Shares of Bank Of New York Mellon Corporation (The) (BK) Sees Large Outflow of Money

Bank Of New York Mellon Corporation (The) (BK) : The total money flow in Bank Of New York Mellon Corporation (The) (BK) was negative ($23.77 million), which signals selling by the traders on Tuesdays session. They trimmed their holdings by selling the stock on downticks to the tune of $36.39 million. In comparison, the inflow of money into the stock on upticks was $12.62 million. The uptick to downtick ratio was 0.35. Similarly, the block trades show selling by large traders on strength. The value of stocks sold down on downtick was $24.19 million. The negative money flow of ($24.19 million) confirms the selling in Bank Of New York Mellon Corporation (The) (BK) on strength. Bank Of New York Mellon Corporation (The) (BK) gained $0.45 at $41.71, a gain of 1.09% over the previous days close. However, the stock registered 2.11% in the week.

Bank

Also, In a research note released to the investors, Deutsche Bank maintains its rating on Bank Of New York Mellon Corporation (The) (NYSE:BK).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, Deutsche Bank raises the new price target from $46 per share to $47 per share. The rating by the firm was issued on August 5, 2016.

Shares of The Bank of New York Mellon Corporation rose by 3.63% in the last five trading days and 6.4% for the last 4 weeks. The Bank of New York Mellon Corporation has dropped 0.8% during the last 3-month period . Year-to-Date the stock performance stands at 2.59%.

Bank Of New York Mellon Corporation (The) (NYSE:BK): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $41.15 and $41.15 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $41.72. The buying momentum continued till the end and the stock did not give up its gains. It closed at $41.71, notching a gain of 1.09% for the day. The total traded volume was 3,259,779 . The stock had closed at $41.26 on the previous day.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director officer (Chairman & CEO) of Bank Of New York Mellon Corp, Hassell Gerald L had sold 24,598 shares worth of $1,002,614 in a transaction dated May 19, 2016. In this transaction, 24,598 shares were sold at $40.76 per share.

The Bank of New York Mellon Corporation is a provider of financial products and services in domestic and international markets. Through its two principal businesses, Investment Management and Investment Services, it serves institutions, corporations and high net worth individuals. For institutions and corporations, it provides investment management, trust and custody, foreign exchange, fund administration, global collateral services, securities lending, depositary receipts, corporate trust, global payment/cash management, banking services and clearing services. For individuals, it provides mutual funds, separate accounts, wealth management and private banking services. BNY Mellons investment management businesses provide investment products in different asset classes and investment styles. The Company has $28.5 trillion in assets under custody and/or administration and $1.7 trillion in assets under management as of December 31, 2014.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.