bank of New York Mellon Corporation [BK] is a Good Choice for Investors After New Price Target of $64.88


The Bank of New York Mellon Corporation [NYSE: BK] surged by $2.09 during the normal trading session on Tuesday and reaching a high of $61.215 during the day while it closed the day at $60.60. The company report on January 3, 2022 that BNY Mellon Announces Redemption of 2.600% Senior Notes Due 2022.

The Bank of New York Mellon Corporation (“BNY Mellon”) today announced that it will redeem all of the issued and outstanding 2.600% Senior Notes due February 7, 2022 (CUSIP 06406RAA5) (the “Notes”). The Notes have an aggregate principal amount of $1,250,000,000.

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The redemption date for the Notes is January 13, 2022 (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 3.66% of its value over the past 7 days. However, BK stock has inclined by 11.36% in the 3 months of the year. Over the past six months meanwhile, it has gained 22.47% and gained 4.34% year-on date.

The market cap for BK stock reached $49.95 billion, with 844.09 million shares outstanding and 823.75 million shares in the current float. Compared to the average trading volume of 4.15M shares, BK reached a trading volume of 4863446 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 $64.88 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.

JP Morgan have made an estimate for The Bank of New York Mellon Corporation shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 16, 2021. The new note on the price target was released on December 06, 2021, representing the official price target for The Bank of New York Mellon Corporation stock. Previously, the target price had yet another raise to $55, while Argus analysts kept a Buy rating on BK stock.

The Average True Range (ATR) for The Bank of New York Mellon Corporation is set at 1.32, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 17.27. The Price to Book ratio for the last quarter was 1.31, with the Price to Cash per share for the same quarter was set at 243.08.

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 3.66. With this latest performance, BK shares gained by 10.42% in over the last four-week period, additionally plugging by 22.47% over the last 6 months – not to mention a rise of 43.74% 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 65.98, with the RSI for the last a single of trading hit 73.62, and the three-weeks RSI is set at 61.83 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 58.01, while it was recorded at 58.71 for the last single week of trading, and 53.02 for the last 200 days.

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 13.56%.

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The Bank of New York Mellon Corporation [BK]: Insider Ownership positions

There are presently around $40,613 million, or 86.30% 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 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 68,821,661 shares of the stock with an approximate value of $4.03 billion in BK stocks shares; and DODGE & COX, currently with $3.59 billion in BK stock with ownership of nearly -0.717% of the company’s market capitalization.

428 institutional holders increased their position in The Bank of New York Mellon Corporation [NYSE:BK] by around 19,456,342 shares. Additionally, 481 investors decreased positions by around 39,315,933 shares, while 218 investors held positions by with 635,351,155 shares. The mentioned changes placed institutional holdings at 694,123,430 shares, according to the latest SEC report filing. BK stock had 68 new institutional investments in for a total of 2,717,466 shares, while 90 institutional investors sold positions of 9,709,923 shares during the same period.