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 $1,907,872 were sold by McCarthy J Kevin on Oct 15 ’24. At $76.31 per share, McCarthy J Kevin sold 25,000 shares. The insider’s holdings dropped to 75,404 shares worth approximately $6.05 million following the completion of this transaction.
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Also, Smits Hanneke sold 16,475 shares, netting a total of over 1,259,869 in proceeds. Following the sale of shares at $76.47 each, the insider now holds 157,455 shares.
Before that, McCarthy J Kevin had added 25,000 shares to its account. In a trade valued at $1,912,750, the Officer bought Bank Of New York Mellon Corp shares for $76.51 each.
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 -1.33%. Over the course of the year, Bank Of New York Mellon Corp shares have jumped approximately 54.06%. Shares of the company reached a 52-week high of $82.72 on 11/29/24 and a 52-week low of $51.79 on 01/03/24. A 50-day SMA is recorded $76.40, while a 200-day SMA reached $64.46. Nevertheless, trading volume fell to 2.72 million shares from 0.22 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 79.73, which, if violated, would cause prices to drop to 79.26. In the upper region, resistance lies at 80.82. The next price resistance is at 81.45. RSI (Relative Strength Index) is 59.75 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.91, which suggests the price will decrease in the coming days. Percent R is at 45.26%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
