Is The Bank of New York Mellon’s (BK) outperforming other finance stocks this year?
It is a smart move to seek out companies within the Finance group that have outperformed their peers if you’re looking for strong Finance stocks. Is The Bank of New York Mellon Corporation, (BK), one of those stocks? This question might be answered if we compare the stock’s year to date performance with its Finance peers.
The Finance sector includes the Bank of New York Mellon Corporation. This group contains 871 stocks and has a Zacks Sector Ranking of #9. The Zacks Sector Rank is a collection of 16 groups. It lists the Zacks Rank in order of their average Zacks Rank for each sector.
The Zacks Rank system is a proven system that highlights earnings estimates and revisions. It highlights stocks that show the right characteristics to beat market prices over the next one-to three months. Current Zacks Rank #2 (Buy) is the Bank of New York Mellon Corporation
The Zacks Consensus Estimate of BK’s full year earnings for the last quarter has moved 2.8% higher. This is an indication of positive earnings outlook and improving analyst sentiment.
According to our latest data, BK has returned 7.7% over the past year. Compare this to the average return of Finance companies which is -8.3%. We can see that The Bank of New York Mellon Corporation performs better than its sector during the calendar year.
Robinhood Markets, Inc., another Finance stock, has outperformed this sector so far in the year. The stock has returned 14.5% over the past year.
Robinhood Markets, Inc. has seen its consensus EPS estimate increase by 54.3% over three months. The stock currently has a Zacks Rank of #2 (Buy).
The Bank of New York Mellon Corporation, which is a member of 15 companies in the Banks – Major Regional industry, currently ranks at #94 on the Zacks Industries Rank. This group has seen an average loss of 11.1% this year. BK is doing better in this sector.
Robinhood Markets, Inc., however, is part of Financial – Investment Bank. This 16-stock sector is currently ranked #33. The industry has experienced a -3.1% increase in sales so far this fiscal year.
Robinhood Markets, Inc., and The Bank of New York Mellon Corporation may continue their solid performance, so Finance investors should continue paying close attention to these stocks.
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The Bank of New York Mellon Corporation (BK) : Free Stock Analysis Report
Robinhood Markets, Inc. (HOOD) : Free Stock Analysis Report