Bank Of New York Mellon Corp (NYSE:BK) shares traded -0.23% lower at $70.95 on Wall Street last session.
BK stock price is now 5.94% away from the 50-day moving average and 19.72% away from the 200-day moving average. The market capitalization of the company currently stands at $52.36B.
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 $66 to $80, Deutsche Bank Upgraded its rating from Hold to Buy for Bank Of New York Mellon Corp (NYSE: BK). On July 15, 2024, Citigroup Downgraded its previous ‘Buy’ rating to ‘Neutral’ on the stock keeping its target price maintained at $65, while ‘Keefe Bruyette’ rates the stock as ‘Outperform’
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 $12.34 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 $10.27 million. A total of 0.26% 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 $73.19. According to the stock market information, the enterprise value for the company is -$47621914624, which is based on a 16.40 price-to-earnings ratio, a 1.11 price-to-earnings-growth ratio, and a beta of 1.07. The fifty day moving average price for BK is $67.1178 and a two-hundred day moving average price translates $59.3602 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.
