The Bank of New York Mellon Corporation [NYSE: BK] slipped around -0.42 points on Wednesday, while shares priced at $43.70 at the close of the session, down -0.95%. The company report on September 14, 2023 at 4:15 PM that BNY Mellon Announces Settlement of Cash Tender Offer by its Wholly Owned Subsidiary for Certain of its Senior Notes.
The Bank of New York Mellon Corporation (“BNY Mellon”) (NYSE: BK) today announced the settlement of the previously announced cash tender offer (the “Offer”) by BNY Mellon Capital Markets, LLC (“BNYMCM”), an indirect wholly-owned subsidiary of BNY Mellon, which commenced on September 5, 2023, to purchase any and all of the securities of BNY Mellon listed in the table below (the “Securities”). The Offer expired on September 11, 2023, at 5:00 p.m., New York City time (the “Expiration Date”). The Offer was made solely pursuant to the Offer to Purchase (the “Offer to Purchase”) and the related Notice of Guaranteed Delivery (the “Notice of Guaranteed Delivery”), each dated September 5, 2023.
BNYMCM has accepted for purchase and purchased the aggregate principal amounts of Securities, as set forth in the table below, and paid the Total Consideration, as set forth in the table below, for the Securities.
The Bank of New York Mellon Corporation stock is now -4.00% down from its year-to-date (YTD) trading value. BK Stock saw the intraday high of $44.52 and lowest of $43.65 per share. The company’s 52-week high price is 52.26, which means current price is +10.21% above from all time high which was touched on 02/14/23.
Compared to the average trading volume of 4.50M shares, BK reached a trading volume of 4151194 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say 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 $53.80 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 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 2.40. The Price to Book ratio for the last quarter was 0.95, with the Price to Cash per share for the same quarter was set at 234.61. Price to Free Cash Flow for BK in the course of the last twelve months was 4.06.
How has BK stock performed recently?
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 -3.47. With this latest performance, BK shares dropped by -0.14% in over the last four-week period, additionally sinking by -3.19% over the last 6 months – not to mention a drop of -1.15% 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 40.37, with the RSI for the last a single of trading hit 34.22, and the three-weeks RSI is set at 43.97 for The Bank of New York Mellon Corporation [BK]. The present Moving Average for the last 50 days of trading for this stock 44.83, while it was recorded at 44.73 for the last single week of trading, and 45.34 for the last 200 days.
The Bank of New York Mellon Corporation [BK]: Deeper insight into the 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 +19.79. The Bank of New York Mellon Corporation’s Net Margin is presently recorded at +12.91.
Return on Total Capital for BK is now 3.63, given the latest momentum, and Return on Invested Capital for the company is 3.81. Return on Equity for this stock inclined to 6.14, with Return on Assets sitting at 0.61. When it comes to the capital structure of this company, The Bank of New York Mellon Corporation [BK] has a Total Debt to Total Equity ratio set at 166.84. Additionally, BK Total Debt to Total Capital is recorded at 62.52, with Total Debt to Total Assets ending up at 16.75. Long-Term Debt to Equity for the company is recorded at 73.24, with the Long-Term Debt to Total Capital now at 24.19.
Reflecting on the efficiency of the workforce at the company, The Bank of New York Mellon Corporation [BK] managed to generate an average of $49,768 per employee.
Earnings analysis for The Bank of New York Mellon Corporation [BK]
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 7.80%.
Insider trade positions for The Bank of New York Mellon Corporation [BK]
The top three institutional holders of BK stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in BK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in BK stock with ownership which is approximately 5.7381%.