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

NEW YORK ( TheStreet) -- Bank of New York Mellon (NYSE: BK) hit a new 52-week high Monday as it traded at $47.30 compared with its previous 52-Week high of $32.65. Bank of New York Mellon is changing hands at $28.98 with 2.1 million shares traded as of 11:26 a.m. ET. Average volume has been 6.4 million shares over the past 30 days.

Bank of New York Mellon has a market cap of $35.7 billion and is part of the financial sector and financial services industry. Shares are down 4.4% year to date as of the close of trading on Friday.

The Bank of New York Mellon Corporation, a financial services company, provides various products and services for institutions and individuals worldwide. The company has a P/E ratio of 13.6, below the average financial services industry P/E ratio of 14 and below the S&P 500 P/E ratio of 15.8.
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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 revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Bank of New York Mellon Ratings Report.

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