There has been significant activity regarding the Bank of New York Mellon Co. (NYSE:BK) including share acquisitions by several firms such as Cibc World Market Inc., Crews Bank & Trust, BOCHK Asset Management Ltd, and Swedbank AB. StockNews.com upgraded the stock to a Buy rating, contributing to its rise to a new 52-week high.
In Q4 2024, the bank reported record net income, beating earnings and revenue estimates. This has led numerous financial analysts to tout BK as a great long-term investment. The bank's fee income rise is also noted, despite a possible hit from weak NII.
BK is being deemed a successful dividend stock. Notably, the bank is heavily dominated by institutional ownership, possessing 88% of shares. Claims of potential weakness possibly linked to insiders selling US$13m in stock have also been reported. Lastly, the bank confirmed leadership announcements, extension of the dividend, and significant earnings per share (EPS) growth in strategic forecasts.
Bank of New York Mellon Corporation BK News Analytics from Fri, 12 Jul 2024 07:00:00 GMT to Sat, 01 Feb 2025 10:25:55 GMT - Rating 7 - Innovation 5 - Information 8 - Rumor 3
