Bank of New York Mellon (BK, $43.40) beat Q2 earnings expectations
Bank of New York Mellon Corp. posted its second quarter adjusted earnings of $1.15 per share , surpassing the $1.12 per share analysts polled by Thomson Reuters expected. The bottom line climbed +1.8% from the year-ago quarter.
The bank’s net income applicable to common shareholders (GAAP basis) came in at $835 million or $1.03 per share, down from $991 million or $1.13 per share in the year-ago quarter.
Total revenues rose +7.4% from the yar-ago quarter to $4.25 billion, vs. $4.17 billion expected by analysts polled by Thomson Reuters.
The results were bolstered by a rise in net interest revenues and fee revenues. However, asset balances experienced decrease, while higher expenses was a dampener to some extent.
Bank of New York Mellon mentioned that its Board of Directors approved an increase of the quarterly cash dividend on its common shares by +9% to $0.37 per share.
BK in upward trend: price rose above 50-day moving average on June 02, 2023
BK moved above its 50-day moving average on June 02, 2023 date and that indicates a change from a downward trend to an upward trend. In of 47 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are .
Technical Analysis (Indicators)
Bullish Trend Analysis
The RSI Indicator points to a transition from a downward trend to an upward trend -- in cases where BK's RSI Oscillator exited the oversold zone, of 40 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. of 56 cases where BK's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on May 31, 2023. You may want to consider a long position or call options on BK as a result. In of 91 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for BK just turned positive on May 18, 2023. Looking at past instances where BK's MACD turned positive, the stock continued to rise in of 41 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BK advanced for three days, in of 317 cases, the price rose further within the following month. The odds of a continued upward trend are .
Bearish Trend Analysis
The 50-day moving average for BK moved below the 200-day moving average on May 15, 2023. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BK declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
BK broke above its upper Bollinger Band on June 02, 2023. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for BK entered a downward trend on May 25, 2023. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Fundamental Analysis (Ratings)
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.942) is normal, around the industry mean (2.317). P/E Ratio (13.532) is within average values for comparable stocks, (74.271). Projected Growth (PEG Ratio) (0.533) is also within normal values, averaging (4.354). Dividend Yield (0.035) settles around the average of (0.073) among similar stocks. P/S Ratio (2.114) is also within normal values, averaging (44.238).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. BK’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BK’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock worse than average.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
General Information
a major bank
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BK and
Correlation & Price change
A.I.dvisor indicates that over the last year, BK has been closely correlated with STT. These tickers have moved in lockstep 89% of the time. This A.I.-generated data suggests there is a high statistical probability that if BK jumps, then STT could also see price increases.
