Selling Buzz: The Bank of New York Mellon Corporation [BK] Chief Executive Officer GIBBONS THOMAS P sells 134,000 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. The Bank of New York Mellon Corporation shares valued at $5,794,240 were sold by GIBBONS THOMAS P on Aug 08. At $43.24 per share, GIBBONS THOMAS P sold 134,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, GIBBONS THOMAS P sold 105,062 shares, netting a total of over 4,542,944 in proceeds. Following the sale of shares at $43.24 each, the insider now holds 221,018 shares.

Before that, Engle Bridget E. had sold 44,135 shares from its account. In a trade valued at $1,889,772, the Sr. Exec. Vice President traded The Bank of New York Mellon Corporation shares for $42.82 each. Upon closing the transaction, the insider’s holdings decreased to 44,135 shares, worth approximately $4.57 million.

As published in a research note from Deutsche Bank on May 19, 2022, The Bank of New York Mellon Corporation [BK] has been rated down from a Buy to a Hold and the price target has been revised to $45 from $54. This represents a 0.42% premium over Wednesday’s closing price. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in late April. As of April 11, 2022, Citigroup has decreased its “Buy” rating to a “Neutral” for BK. Earlier on March 31, 2022, Wolfe Research downgraded its rating. Their new recommendation was “a Peer perform” for BK stock which previously was a “an Outperform”.

Analyzing BK’s Price Performance

On Wednesday, The Bank of New York Mellon Corporation [NYSE: BK] plunged -0.49% to $44.81. The stock’s lowest price that day was $44.29, but it reached a high of $45.11 in the same session. During the last five days, there has been a surge of approximately 1.86%. Over the course of the year, The Bank of New York Mellon Corporation shares have dropped approximately -22.85%. Shares of the company reached a 52-week high of $64.63 on 02/10/22 and a 52-week low of $39.78 on 07/14/22. A 50-day SMA is recorded $42.89, while a 200-day SMA reached $50.96. Nevertheless, trading volume fell to 2.32 million shares from 3.1 million shares the previous day.

Support And Resistance Levels for The Bank of New York Mellon Corporation (BK)

According to the 24-hour chart, there is a support level at 44.36, which, if violated, would cause prices to drop to 43.92. In the upper region, resistance lies at 45.18. The next price resistance is at 45.56. RSI (Relative Strength Index) is 59.63 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.99, which suggests the price will decrease in the coming days. Percent R is at 22.16%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is The Bank of New York Mellon Corporation subject to short interest?

Stocks of The Bank of New York Mellon Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by 40000.0 shares to 7.25 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 7.29 million shares. A decline of -0.55% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.6 of the overall float, the days-to-cover ratio (short ratio) decline to 1.6.

Which companies own the most shares of The Bank of New York Mellon Corporation (BK)?

According to Berkshire Hathaway, Inc. filings, the company currently owns 72,357,453 shares, which is about 8.95% of the total BK shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 72357453.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $2,751,302,359. Dodge & Cox acquire a 1.53% interest valued at $2.55 billion while BlackRock Fund Advisors purchased a 5,261,845 stake. A total of -1,194,919 shares of The Bank of New York Mellon Corporation were bought by SSgA Funds Management, Inc. during the quarter, and 3,087,942 were bought by Artisan Partners LP. In its current portfolio, First Eagle Investment Management holds 16,510,065 shares valued at $717.53 million.

In terms of The Bank of New York Mellon Corporation share price expectations, FactSet research, analysts set an average price target of $48.57 in the next 12 months, up nearly 3.26% from the previous closing price of $45.03. Analysts anticipate The Bank of New York Mellon Corporation stock to reach $61.00 by 2022, with the lowest price target being $45.00. In spite of this, 18 analysts ranked The Bank of New York Mellon Corporation stock as an Overweight at the end of 2022. On March 30, 2022, Goldman assigned a price target of “a Neutral” to the stock and downgraded coverage with a $60.


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