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3 Stocks Pushing The Financial Services Industry Higher

By TheStreet Wire 12/13/12 - 12:06 PM EST

Find out if (SCHW) is in Cramer's Portfolio.

2. As of noon trading, Bank of New York Mellon (BK) is up $0.18 (0.7%) to $24.71 on light volume Thus far, 2.4 million shares of Bank of New York Mellon exchanged hands as compared to its average daily volume of 6.7 million shares. The stock has ranged in price between $24.49-$24.75 after having opened the day at $24.52 as compared to the previous trading day's close of $24.53.

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 $28.6 billion and is part of the financial sector. The company has a P/E ratio of 12.7, below the S&P 500 P/E ratio of 17.7. Shares are up 23.0% year to date as of the close of trading on Wednesday. Currently there are 6 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, good cash flow from operations and growth in earnings per share. 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.

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