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Bank Of New York Mellon (BK) Leading In Pre-Market Activity

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Bank of New York Mellon ( BK) as a pre-market leader candidate. In addition to specific proprietary factors, Trade-Ideas identified Bank of New York Mellon as such a stock due to the following factors:

  • BK has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $222.6 million.
  • BK traded 25,251 shares today in the pre-market hours as of 8:45 AM.
  • BK is up 2.1% today from yesterday's close.

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More details on BK:

The Bank of New York Mellon Corporation provides various financial products and services in the United States and internationally. Its Investment Management segment provides institutional, intermediary, retirement and retail investment management, distribution, and related services. The stock currently has a dividend yield of 1.9%. BK has a PE ratio of 14.3. Currently there are 4 analysts that rate Bank of New York Mellon a buy, 2 analysts rate it a sell, and 8 rate it a hold.

The average volume for Bank of New York Mellon has been 4.8 million shares per day over the past 30 days. Bank of New York Mellon has a market cap of $41.3 billion and is part of the financial sector and financial services industry. The stock has a beta of 1.69 and a short float of 1.2% with 2.29 days to cover. Shares are up 2.6% year-to-date as of the close of trading on Thursday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Bank of New York Mellon as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, compelling growth in net income and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

Highlights from the ratings report include:

  • BK's revenue growth has slightly outpaced the industry average of 5.2%. Since the same quarter one year prior, revenues slightly increased by 0.6%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • The strong earnings growth this company has enjoyed -- up -- has apparently played a role in driving up its share price by a solid 26.57%. In addition, the rise in the general market has likely contributed to this stock's strong performance during this past year.Turning to the future, naturally, any stock can fall in a major bear market. However, in almost any other environment, the stock should continue to move higher despite the fact that it has already enjoyed nice gains in the past year.
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Capital Markets industry. The net income increased by 366.4% when compared to the same quarter one year prior, rising from -$253.00 million to $674.00 million.
  • Net operating cash flow has significantly increased by 61.55% to -$1,055.00 million when compared to the same quarter last year. The firm also exceeded the industry average cash flow growth rate of 14.98%.

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