4. Bank of New York Mellon
Shares of Bank of New York Mellon (BK) closed at $21.95 Friday, returning 12% year-to-date, following a 33% decline during 2011.
Based on a quarterly payout of 13 cents, the shares have a dividend yield of 2.37%.
The shares trade for 2.2 times tangible book value, and for 8.9 times the consensus 2013 EPS estimate of $2.47. The consensus 2012 EPS estimate is $2.21.The company plans to repurchase up to $1.16 billion in common shares this year, and reported buying back "17.3 million common shares in the open market at an average price of $21.53 per share for a total of $371 million," during the first quarter. Analysts expect Bank of New York Mellon to report second-quarter earnings of 54 cents a share, improving from 52 cents the previous quarter, but declining from 59 cents a year earlier. KBW analyst Robert Lee rates Bank of New York Mellon "Market Perform," with a $26 price target, saying on Wednesday that "to some extent BK may be the most levered of the