Is Bank of New York Mellon (BK) Outperforming Other Financial Stocks This Year?

For those looking for strong financial stocks, it’s wise to look for companies in the group that are outperforming their peers. Is The Bank of New York Mellon Corporation (BK) one of these stocks right now? If we look at the stock’s year-to-date performance against its financial peers, we might be able to answer that question.

Bank of New York Mellon Corporation is a member of the financial sector. This group contains 871 individual stocks and currently holds a Zacks sector rank of #9. The Zacks Sector Rank comprises 16 different groups and is listed in order of best to worst in terms of each company’s average Zacks Rank within each of those sectors.

The Zacks Rank is a proven system that highlights earnings estimates and estimate revisions, highlighting a variety of stocks that exhibit the right characteristics to outperform the market over the next one to three months. Bank of New York Mellon Corporation currently has a Zacks rank of #2 (Buy).

Over the last quarter, the Zacks Consensus estimate for BK’s full-year earnings is up 2.8%. This is a sign of improving analyst sentiment and a positive trend in earnings prospects.

Our latest available data shows that BK has returned about 7.7% year-to-date. In comparison, financial companies have produced an average return of -8.3%. As we can see, Bank of New York Mellon Corporation is outperforming its sector for the calendar year.

Another financial stock that has outperformed the sector so far this year is Robinhood Markets, Inc. (HOOD). The stock has returned 14.5% year-to-date.

In the case of Robinhood Markets, Inc., the consensus year-to-date EPS estimate rose 54.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

More specifically, The Bank of New York Mellon Corporation is a member of the Banks – Major Regional Industry, which comprises 15 individual companies and is currently ranked 94th in the Zacks Industry Rank. This group has lost an average of 11.1% so far this year, giving BK a better performance in this area.

However, Robinhood Markets, Inc. belongs to the financial and investment banking industry. Currently, this industry is ranked 33rd with 16 stocks. The industry has moved -3.1% so far this year.

Bank of New York Mellon Corporation and Robinhood Markets, Inc. could continue their solid performance, so investors interested in financial stocks should continue to watch these stocks closely.

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