Bank Of New York Mellon Reaches New 52-Week High (BK)

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.

NEW YORK (TheStreet) -- Bank of New York Mellon (NYSE:BK) hit a new 52-week high Wednesday as it is currently trading at $27.34, above its previous 52-week high of $27.32 with 1.9 million shares traded as of 12:50 p.m. ET. Average volume has been 6.9 million shares over the past 30 days.

Bank of New York Mellon has a market cap of $31.66 billion and is part of the financial sector and financial services industry. Shares are up 5.4% year to date as of the close of trading on Tuesday.

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. The company has a P/E ratio of 13.3, below the S&P 500 P/E ratio of 17.7.

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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, growth in earnings per share, revenue growth, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Bank of New York Mellon Ratings Report.

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