Bank Of New York Mellon Corp [NYSE: BK] jumped around 1.13 points on Thursday, while shares priced at $57.28 at the close of the session, up 2.01%. The company report on March 21, 2024 at 8:30 AM that BNY Mellon Announces Redemption of Floating Rate Senior Notes Due 2024.
The Bank of New York Mellon Corporation (“BNY Mellon”) (NYSE: BK) today announced that it will redeem all of the issued and outstanding Floating Rate Senior Notes due April 26, 2024 (CUSIP 06406RAT4) (the “Notes”). The Notes have an aggregate principal amount of $400,000,000.
The redemption date for the Notes is March 26, 2024 (the “Redemption Date”). The redemption price for the Notes will equal 100% of the principal amount of the Notes plus any accrued and unpaid interest thereon to, but excluding, the Redemption Date (the “Redemption Price”).
Compared to the average trading volume of 3.95M shares, BK reached a trading volume of 3444933 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about 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 $61.94 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 new note on the price target was released on December 18, 2023, representing the official price target for Bank Of New York Mellon Corp stock. Previously, the target price had yet another raise to $56, while BofA Securities analysts kept a Buy rating on BK stock.
The Average True Range (ATR) for Bank Of New York Mellon Corp is set at 0.86, with the Price to Sales ratio for BK stock in the period of the last 12 months amounting to 1.28. The Price to Book ratio for the last quarter was 1.19. Price to Free Cash Flow for BK in the course of the last twelve months was 9.21.
How has BK stock performed recently?
Bank Of New York Mellon Corp [BK] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.20. With this latest performance, BK shares gained by 3.92% in over the last four-week period, additionally plugging by 31.08% over the last 6 months – not to mention a rise of 26.89% 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 67.57, with the RSI for the last a single of trading hit 73.21, and the three-weeks RSI is set at 65.05 for Bank Of New York Mellon Corp [BK]. The present Moving Average for the last 50 days of trading for this stock 55.20, while it was recorded at 55.60 for the last single week of trading, and 47.87 for the last 200 days.
Bank Of New York Mellon Corp [BK]: Deeper insight into the fundamentals
Bank Of New York Mellon Corp’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.73.
Earnings analysis for Bank Of New York Mellon Corp [BK]
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 11.45%.
Insider trade positions for Bank Of New York Mellon Corp [BK]
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%.
