In yesterday’s Wall Street session, Bank Of New York Mellon Corp (NYSE:BK) shares traded at $65.02, down -1.05% from the previous session.
BK stock price is now 9.80% away from the 50-day moving average and 22.15% away from the 200-day moving average. The market capitalization of the company currently stands at $48.62B.
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With the price target maintained at $65, Citigroup recently Downgraded its rating from Buy to Neutral for Bank Of New York Mellon Corp (NYSE: BK). On June 27, 2024, Keefe Bruyette Upgraded its previous ‘Mkt Perform’ rating to ‘Outperform’ on the stock increasing its target price from $60 to quote $70, while ‘Morgan Stanley’ rates the stock as ‘Equal-Weight’
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 $9.41 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 $1.58 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 $65.90. According to the stock market information, the enterprise value for the company is -$54869037056, which is based on a 15.03 price-to-earnings ratio, a 1.14 price-to-earnings-growth ratio, and a beta of 1.09. The fifty day moving average price for BK is $59.3852 and a two-hundred day moving average price translates $53.34525 for the stock.
The latest earnings results from Bank Of New York Mellon Corp (NYSE: BK) was released for 2024-06-30. The net profit margin was 8.80% and return on equity was 8.64% 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.
