BofA Securities 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 surged by 0.20 percent to reach at $0.1. The company report on January 23, 2023 that BNY Mellon and Fiserv Expand Real-Time FX Rate Quotes Capabilities for Payments from U.S. Financial Institutions.


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BNY Mellon and Fiserv, a leading global provider of payments and financial services technology, have joined forces to deliver additional capabilities for real-time foreign exchange (FX) rate quotes for payments from U.S. financial institutions.

Using innovative application programming interface (API) connectivity, financial institutions leveraging Payments Exchange: Foreign Exchange Services from Fiserv can now seamlessly access BNY Mellon’s real-time FX rate quotes in over 120 currencies without the need for additional integration. This new offering provides U.S. financial institutions the ability to execute currency conversions for cross-border payments with upfront rate visibility.

A sum of 5320006 shares traded at recent session while its average daily volume was at 5.17M shares. The Bank of New York Mellon Corporation shares reached a high of $49.615 and dropped to a low of $49.085 until finishing in the latest session at $49.34.

The one-year BK stock forecast points to a potential upside of 11.78. The average equity rating for BK stock is currently 2.20, 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 $55.93 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 0.96, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 5.57. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 203.02. Price to Free Cash Flow for BK in the course of the last twelve months was 4.48.

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 0.63. With this latest performance, BK shares gained by 11.40% in over the last four-week period, additionally plugging by 15.50% over the last 6 months – not to mention a drop of -17.66% 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 70.22, with the RSI for the last a single of trading hit 72.45, and the three-weeks RSI is set at 67.27 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 45.65, while it was recorded at 49.28 for the last single week of trading, and 43.61 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 +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.

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 9.46%.

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

There are presently around $33,138 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 $3.11 billion in BK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $3.07 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 490 institutional holders increased their position in The Bank of New York Mellon Corporation [NYSE:BK] by around 32,498,148 shares. Additionally, 442 investors decreased positions by around 30,107,500 shares, while 200 investors held positions by with 609,014,718 shares. The mentioned changes placed institutional holdings at 671,620,366 shares, according to the latest SEC report filing. BK stock had 94 new institutional investments in for a total of 9,808,989 shares, while 84 institutional investors sold positions of 1,400,926 shares during the same period.

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