Bank Of New York Mellon Corp (NYSE:BK) shares, rose in value on Friday, October 11, with the stock price up by 1.83% to the previous day’s close as strong demand from buyers drove the stock to $75.81.
Actively observing the price movement in the recent trading, the stock is buoying the session at $74.45, falling within a range of $74.29 and $76.15. The value of beta (5-year monthly) is 1.069 whereas the PE ratio is 17.53 over 12-month period. Referring to stock’s 52-week performance, its high was $74.47, and the low was $39.66. On the whole, BK has fluctuated by 9.84% over the past month.
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With the market capitalization of Bank Of New York Mellon Corp currently standing at about $55.94 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Oct-11. The company’s Forward Dividend Ratio is 1.73, with its dividend yield at 2.28%.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 18.23B, with a low estimate of 4.4B and a high estimate of 4.61B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 4.54B.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that BK’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium-term indicators have put the stock in the category of 100% 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 1.35, with the price of BK currently trading nearly 5.15% and 11.00% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 79.82, while the 7-day volatility ratio is showing 1.17% which for the 30-day chart, stands at 1.36%. Furthermore, Bank Of New York Mellon Corp (BK)’s beta value is 1.07, and its average true range (ATR) is 1.10.
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 1.83% in today’s session so far, and over the past year, it grew by 79.86%%.
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 3.94 and over the past 3 months, they’ve averaged 4.15 million. According to company’s latest data on outstanding shares, there are 759.34 million shares outstanding.
Nearly 0.28% of Bank Of New York Mellon Corp’s shares belong to company insiders and institutional investors own 86.67% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 8.73 million shares as on 2024-09-30, resulting in a short ratio of 2.12. According to the data, the short interest in Bank Of New York Mellon Corp (BK) stood at 118.00 of shares outstanding as of 2024-09-30; the number of short shares registered in 2024-08-30 reached 11.48 million. The stock has risen by 45.65% 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.
