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 Bank of New York Mellon (
BK) pushed the Financial Services industry higher today making it today's featured financial services winner. The industry as a whole closed the day up 0.1%. By the end of trading, Bank of New York Mellon rose $0.53 (1.9%) to $28.82 on average volume. Throughout the day, 6,551,270 shares of Bank of New York Mellon exchanged hands as compared to its average daily volume of 5,386,500 shares. The stock ranged in a price between $28.15-$28.97 after having opened the day at $28.22 as compared to the previous trading day's close of $28.29. Other companies within the Financial Services industry that increased today were:
Noah Holdings (
NOAH), up 19.1%,
Nomura Holdings (
NMR), up 9.0%,
Sabine Royalty (
SBR), up 5.5% and
Security National Financial Corporation (
SNFCA), up 4.3%.
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The Bank of New York Mellon Corporation provides various financial products and services worldwide. It operates through Investment Management, Investment Services, and Other segments. Bank of New York Mellon has a market cap of $32.7 billion and is part of the financial sector. The company has a P/E ratio of 22.0, above the S&P 500 P/E ratio of 17.7. Shares are up 9.6% year to date as of the close of trading on Friday. Currently there are 4 analysts that rate Bank of New York Mellon a buy, 2 analysts rate it a sell, and 11 rate it a hold.
TheStreet Ratings rates Bank of New York Mellon as a
buy. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.
On the negative front,
Millennium India Acquisition Corporation (
SMCG), down 14.3%,
Gleacher (
GLCH), down 7.1%,
Calamos Asset Management (
CLMS), down 4.5% and
Ladenburg Thalman Financial Services (
LTS), down 4.2% , were all laggards within the financial services industry with
Morgan Stanley (
MS) being today's financial services industry laggard.
For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the financial services industry could consider
Financial Select Sector SPDR (
XLF) while those bearish on the financial services industry could consider
Proshares Short Financials (
SEF).
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