BofA Securities lifts The Bank of New York Mellon Corporation [BK] price estimate. Who else is bullish?

The Bank of New York Mellon Corporation [NYSE: BK] gained 1.81% or 0.87 points to close at $49.03 with a heavy trading volume of 13423548 shares. The company report on January 13, 2023 that BNY Mellon Declares Dividends.

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The Bank of New York Mellon Corporation (NYSE: BK) today announced that its Board of Directors declared dividends on its common and preferred stock as follows:.

Common – a quarterly common stock dividend of $0.37 per share, payable on February 3, 2023 to shareholders of record as of the close of business on January 23, 2023.

It opened the trading session at $47.66, the shares rose to $49.665 and dropped to $47.63, the range by which the price of stock traded the whole day. The daily chart for BK points out that the company has recorded 12.95% gains over the past six months. However, it is still -35.37% lower than its most recent low trading price.

If we look at the average trading volume of 5.02M shares, BK reached to a volume of 13423548 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 $53.93 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 2.20. 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.

BofA Securities have made an estimate for The Bank of New York Mellon Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 12, 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 $59, while Goldman analysts kept a Buy rating on BK stock.

The Average True Range (ATR) for The Bank of New York Mellon Corporation is set at 0.99, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 8.37. The Price to Book ratio for the last quarter was 1.14, with the Price to Cash per share for the same quarter was set at 205.35. Price to Free Cash Flow for BK in the course of the last twelve months was 4.40.

Trading performance analysis for BK stock

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 2.25. With this latest performance, BK shares gained by 7.24% in over the last four-week period, additionally plugging by 12.95% over the last 6 months – not to mention a drop of -22.85% 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 74.32, with the RSI for the last a single of trading hit 81.31, and the three-weeks RSI is set at 69.20 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 44.94, while it was recorded at 48.30 for the last single week of trading, and 43.62 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 +20.18. The Bank of New York Mellon Corporation’s Net Margin is presently recorded at +12.82.

Return on Equity for this stock inclined to 6.14, with Return on Assets sitting at 0.61.

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 7.14%.

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

There are presently around $32,891 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 $3.09 billion in BK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $3.05 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 468 institutional holders increased their position in The Bank of New York Mellon Corporation [NYSE:BK] by around 31,964,850 shares. Additionally, 456 investors decreased positions by around 30,197,283 shares, while 199 investors held positions by with 608,671,398 shares. The mentioned changes placed institutional holdings at 670,833,531 shares, according to the latest SEC report filing. BK stock had 81 new institutional investments in for a total of 9,828,089 shares, while 94 institutional investors sold positions of 1,468,372 shares during the same period.


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