Bank Of New York Mellon Corp [BK] stock Upgrade by Morgan Stanley analyst, price target now $62

Bank Of New York Mellon Corp [NYSE: BK] stock went on an upward path that rose over 0.38% on Wednesday, amounting to a one-week price decrease of less than -0.34%. The company report on February 6, 2024 at 5:00 PM that BNY Mellon to Speak at the UBS Financial Services Conference.

BNY Mellon (NYSE: BK) today announced that Jim Crowley, Global Head of Pershing, will speak at the UBS Financial Services Conference in Key Biscayne, Florida at 12:10 p.m. ET on Tuesday, February 27, 2024. The discussion may include forward-looking statements and other material information.

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A live webcast of the audio portion of the conference will be available on the BNY Mellon website (www.bnymellon.com/investorrelations). An archived version of the audio portion will be available on the BNY Mellon website approximately 24 hours after the live webcast and will remain available until March 27, 2024.

Over the last 12 months, BK stock rose by 9.36%. The one-year Bank Of New York Mellon Corp stock forecast points to a potential upside of 10.25. The average equity rating for BK stock is currently 1.84, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $42.51 billion, with 769.07 million shares outstanding and 767.23 million shares in the current float. Compared to the average trading volume of 4.40M shares, BK stock reached a trading volume of 3391023 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Bank Of New York Mellon Corp [BK]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BK shares is $61.58 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 1.84. 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.

Morgan Stanley have made an estimate for Bank Of New York Mellon Corp shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on January 30, 2024.

The Average True Range (ATR) for Bank Of New York Mellon Corp is set at 0.79, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 1.26. The Price to Book ratio for the last quarter was 1.15. Price to Free Cash Flow for BK in the course of the last twelve months was 4.43.

BK Stock Performance Analysis:

Bank Of New York Mellon Corp [BK] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.34. With this latest performance, BK shares gained by 4.88% in over the last four-week period, additionally plugging by 20.89% over the last 6 months – not to mention a rise of 9.36% 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 63.33, with the RSI for the last a single of trading hit 58.24, and the three-weeks RSI is set at 65.86 for Bank Of New York Mellon Corp [BK]. The present Moving Average for the last 50 days of trading for this stock 52.26, while it was recorded at 55.29 for the last single week of trading, and 45.75 for the last 200 days.

Insight into Bank Of New York Mellon Corp Fundamentals:

Bank Of New York Mellon Corp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 4.31.

BK Stock EPS

With the latest financial reports released by the company, Bank Of New York Mellon Corp posted 1.13/share EPS, while the average EPS was predicted by analysts to be reported at 1.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.90%. 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 Bank Of New York Mellon Corp go to 11.76%.

Bank Of New York Mellon Corp [BK] Institutonal Ownership Details

The top three institutional holders of BK stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BK stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BK stock with ownership which is approximately 5.8325%.