BK Stock Summary and Trading Ideas (Bank Of New York Mellon | NYSE:BK)

BNY Mellon is a global investment company involved in managing and servicing financial assets throughout the investment lifecycle. The bank provides financial services for institutions, corporations, and individual investors and delivers investment management and investment services in 35 countries and more than 100 markets. BNY Mellon is the largest global custody bank in the world, with $52.1 trillion in under custody or administration (as of September 2024), and can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute, or restructure investments. BNY Mellon's asset-management division manages about $2.1 trillion in assets.

Bank Of New York Mellon trades on the NYSE stock market under the symbol BK.

As of December 27, 2024, BK stock price climbed to $77.57 with 1,887,262 million shares trading.

BK has a beta of 0.64, meaning it tends to be less sensitive to market movements. BK has a correlation of 0.16 to the broad based SPY ETF.

BK has a market cap of $56.40 billion. This is considered a Large Cap stock.

Last quarter Bank Of New York Mellon reported $5 billion in Revenue and $1.52 earnings per share. This beat revenue expectation by $108 million and exceeded earnings estimates by $.10.

In the last 3 years, BK traded as high as $82.72 and as low as $36.22.

The top ETF exchange traded funds that BK belongs to (by Net Assets): VTI, VOO, SPY, IVV, VTV.

BK has outperformed the market in the last year with a price return of +67.5% while the SPY ETF gained +26.4%. BK has also outperformed the stock market ETF in the last 3 month and 2 week periods returning +19.8% and +8.4%, respectively, while the SPY returned +4.5% and -1.2%, respectively.

BK support price is $69.68 and resistance is $71.32 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BK shares will trade within this expected range on the day.