The past few weeks have seen multiple movements on the **Bank of New York Mellon Corporation's** (NYSE:BK) stock due to diverse factors. Institutional investors are the biggest bettors on BK, reaping rewards after a **US$1.8b market cap gain** last week. However, the **Senior EVP & General Counsel sold 54%** of their shares, and several other insider sales took place including the sale of $1.9 million in stock by the SEVP. Despite this, analysts have given it an average recommendation of 'Moderate Buy', and it has been labelled a '**Top Dividend Stock**' multiple times. Positive earnings have rewarded the company with a **Q3 earnings and revenues beating estimates**, leading to an increase in stock price and **higher revenues**. It registered **strong growth** and strategic expansion, gaining approval to offer **ETF Crypto Custody Service**. Wall Street were happy with the upbeat earnings, with an increase in **assets under custody and administration topping $50 trillion**. Despite paying $5 million over swap reporting, BK remains a popular choice for investment and acquisition, indicated by **Claro Advisors LLC** buying 33,791 shares. BK has been constantly highlighted as a strong choice for investors looking for growth and dividends.
Bank of New York Mellon Corporation BK News Analytics from Fri, 12 Jan 2024 08:00:00 GMT to Sat, 19 Oct 2024 12:35:13 GMT -
Rating 5
- Innovation 2
- Information 8
- Rumor -3
