The Bank of New York Mellon Corporation [NYSE: BK] price surged by 1.80 percent to reach at $0.82. The company report on May 31, 2022 that Franklin Templeton to Acquire Alcentra from BNY Mellon.
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Transaction will double the size of Benefit Street Partners’ assets under management to $77 billion and increase Franklin Templeton’s alternative assets under management to $257 billion.
BNY Mellon and Alcentra will continue distribution and asset servicing relationship.
A sum of 3501504 shares traded at recent session while its average daily volume was at 5.59M shares. The Bank of New York Mellon Corporation shares reached a high of $46.50 and dropped to a low of $45.38 until finishing in the latest session at $46.47.
The one-year BK stock forecast points to a potential upside of 14.1. The average equity rating for BK stock is currently 2.40, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $54.10 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.
Deutsche Bank have made an estimate for The Bank of New York Mellon Corporation shares, keeping their opinion on the stock as Hold, with their previous recommendation back on May 19, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $59 to $51.50. The new note on the price target was released on April 27, 2022, representing the official price target for The Bank of New York Mellon Corporation stock. Previously, the target price had yet another drop from $70 to $50, while Citigroup kept a Neutral rating on BK stock.
The Average True Range (ATR) for The Bank of New York Mellon Corporation is set at 1.29, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 12.78. The Price to Book ratio for the last quarter was 1.02, with the Price to Cash per share for the same quarter was set at 254.76. Price to Free Cash Flow for BK in the course of the last twelve months was 5.23.
BK Stock Performance Analysis:
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 3.91. With this latest performance, BK shares gained by 7.79% in over the last four-week period, additionally sinking by -14.17% over the last 6 months – not to mention a drop of -10.98% 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 57.53, with the RSI for the last a single of trading hit 63.61, and the three-weeks RSI is set at 52.52 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 46.17, while it was recorded at 46.17 for the last single week of trading, and 53.96 for the last 200 days.
Insight into The Bank of New York Mellon Corporation 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.
BK Stock EPS
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 6.34%.
The Bank of New York Mellon Corporation [BK] Insider Position Details
There are presently around $30,927 million, or 85.20% 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 65,167,187 shares of the stock with an approximate value of $2.97 billion in BK stocks shares; and DODGE & COX, currently with $2.64 billion in BK stock with ownership of nearly -0.611% 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 530 institutional holders increased their position in The Bank of New York Mellon Corporation [NYSE:BK] by around 32,886,053 shares. Additionally, 508 investors decreased positions by around 32,936,143 shares, while 230 investors held positions by with 611,653,904 shares. The mentioned changes placed institutional holdings at 677,476,100 shares, according to the latest SEC report filing. BK stock had 123 new institutional investments in for a total of 8,253,308 shares, while 121 institutional investors sold positions of 4,376,343 shares during the same period.