Bank Of New York Mellon Corporation (The) (BK) : Traders are bullish on Bank Of New York Mellon Corporation (The) (BK) as it has outperformed the S&P 500 by a wide margin of 2.31% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.34%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.31% in the last 1 week, and is up 2.7% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The Bank of New York Mellon Corporation has dropped 1.53% during the last 3-month period . Year-to-Date the stock performance stands at -1%. The stock has recorded a 20-day Moving Average of 1.41% and the 50-Day Moving Average is 2.31%.
Bank Of New York Mellon Corporation (The) (NYSE:BK): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $40.06 and $39.87 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $40.35. The buying momentum continued till the end and the stock did not give up its gains. It closed at $40.25, notching a gain of 0.02% for the day. The total traded volume was 3,117,002 . The stock had closed at $40.24 on the previous day.
Also, 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 raises the price target to $47 per share from a prior target of $46. The shares have been rated Buy. The rating by the firm was issued on August 5, 2016.
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.