The Bank of New York Mellon Corporation [BK] stock Downgrade by Citigroup analyst, price target now $50

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The Bank of New York Mellon Corporation [NYSE: BK] traded at a high on 04/25/22, posting a 0.36 gain after which it closed the day’ session at $44.37. The company report on April 25, 2022 that BNY Mellon Names Roman Regelman CEO of Securities Services and Digital.

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The Bank of New York Mellon Corporation (“BNY Mellon”) (NYSE: BK) announced today that Roman Regelman, Chief Executive Officer of Asset Servicing, will also assume leadership of the Issuer Services business, effective immediately. Mr. Regelman, a member of the Executive Committee, will continue to lead Digital for BNY Mellon. Current Issuer Services CEO Francis (Frank) J. La Salla will join The Depository Trust & Clearing Corporation (DTCC) in June and become the President and CEO later this year.

Mr. Regelman’s appointment further enhances the bank’s mission to create synergistic opportunities to build global scale and infrastructure for all asset types, expand access to capital around the world and further enable a resilient, capital markets ecosystem.

The results of the trading session contributed to over 6499740 shares changing hands. Over the past one week, the price volatility of The Bank of New York Mellon Corporation stands at 2.85% while the volatility over the past one month is 2.65%.

The market cap for BK stock reached $38.09 billion, with 811.50 million shares outstanding and 805.04 million shares in the current float. Compared to the average trading volume of 5.85M shares, BK reached a trading volume of 6499740 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $55.83 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 2.10. 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.

Citigroup have made an estimate for The Bank of New York Mellon Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 11, 2022. The new note on the price target was released on March 31, 2022, representing the official price target for The Bank of New York Mellon Corporation stock. Previously, the target price had yet another drop from $68 to $60, while Goldman kept a Neutral rating on BK stock. On March 28, 2022, analysts decreased their price target for BK shares from 65 to 58.

The Average True Range (ATR) for The Bank of New York Mellon Corporation is set at 1.38, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 13.17. The Price to Book ratio for the last quarter was 0.94, with the Price to Cash per share for the same quarter was set at 199.84.

How has BK stock performed recently?

The Bank of New York Mellon Corporation [BK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.98. With this latest performance, BK shares dropped by -14.74% in over the last four-week period, additionally sinking by -25.69% over the last 6 months – not to mention a drop of -7.77% 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 27.27, with the RSI for the last a single of trading hit 23.68, and the three-weeks RSI is set at 30.43 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 51.48, while it was recorded at 45.65 for the last single week of trading, and 54.95 for the last 200 days.

The Bank of New York Mellon Corporation [BK]: Deeper insight into the 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 +28.22. The Bank of New York Mellon Corporation’s Net Margin is presently recorded at +23.46.

Return on Equity for this stock inclined to 8.46, with Return on Assets sitting at 0.82.

Earnings analysis for The Bank of New York Mellon Corporation [BK]

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 7.72%.

Insider trade positions for The Bank of New York Mellon Corporation [BK]

There are presently around $29,965 million, or 85.30% 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 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 65,812,336 shares of the stock with an approximate value of $2.91 billion in BK stocks shares; and DODGE & COX, currently with $2.58 billion in BK stock with ownership of nearly -4.99% 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 April and at the time of the April reporting period, where 516 institutional holders increased their position in The Bank of New York Mellon Corporation [NYSE:BK] by around 16,668,597 shares. Additionally, 454 investors decreased positions by around 38,344,844 shares, while 231 investors held positions by with 622,780,952 shares. The mentioned changes placed institutional holdings at 677,794,393 shares, according to the latest SEC report filing. BK stock had 145 new institutional investments in for a total of 4,354,109 shares, while 74 institutional investors sold positions of 2,481,783 shares during the same period.