Deutsche Bank slashes price target on The Bank of New York Mellon Corporation [BK] – find out why.


The Bank of New York Mellon Corporation [NYSE: BK] loss -1.20% on the last trading session, reaching $41.27 price per share at the time. The company report on July 6, 2022 that BNY Mellon Names Dermot McDonogh as Next Chief Financial Officer; Emily Portney to Lead Treasury Services, Credit Services, and Clearance & Collateral Management Businesses.

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The Bank of New York Mellon Corporation (“BNY Mellon”) (NYSE: BK) announced today that Dermot McDonogh has been appointed as Chief Financial Officer (“CFO”) for the company, effective February 1, 2023. Mr. McDonogh will join the company on November 1, 2022, reporting to BNY Mellon’s Chief Executive Officer (“CEO”), and he will join the Executive Committee.

Ms. Portney will continue serving as CFO through January 31, 2023 and will work closely with Mr. McDonogh to ensure a seamless transition. Ms. Portney will then assume a new role leading the company’s Treasury Services, Credit Services, and Clearance & Collateral Management businesses. The heads of these businesses will report to Ms. Portney from February 1, 2023. Ms. Portney will continue to report to BNY Mellon’s CEO and serve as a member of the Executive Committee.

The Bank of New York Mellon Corporation represents 809.47 million in outstanding shares, while the company has a total market value of $33.66 billion with the latest information. BK stock price has been found in the range of $40.65 to $41.48.

If compared to the average trading volume of 4.87M shares, BK reached a trading volume of 3864357 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 $49.60 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 1.20, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 11.67. The Price to Book ratio for the last quarter was 0.90, with the Price to Cash per share for the same quarter was set at 247.90. Price to Free Cash Flow for BK in the course of the last twelve months was 4.78.

Trading performance analysis for BK stock

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 -0.75. With this latest performance, BK shares dropped by -3.55% in over the last four-week period, additionally sinking by -34.28% over the last 6 months – not to mention a drop of -17.39% 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 40.86, with the RSI for the last a single of trading hit 38.57, and the three-weeks RSI is set at 41.70 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 43.35, while it was recorded at 41.79 for the last single week of trading, and 52.57 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 +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.

The Bank of New York Mellon Corporation [BK]: An earnings per share (EPS) analysis

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 5.92%.

An analysis of insider ownership at The Bank of New York Mellon Corporation [BK]

There are presently around $28,193 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 $2.72 billion in BK stocks shares; and DODGE & COX, currently with $2.42 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 July and at the time of the July reporting period, where 524 institutional holders increased their position in The Bank of New York Mellon Corporation [NYSE:BK] by around 32,547,095 shares. Additionally, 504 investors decreased positions by around 32,728,242 shares, while 223 investors held positions by with 609,674,051 shares. The mentioned changes placed institutional holdings at 674,949,388 shares, according to the latest SEC report filing. BK stock had 120 new institutional investments in for a total of 8,097,951 shares, while 117 institutional investors sold positions of 4,231,424 shares during the same period.