Market Analysts see The Bank of New York Mellon Corporation [BK] gaining to $56. Time to buy?

The Bank of New York Mellon Corporation [NYSE: BK] stock went on an upward path that rose over 0.08% on Tuesday, amounting to a one-week price increase of more than 0.89%. The company report on February 24, 2023 that BNY Mellon to Report First Quarter 2023 Results on April 18, 2023.

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BNY Mellon will report financial results for the first quarter 2023 on Tuesday, April 18, 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 10:30 a.m. ET that same day. This conference call and audio webcast will include forward-looking statements and may include other material information.

Over the last 12 months, BK stock dropped by -6.42%. The one-year The Bank of New York Mellon Corporation stock forecast points to a potential upside of 9.9. The average equity rating for BK stock is currently 2.20, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $40.99 billion, with 811.30 million shares outstanding and 806.77 million shares in the current float. Compared to the average trading volume of 5.09M shares, BK stock reached a trading volume of 5744731 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $56.47 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 0.82, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 5.76. The Price to Book ratio for the last quarter was 1.18, with the Price to Cash per share for the same quarter was set at 202.38. Price to Free Cash Flow for BK in the course of the last twelve months was 4.63.

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 0.89. With this latest performance, BK shares gained by 1.64% in over the last four-week period, additionally plugging by 21.14% over the last 6 months – not to mention a drop of -6.42% 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 56.53, with the RSI for the last a single of trading hit 53.14, and the three-weeks RSI is set at 58.82 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 48.76, while it was recorded at 50.53 for the last single week of trading, and 44.31 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 9.01%.

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

There are presently around $34,883 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 70,120,078, which is approximately 3.688% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 64,561,673 shares of the stock with an approximate value of $3.28 billion in BK stocks shares; and DODGE & COX, currently with $3.04 billion in BK stock with ownership of nearly 2.985% 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 Friday and at the time of the Friday reporting period, where 546 institutional holders increased their position in The Bank of New York Mellon Corporation [NYSE:BK] by around 60,797,251 shares. Additionally, 457 investors decreased positions by around 55,806,782 shares, while 196 investors held positions by with 568,983,246 shares. The mentioned changes placed institutional holdings at 685,587,279 shares, according to the latest SEC report filing. BK stock had 170 new institutional investments in for a total of 13,891,951 shares, while 72 institutional investors sold positions of 3,037,968 shares during the same period.


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