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

The Bank of New York Mellon Corporation [NYSE: BK] price plunged by -0.27 percent to reach at -$0.13. The company report on November 14, 2022 that BNY Mellon to Report Fourth Quarter 2022 Results on January 13, 2023.


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BNY Mellon will report financial results for the fourth quarter 2022 on Friday, January 13, 2023. Materials will be posted to BNY Mellon’s website at approximately 6:30 a.m. ET, and management will host a conference call and simultaneous live audio webcast at 10:00 a.m. ET that same day. This conference call and audio webcast will include forward-looking statements and may include other material information.

A sum of 3745272 shares traded at recent session while its average daily volume was at 4.99M shares. The Bank of New York Mellon Corporation shares reached a high of $48.365 and dropped to a low of $47.86 until finishing in the latest session at $48.01.

The one-year BK stock forecast points to a potential upside of 7.55. The average equity rating for BK stock is currently 2.30, 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 $51.93 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 2.30. 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.

Wolfe Research have made an estimate for The Bank of New York Mellon Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on January 04, 2023. The new note on the price target was released on January 04, 2023, representing the official price target for The Bank of New York Mellon Corporation stock. Previously, the target price had yet another raise to $42, while Morgan Stanley analysts kept a Underweight rating on BK stock.

The Average True Range (ATR) for The Bank of New York Mellon Corporation is set at 0.91, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 8.22. The Price to Book ratio for the last quarter was 1.12, with the Price to Cash per share for the same quarter was set at 204.86. Price to Free Cash Flow for BK in the course of the last twelve months was 2.99.

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 3.69. With this latest performance, BK shares gained by 7.67% in over the last four-week period, additionally plugging by 14.94% over the last 6 months – not to mention a drop of -22.97% 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 69.63, with the RSI for the last a single of trading hit 75.16, and the three-weeks RSI is set at 65.64 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 44.57, while it was recorded at 47.75 for the last single week of trading, and 43.68 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 5.76%.

The Bank of New York Mellon Corporation [BK] Insider Position Details

There are presently around $32,208 million, or 85.50% of BK stock, in the hands of institutional investors. The top three institutional holders of BK stocks are: VANGUARD GROUP INC with ownership of 67,626,336, which is approximately 1.781% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 62,931,666 shares of the stock with an approximate value of $3.02 billion in BK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $2.99 billion in BK stock with ownership of nearly -14.023% 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 January and at the time of the January reporting period, where 465 institutional holders increased their position in The Bank of New York Mellon Corporation [NYSE:BK] by around 32,065,930 shares. Additionally, 454 investors decreased positions by around 30,167,601 shares, while 200 investors held positions by with 608,619,984 shares. The mentioned changes placed institutional holdings at 670,853,515 shares, according to the latest SEC report filing. BK stock had 77 new institutional investments in for a total of 9,828,584 shares, while 95 institutional investors sold positions of 1,468,383 shares during the same period.

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