Stocks of Bank Of New York Mellon Corp (NYSE:BK) traded higher last session on Wall Street, up 0.17% to $76.50.
BK stock price is now 8.18% away from the 50-day moving average and 24.99% away from the 200-day moving average. The market capitalization of the company currently stands at $55.62B.
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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, McCarthy J Kevin, SEVP & General Counsel sold 25,000 shares of the company’s stock on Oct 15 ’24. The stock was sold for $1,907,872 at an average price of $76.31. Upon completion of the transaction, the SEVP & General Counsel now directly owns 75,404 shares in the company, valued at $5.77 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 15 ’24, Sr. Exec. Vice President Smits Hanneke sold 16,475 shares of the business’s stock. A total of $1,259,869 was realized by selling the stock at an average price of $76.47. This leaves the insider owning 157,455 shares of the company worth $12.05 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 $41.28 and a high of $78.03. According to the stock market information, the enterprise value for the company is -$37863534592, which is based on a 16.62 price-to-earnings ratio, a 1.17 price-to-earnings-growth ratio, and a beta of 1.07. The fifty day moving average price for BK is $70.7184 and a two-hundred day moving average price translates $61.2057 for the stock.
The latest earnings results from Bank Of New York Mellon Corp (NYSE: BK) was released for 2024-09-30. The net profit margin was 8.89% and return on equity was 8.86% for BK. The company reported revenue of $6.65 billion for the quarter, compared to $5.52 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 20.53 percent.
