Bank Of New York Mellon (BK): Today's Featured Financial Winner
Bank of New York Mellon (BK) pushed the Financial sector higher today making it today's featured financial winner. The sector as a whole closed the day up 1%. By the end of trading, Bank of New York Mellon rose 30 cents (1.5%) to $20.90 on average volume. Throughout the day, 6.5 million shares of Bank of New York Mellon exchanged hands as compared to its average daily volume of 8.1 million shares. The stock ranged in a price between $20.53-$21.02 after having opened the day at $20.61 as compared to the previous trading day's close of $20.59. Other companies within the Financial sector that increased today were: National Bank of Greece (NBG), up 29.9%, Siebert Financial Corporation (SIEB), up 13.9%, Ameriana Bancorp (ASBI), up 12.1%, and Green Bankshares (GRNB), up 11.8%. The Bank of New York Mellon Corporation, a financial services company, provides various products and services worldwide. The company offers a range of equity, fixed income, cash, and alternative/overlay products, as well as distributes investment management products. Bank of New York Mellon has a market cap of $24.67 billion and is part of the financial services industry. The company has a P/E ratio of 10.1, equal to the average financial services industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 1.4% year to date as of the close of trading on Wednesday. Currently there are seven analysts that rate Bank of New York Mellon a buy, two analysts rate it a sell, and nine rate it a hold. TheStreet Ratings rates Bank of New York Mellon as a hold. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, attractive valuation levels and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself.
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