Bank Of New York Mellon Reaches New 52-Week High (BK)
Bank of New York Mellon (NYSE:BK) hit a new 52-week high Friday as it is currently trading at $26.96, above its previous 52-week high of $26.89 with 3.6 million shares traded as of 11:40 a.m. ET. Average volume has been 6.8 million shares over the past 30 days.
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 Friday as it is currently trading at $26.96, above its previous 52-week high of $26.89 with 3.6 million shares traded as of 11:40 a.m. ET. Average volume has been 6.8 million shares over the past 30 days. Bank of New York Mellon has a market cap of $31.41 billion and is part of the financial sector and financial services industry. Shares are up 4.6% year to date as of the close of trading on Thursday. 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 13.9, 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, attractive valuation levels, expanding profit margins, good cash flow from operations and growth in earnings per share. 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. See all 52-week high stocks or get investment ideas from our investment research center. Holiday Special: Subscribe to Action Alerts PLUS to see how Jim Cramer trades his $2.5 Million+ portfolio for 51% off the list price. Your first 14-days are FREE: Sign up today to get e-mail alerts before every trade.