In the last trading session, 4.26 million The Bank of New York Mellon Corporation (NYSE:BK) shares changed hands as the company’s beta touched 1.09. With the company’s per share price at $51.14 changed hands at -$1.1 or -2.11% during last session, the market valuation stood at $44.97B. BK’s last price was a discount, traded about -10.75% off its 52-week high of $56.64. The share price had its 52-week low at $32.65, which suggests the last value was 36.16% up since then. When we look at The Bank of New York Mellon Corporation’s average trading volume, we note the 10-day average is 4.64 million shares, with the 3-month average coming to 4.81 million.
Analysts gave the The Bank of New York Mellon Corporation (BK) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.20. If we narrow down to specifics, the data shows that 0 out of 19 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 8 recommended BK as a Hold, 11 felt it is a Buy and 0 rated the stock as Underweight. The Bank of New York Mellon Corporation’s EPS for the current quarter is expected to be $0.98.
The Bank of New York Mellon Corporation (NYSE:BK) trade information
Instantly BK was in red as seen at the end of in last trading. With action -3.73%, the performance over the past five days has been red. The drop to weekly highs of 53.66 on Tuesday, 09/14/21 subtracted -2.11% to the stock’s daily price. The company’s shares are showing year-to-date upside of 20.50%, with the 5-day performance at -3.73% in the red. However, in the 30-day time frame, The Bank of New York Mellon Corporation (NYSE:BK) is -5.07% down. Looking at the short shares, we see there were 7.4 million shares sold at short interest cover period of 1.54 days.
The consensus price target for the stock as assigned by Wall Street analysts is $56.69, meaning bulls need an upside of 9.79% from its current market value. According to analyst projections, BK’s forecast low is $49.00 with $71.00 as the target high. To hit the forecast high, the stock’s price needs a -38.83% plunge from its current level, while the stock would need to tank 4.18% for it to hit the projected low.
The Bank of New York Mellon Corporation (BK) estimates and forecasts
Data shows that the The Bank of New York Mellon Corporation share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 10.60% over the past 6 months, a 3.74% in annual growth rate that is considerably lower than the industry average of 36.90%. Year-over-year growth is forecast to reach -0.60% down from the last financial year.
Consensus estimates given by 14 financial analysts project the company’s revenue in the current quarter to hit an average of $3.9 billion. 13 analysts are of the opinion that The Bank of New York Mellon Corporation’s revenue for the quarter ending Dec 2021 will be $3.92 billion. The company’s revenue for the corresponding quarters a year ago was $3.85 billion and $3.84 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1.30%. The estimates for the next quarter sales put growth at 2.00%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 7.20%. The 2021 estimates are for The Bank of New York Mellon Corporation earnings to decrease by -15.10%, but the outlook for the next 5-year period is at 11.30% per year.
The Bank of New York Mellon Corporation is expected to release its next quarterly earnings report between October 14 and October 18. The 2.66% annual yield figure for the share gives it an annual dividend of 1.36. It is important to note, however, that the 2.66% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision. During the past 5 years, the average dividend yield was 2.27 per year.
The Bank of New York Mellon Corporation (NYSE:BK)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.25% of The Bank of New York Mellon Corporation shares while 86.60% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 86.82%. There are 86.60% institutions holding the The Bank of New York Mellon Corporation stock share, with Berkshire Hathaway, Inc the top institutional holder. As of Mar 30, 2021, the company held 8.38% of the shares, roughly 72.36 million BK shares worth $3.42 billion.
Vanguard Group, Inc. (The) holds the second largest percentage of outstanding shares, with 8.01% or 69.15 million shares worth $3.27 billion as of Mar 30, 2021.
Among Mutual Funds, the top two as of Mar 30, 2021 were Dodge & Cox Stock Fund and Vanguard Total Stock Market Index Fund. With 38.32 million shares estimated at $1.81 billion under it, the former controlled 4.44% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.58% of the shares, roughly 22.29 million shares worth around $1.05 billion.