Bank Of New York Mellon Corp (NYSE:BK) shares, rose in value, with the stock price down by -0.07% to the previous day’s close as strong demand from buyers drove the stock to $54.41.
Actively observing the price movement in the last trading, the stock closed the session at $54.45. The value of beta (5-year monthly) was 1.10 whereas the PE ratio was 13.68 over 12-month period. Referring to stock’s 52-week performance, its high was $56.42, and the low was $39.65. On the whole, BK has fluctuated by -0.13% over the past month.
With the market capitalization of Bank Of New York Mellon Corp currently standing at about $41.05 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 16, 2024. The company’s Forward Dividend Ratio is 1.63, with its dividend yield at 3.00%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.19, which is expected to increase to $1.42 for fiscal year $5.28 and then to about $5.88 by fiscal year 2025. Data indicates that the EPS growth is expected to be 4.60% in 2025, while the next year’s EPS growth is forecast to be 11.40%.
Analysts have estimated the company’s revenue for the quarter at $4.37 billion, with a low estimate of $4.27 billion and a high estimate of $4.45 billion. According to the average forecast, sales growth in current quarter could jump up 0.10%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $17.62 billion, representing an increase of 0.70% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BK’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 1.19, with the price of BK currently trading nearly -1.81% and -0.85% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 41.57, while the 7-day volatility ratio is showing 1.56% which for the 30-day chart, stands at 1.48%. Furthermore, Bank Of New York Mellon Corp (BK)’s beta value is 1.10, and its average true range (ATR) is 0.84.
A comparison of Bank Of New York Mellon Corp (BK) with its peers suggests the former has fared considerably weaker in the market. BK showed an intraday change of -0.07% in last session, and over the past year, it grew by 23.63%%.
Data on historical trading for Bank Of New York Mellon Corp (NYSE:BK) indicates that the trading volumes over the past 10 days have averaged 3.71 million and over the past 3 months, they’ve averaged 3.98 million. According to company’s latest data on outstanding shares, there are 759.34 million shares outstanding.
Nearly 0.29% of Bank Of New York Mellon Corp’s shares belong to company insiders and institutional investors own 87.08% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.48 million shares as on Feb 29, 2024, resulting in a short ratio of 1.95. According to the data, the short interest in Bank Of New York Mellon Corp (BK) stood at 0.99% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 6.94 million. The stock has risen by 4.53% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BK stock heading into the next quarter.
