In yesterday’s Wall Street session, Bank Of New York Mellon Corp (NYSE:BK) shares traded at $58.82, down -0.03% from the previous session.
BK stock price is now 1.73% away from the 50-day moving average and 13.25% away from the 200-day moving average. The market capitalization of the company currently stands at $43.99B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target enhanced from $52 to $62, Morgan Stanley Upgraded its rating from Underweight to Equal-Weight for Bank Of New York Mellon Corp (NYSE: BK). On December 18, 2023, JP Morgan Upgraded its previous ‘Neutral’ rating to ‘Overweight’ on the stock keeping its target price maintained at $54.50, while ‘BofA Securities’ rates the stock as ‘Buy’
In other news, Santhanakrishnan Senthilkumar, Senior Exec VP sold 15,643 shares of the company’s stock on May 08 ’24. The stock was sold for $901,772 at an average price of $57.65. Upon completion of the transaction, the Senior Exec VP now directly owns 144,721 shares in the company, valued at $8.51 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 07 ’24, Corporate Controller Kurimsky Kurtis R. sold 6,215 shares of the business’s stock. A total of $360,043 was realized by selling the stock at an average price of $57.93. This leaves the insider owning 24,346 shares of the company worth $1.43 million. A total of 0.28% of the company’s stock is owned by insiders.
During the past 12 months, Bank Of New York Mellon Corp has had a low of $39.66 and a high of $60.87. According to the stock market information, the enterprise value for the company is -$56436473856, which is based on a 14.32 price-to-earnings ratio, a 1.33 price-to-earnings-growth ratio, and a beta of 1.08. The fifty day moving average price for BK is $57.8806 and a two-hundred day moving average price translates $52.0054 for the stock.
The latest earnings results from Bank Of New York Mellon Corp (NYSE: BK) was released for 2024-03-31. The net profit margin was 8.83% and return on equity was 8.45% for BK. The company reported revenue of $6.1 billion for the quarter, compared to $3.94 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 54.64 percent.
