Bank Of New York Mellon (BK): Today's Featured Financial Services Loser
(
) pushed the Financial Services industry lower today making it today's featured Financial Services loser. The industry as a whole closed the day down 1.1%. By the end of trading, Bank of New York Mellon fell 40 cents (-2.2%) to $18.02 on average volume. Throughout the day, 10.3 million shares of Bank of New York Mellon exchanged hands as compared to its average daily volume of 13.4 million shares. The stock ranged in price between $18-$18.48 after having opened the day at $18.38 as compared to the previous trading day's close of $18.42. Other company's within the Financial Services industry that declined today were:
(
), down 33.3%,
(
), down 10.9%,
(
), down 10.6%, and
Ampal-American Israel Corporation
(
), down 9%.
The Bank of New York Mellon Corporation, a financial services company, provides various products and services worldwide. The company's Asset Management segment 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 $22.94 billion and is part of the
sector. The company has a P/E ratio of 8.6, below the average financial services industry P/E ratio of 8.7 and below the S&P 500 P/E ratio of 17.7. Shares are down 39% year to date as of the close of trading on Monday.
TheStreet Ratings rates Bank of New York Mellon as a
. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity, weak operating cash flow and a generally disappointing performance in the stock itself.
- You can view the full Bank of New York Mellon Ratings Report.
On the positive front,
(
), up 7.2%,
(
), up 5.4%,
Asset Acceptance Capital Corporation
(
), up 4.9%, and
(
), up 3.1%, were all gainers within the financial services industry with
(
) being today's featured financial services industry winner.
- Use our financial services section to find industry-relevant news.
- Or find some new ideas from our top rated stocks lists.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the financial services industry could consider
(
) while those bearish on the financial services industry could consider
(
).
- Find other investment ideas from our top rated ETFs lists.
null
