Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bank Of New York Mellon Corp shares valued at $961,620 were sold by Smits Hanneke on Jul 18 ’24. At $64.11 per share, Smits Hanneke sold 15,000 shares. The insider’s holdings dropped to 173,930 shares worth approximately $12.32 million following the completion of this transaction.
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Also, Santhanakrishnan Senthilkumar sold 15,643 shares, netting a total of over 901,772 in proceeds. Following the sale of shares at $57.65 each, the insider now holds 144,721 shares.
Before that, Kurimsky Kurtis R. had sold 6,215 shares from its account. In a trade valued at $360,043, the Corporate Controller traded Bank Of New York Mellon Corp shares for $57.93 each. Upon closing the transaction, the insider’s holdings decreased to 6,215 shares, worth approximately $1.72 million.
As published in a research note from Deutsche Bank on September 23, 2024, Bank Of New York Mellon Corp [BK] has been rated up from a Hold to a Buy and the price target has been revised to $80 from $66. Analysts at Citigroup downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of June 27, 2024, Keefe Bruyette has increased its “Mkt perform” rating to a “an Outperform” for BK. Earlier on January 30, 2024, Morgan Stanley upgraded its rating. Their new recommendation was “an Equal-weight” for BK stock which previously was a “an Underweight”.
Analyzing BK Stock Performance
During the last five days, there has been a drop of approximately -0.95%. Over the course of the year, Bank Of New York Mellon Corp shares have jumped approximately 36.06%. Shares of the company reached a 52-week high of $73.19 on 09/23/24 and a 52-week low of $51.79 on 01/03/24. A 50-day SMA is recorded $67.26, while a 200-day SMA reached $59.46. Nevertheless, trading volume fell to 3.07 million shares from 5.25 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 70.48, which, if violated, would cause prices to drop to 70.15. In the upper region, resistance lies at 71.08. The next price resistance is at 71.35. RSI (Relative Strength Index) is 59.49 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.47, which suggests the price will decrease in the coming days. Percent R is at 56.56%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
