5 Stocks Pushing The Financial Sector Higher
TheStreet Ratings group would like to highlight 5 stocks pushing the financial sector higher today, Nov. 13, 2012.Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 52 points (0.4%) at 12,867 as of Tuesday, Nov. 13, 2012, 11:54 AM ET. The NYSE advances/declines ratio sits at 1,426 issues advancing vs. 1,481 declining with 120 unchanged. The Financial sector currently sits down 0.1% versus the S&P 500, which is up 0.5%. Top gainers within the sector include Lloyds Banking Group ( LYG), up 3.0%, Banco Santander ( SAN), up 3.0%, Deutsche Bank ( DB), up 1.5%, Ameriprise Financial ( AMP), up 1.4% and T. Rowe Price Group ( TROW), up 1.4%. On the negative front, top decliners within the sector include National Bank of Greece ( NBG), down 7.3%, LPL Financial Holdings ( LPLA), down 5.0%, Annaly Capital Management ( NLY), down 5.1% and American International Group ( AIG), down 0.6%. TheStreet Ratings group would like to highlight 5 stocks pushing the sector higher today: 5. Bank of New York Mellon ( BK) is one of the companies pushing the Financial sector higher today. As of noon trading, Bank of New York Mellon is up $0.15 (0.6%) to $24.22 on light volume Thus far, 2.3 million shares of Bank of New York Mellon exchanged hands as compared to its average daily volume of 6.3 million shares. The stock has ranged in price between $23.86-$24.29 after having opened the day at $24.02 as compared to the previous trading day's close of $24.07. 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 $28.2 billion and is part of the financial services industry. The company has a P/E ratio of 12.5, below the S&P 500 P/E ratio of 17.7. Shares are up 21.1% year to date as of the close of trading on Monday. Currently there are 7 analysts that rate Bank of New York Mellon a buy, 2 analysts rate it a sell, and 9 rate it a hold. TheStreet Ratings rates Bank of New York Mellon as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, attractive valuation levels, expanding profit margins, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Bank of New York Mellon Ratings Report now.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.