NEW YORK ( TheStreet) -- The ex-dividend date for Bank of New York Mellon (NYSE: BK) is tomorrow, October 27, 2011. Owners of shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $21.17 as of 9:30 a.m. ET, the dividend yield is 2.4%.

The average volume for Bank of New York Mellon has been 15.4 million shares per day over the past 30 days. Bank of New York Mellon has a market cap of $26.2 billion and is part of the financial sector and financial services industry. Shares are down 31.3% 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's Asset Management segment 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 9.8, equal to the average financial services industry P/E ratio and 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 hold. 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 and a generally disappointing performance in the stock itself. You can view the full Bank of New York Mellon Ratings Report.

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