Bank Of New York Mellon Corp (NYSE:BK) shares traded 1.36% higher at $64.98 on Wall Street last session.
BK stock price is now 5.52% away from the 50-day moving average and 16.83% away from the 200-day moving average. The market capitalization of the company currently stands at $47.95B.
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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, Smits Hanneke, Sr. Exec. Vice President sold 15,000 shares of the company’s stock on Jul 18 ’24. The stock was sold for $961,620 at an average price of $64.11. Upon completion of the transaction, the Sr. Exec. Vice President now directly owns 173,930 shares in the company, valued at $11.3 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 08 ’24, Senior Exec VP Santhanakrishnan Senthilkumar sold 15,643 shares of the business’s stock. A total of $901,772 was realized by selling the stock at an average price of $57.65. This leaves the insider owning 144,721 shares of the company worth $9.4 million. A total of 0.29% 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 -$52669546496, which is based on a 15.02 price-to-earnings ratio, a 1.14 price-to-earnings-growth ratio, and a beta of 1.07. The fifty day moving average price for BK is $61.5818 and a two-hundred day moving average price translates $55.62115 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 $6.39 billion for the quarter, compared to $5.22 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 22.36 percent.
