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Trust Banks: Financial Winners

Jefferies rates Bank of New York Mellon a "Hold," with a $25 price target, with Usdin estimating the firm will earn $2.02 a share for all of 2012, followed by earnings of $2.35 a share in 2013 and EPS of $2.65 in 2014. BNY has now returned 29% year-to-date, following a 33% decline in 2011. The shares trade for 2.2 times tangible book value, and for 10.5 times the consensus 2013 EPS estimate of $2.39. Based on a quarterly payout of 13 cents, the shares have a dividend yield of 2.07%.

Interested in more on Bank of New York Mellon? See TheStreet Ratings' report card for this stock.

Usdin also has a "Hold" rating on Northern Trust, with a $48 price target. The analyst estimates that the company's operating earnings for all of 2012 will total $2.92 a share, increasing to $3.40 in 2013 and $3.60 in 2014. Northern Trust's shares have now returned 25% year-to-date, following a 27% decline last year. The shares trade for 1.7 times tangible book value, and for 15 times the consensus 2013 EPS estimate of $3.34. Based on a quarterly payout of 30 cents, the shares have a dividend yield of 2.47%.

Interested in more on Northern Trust? See TheStreet Ratings' report card for this stock.

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-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.
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