BNY Mellon (BK, $38.41) beats Q3 earnings estimates
BNY Mellon reported its third quarter earnings that exceeded the Street expectations.
The banking behemoth’s adjusted earnings came in at $1.21 a share , topping analysts’ expectations of $1.10 a share. Revenue climbed + 6% from the year-ago quarter to $4.28 billion, vs. analysts’ expectations of a 4.2% growth (as reported in Sharecast.com) .
Net interest revenues were up +44%.
BNY chief executive officer Robin Vince mentioned higher interest rates and continued strength in client volumes and balances across its Securities Services and Market and Wealth Services segments as factors boosting the quarter’s performance. However, assets under management as of the quarter-end were down -23%, mainly owing to market impact.
BK's RSI Oscillator ascending out of oversold territory
The RSI Indicator for BK moved out of oversold territory on April 17, 2024. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 40 similar instances when the indicator left oversold territory. In of the 40 cases the stock moved higher. This puts the odds of a move higher at .
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on April 22, 2024. You may want to consider a long position or call options on BK as a result. In of 89 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 April 23, 2024. Looking at past instances where BK's MACD turned positive, the stock continued to rise in of 43 cases over the following month. The odds of a continued upward trend are .
BK moved above its 50-day moving average on April 19, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BK advanced for three days, in of 332 cases, the price rose further within the following month. The odds of a continued upward trend are .
BK may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Aroon Indicator entered an Uptrend today. In of 318 cases where BK Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The 10-day moving average for BK crossed bearishly below the 50-day moving average on April 18, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 19 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
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 .
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 Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding 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 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 (1.174) is normal, around the industry mean (2.968). P/E Ratio (14.718) is within average values for comparable stocks, (26.370). Projected Growth (PEG Ratio) (0.603) is also within normal values, averaging (3.110). Dividend Yield (0.029) settles around the average of (0.072) among similar stocks. P/S Ratio (2.595) is also within normal values, averaging (17.574).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 77, placing this stock slightly better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent 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.
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a major bank
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