The Bank of New York Mellon Corporation (BK) continues to gain favor with institutional investors, controlling 88% of shares. Several announcements about BK's movement of shares have been made, including Fulton Bank N.A. reducing their stake, and First Hawaiian Bank selling over 7,000 shares. BK has experienced a significant surge, up 49% in 2024 and an increase of 81% over the last five years. Brokerages have given BK an average rating of 'Moderate Buy', with Barclays forecasting strong price appreciation. Its Q3 earnings topped estimates, primarily driven by strong revenue growth. However, insiders have reportedly sold US$10m of stock, potentially signalling caution. Despite this, BK stock remains a recommended investment by various financial institutions, such as Zacks Research. BK's quarterly results surpassed Wall Street's estimates due to higher services fees but was fined $5m for supervision failures and swap reporting by the CFTC. BK exhibited a robust gain of 2.74% in one week with an additional surge following its 'cautiously optimistic' forecast. However, it has been marked as 'too expensive for a buy'. BK saw a 22% increase in EPS for Q3 and announced the completion of Archer Holdco acquisition. BK is expected to expand its alternative offerings with the roll-out of Alts Bridge.
Bank of New York Mellon Corporation BK News Analytics from Wed, 27 Mar 2024 07:00:00 GMT to Fri, 10 Jan 2025 17:24:00 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor -2
