When looking at valuations, The Bank of New York Mellon Corporation (BK) has a cheap P/E of 13.63x as compared to industry average of 240.74x. It trades for 11.34 times the next 12 months of expected earnings. It is trading at rather expensive levels at just over 1.38x price/book and 8.1x price/sales. Compared to others, The Bank of New York Mellon Corporation is in a different league with regards to profitability, having net margins of 66.4%. To put some perspective around this, the industry’s average net margin is 43.65%. BK’s ROE is 11.2%, which is considerably better than the industry’s ROE of 8.71%.
The Bank of New York Mellon Corporation (NYSE:BK) is now worth $52.12B thanks to -0.78% drop in recent trade and currently has a price tag of $52.43. The shares traded as low as $52.41 and had $53.11 an intraday high earlier Wednesday. Trading activity significantly weakened as the volume at ready counter decreased to 3,942,145 shares versus 5,265,105 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 5,067,073 shares. The stock is now 20.06% above against its bear-market low of $43.67 on December 26, 2018. It has retreated -11.9% since it’s 52-week high of $58.67 reached in February. Now the market price is down -3.99% on the year and up 11.39% YTD.
BK’s 50 day simple moving average (SMA 50) price is $49.53 and its 200-day simple moving average (SMA 200) price is $51.89. The company’s stock currently has a total float of 985.05M shares. Its weekly volatility is hovering around 1.33% and felt 1.78% volatility in price over a month. On the upside, the share price will test short term resistance at around $52.89. On a downside, the stock is likely to find some support, which begins at $52.19. The failure to get near-term support could push it to $51.95.
Separately, it has been reported that multiple insider activity took place at The Bank of New York Mellon Corporation (BK). Director Trian Fund Management, L.P. sold 2,107,000 shares for $14,020,272 in transaction occurred on 2019/01/28. After making this transaction, the Director owns a direct stake of 113,000,000 shares, worth $735,000,000, as per the last closing price. On 2018/05/11 Kurimsky Kurtis R., Controller at BK, dumped 4,701 shares at an average price of $57.44 per share. The selling total is valued at $864,413.
Sr. Executive Vice President, Harris Mitchell E. had divested 48,000 shares for $150,595 through a trade on 2018/04/23. Following this activity, the insider holds 2,688,000 shares worth $7,895,696 as of recent close. Wall Street’s most bullish The Bank of New York Mellon Corporation (NYSE:BK) analysts are predicting the share price to blow past $67 per share during the next 12 months. The current median share price forecast by them is $53, suggesting that the stock could increase 1.09% in that time frame. The average price target of $53.45 calls for a nearly 1.95% increase in the stock price.
It had seen a negative analyst call from Citigroup, which downgraded the stock from Buy to Neutral on January 09. Analysts at Keefe Bruyette, shed their positive views on October 19 by lowering it fromMkt Perform to Underperform. The stock lost favor of Raymond James analysts who expressed their lack of confidence in it using a downgrade from Outperform to Mkt Perform on July 12. Goldman analysts came out with bearish views on March 12 when the call was made. They think the stock is now Neutral compared to to their prior call for Buy.
Shares of The Bank of New York Mellon Corporation (BK) have gained 6.9% since the company’s last earnings report. Over the past 12 fiscal quarters, The Bank of New York Mellon Corporation (NYSE:BK) has topped consensus earnings estimates in 8 quarters (66%), missed earnings in 1 quarters (8%), whereas at 3 occasion EPS met analyst expectations. BK last reported earnings on January 16, 2019 when it released Dec-18 results that exceeded expectations. The company raked in $0.99 per share, -86.96% change on the same period last year. That was better than consensus for $0.92. Revenue for the recent quarter stood at $4.01 billion, down -1% on last year and below the $4.02 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $3.94 billion to $4.14 billion, which should be compared with $4.2 billion generated last year. EPS is seen in a range of $0.88 to $1.05, against the $1.04 reported a year ago.