Is Bank of New York Mellon Stock Outperforming the S&P 500?
/Bank%20Of%20New%20York%20Mellon%20Corp%20location%20sign-by%20JHVEPhoto%20via%20Shutterstock.jpg)
Bank of New York Mellon Corporation (BK), with a market capitalization of t $60.5 billion, is a leading global financial institution and the oldest bank in the United States. Headquartered in New York City, the company specializes in asset servicing, investment management, and wealth management, catering to institutions, corporations, government entities, endowments, foundations, and high-net-worth individuals worldwide.
Companies worth $10 billion or more are generally described as "large-cap stocks," BNY Mellon fits this bill perfectly. As a critical player in global financial infrastructure, BNY Mellon facilitates securities processing, custody, and risk management solutions, supporting capital markets and institutional investors across more than 35 countries.
The stock recently touched its 52-week high of $90.34 on March 3 and is currently trading 10.3% below that peak. BK shares have surged 1.7% over the past three months, surpassing the broader S&P 500 Index ($SPX), which declined 8.4% during the same period.
Looking at a broader timeframe, the stock has climbed 19% over the past six months and surged 45.8% over the past year, significantly outpacing the S&P 500’s modest annual gain of 8.9% and marginal rise over the past six months.
Despite maintaining a position above its 200-day moving average for the past year, BNY Mellon recently slipped below its 50-day moving average.
BNY Mellon shares jumped over 8% on Jan. 15 following its strong Q4 2024 earnings, with adjusted EPS of $1.72, a 33.3% year-over-year increase, beating expectations. Total revenue climbed 11.2% to $4.9 billion, driven by higher fee income, investment services fees, and growth in assets under custody/administration (AUC/A) and assets under management (AUM).
BNY Mellon also outperformed its competitor, Bank of America Corporation’s (BAC) 38.9% gains over the past six months and 10.4% returns over the past year.
Moreover, among the 17 analysts covering the BK stock, the consensus rating is a “Moderate Buy.” The mean price target of $93.75 represents a modest 15.7% premium to current price levels.
On the date of publication, Kritika Sarmah did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.