Yahoo Finance Is The Bank of New York Mellon (BK) Outperforming Other Finance Stocks This Year?
Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has The Bank of New York Mellon Corporation (BK) been one of those stocks this year? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
The Bank of New York Mellon Corporation is one of 859 companies in the Finance group. The Finance group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. The Bank of New York Mellon Corporation is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BK's full-year earnings has moved 5.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, BK has gained about 8.5% so far this year. Meanwhile, stocks in the Finance group have lost about 0.3% on average. As we can see, The Bank of New York Mellon Corporation is performing better than its sector in the calendar year.
One other Finance stock that has outperformed the sector so far this year is Brown & Brown (BRO). The stock is up 14.7% year-to-date.
Over the past three months, Brown & Brown's consensus EPS estimate for the current year has increased 6%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, The Bank of New York Mellon Corporation belongs to the Banks - Major Regional industry, which includes 15 individual stocks and currently sits at #28 in the Zacks Industry Rank. On average, this group has gained an average of 10.6% so far this year, meaning that BK is slightly underperforming its industry in terms of year-to-date returns.
Brown & Brown, however, belongs to the Insurance - Brokerage industry. Currently, this 9-stock industry is ranked #82. The industry has moved +4.5% so far this year.
The Bank of New York Mellon Corporation and Brown & Brown could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks.
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