Bank Of New York Mellon Corporation (The) (NYSE:BK) has tumbled 2.86% during the past week and has dropped 2.46% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 1.7%. Bank Of New York Mellon Corporation (The) (NYSE:BK) has underperformed the index by 3.35% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
Bank Of New York Mellon Corporation (The) (NYSE:BK): The stock opened at $40.24 on Friday but the bulls could not build on the opening and the stock topped out at $40.44 for the day. The stock traded down to $39.88 during the day, due to lack of any buying support eventually closed down at $40.06 with a loss of -0.25% for the day. The stock had closed at $40.16 on the previous day. The total traded volume was 5,470,511 shares.
The company shares have dropped -7.10% from its 1 Year high price. On Aug 10, 2015, the shares registered one year high at $45.45 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $40.81 and the 200 Day Moving Average price is recorded at $38.66.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Hassell Gerald L, director officer (Chairman & CEO) of Bank Of New York Mellon Corp, had unloaded 24,598 shares at an average price of $40.76 in a transaction dated on May 19, 2016. The total value of the transaction was worth $1,002,614.
Many analysts have stated their opinion on the company shares. Brokerage firm Deutsche Bank maintains its rating on Bank Of New York Mellon Corporation (The) (NYSE:BK). As per the latest information, the brokerage house lowers the price target to $48 per share from a prior target of $50. The shares have been rated Buy. The rating by the firm was issued on June 16, 2016. Currently the company Insiders own 3.4% of Bank Of New York Mellon Corporation (The) shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -19.35% . Institutional Investors own 83.2% of Bank Of New York Mellon Corporation (The) shares. During last six month period, the net percent change held by insiders has seen a change of -19.35%.
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.