Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Bank Of New York Mellon Corp shares valued at $2,245,868 were sold by McCarthy J Kevin on Apr 19 ’24. At $56.15 per share, McCarthy J Kevin sold 40,000 shares. The insider’s holdings dropped to 100,404 shares worth approximately $5.74 million following the completion of this transaction.
Also, Keating Catherine sold 54,070 shares, netting a total of over 2,967,362 in proceeds. Following the sale of shares at $54.88 each, the insider now holds 78,350 shares.
Before that, Keating Catherine had sold 4,498 shares from its account. In a trade valued at $246,530, the Sr. Exec. Vice President traded Bank Of New York Mellon Corp shares for $54.81 each. Upon closing the transaction, the insider’s holdings decreased to 4,498 shares, worth approximately $7.06 million.
As published in a research note from Morgan Stanley on January 30, 2024, Bank Of New York Mellon Corp [BK] has been rated up from an Underweight to an Equal-weight and the price target has been revised to $62 from $52. Analysts at JP Morgan upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in mid December. Earlier on January 04, 2023, Wolfe Research upgraded its rating. Their new recommendation was “an Outperform” for BK stock which previously was a “a Peer perform”.
Analyzing BK Stock Performance
During the last five days, there has been a surge of approximately 3.49%. Over the course of the year, Bank Of New York Mellon Corp shares have jumped approximately 9.86%. Shares of the company reached a 52-week high of $58.28 on 04/04/24 and a 52-week low of $51.79 on 01/03/24. A 50-day SMA is recorded $55.91, while a 200-day SMA reached $49.35. Nevertheless, trading volume fell to 3.25 million shares from 3.23 million shares the previous day.
Support And Resistance Levels for Bank Of New York Mellon Corp (BK)
According to the 24-hour chart, there is a support level at 56.73, which, if violated, would cause prices to drop to 56.27. In the upper region, resistance lies at 57.66. The next price resistance is at 58.14. RSI (Relative Strength Index) is 56.69 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.44, which suggests the price will increase in the coming days. Percent R is at 15.46%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
