Bk of NY Mellon saw its IBD SmartSelect Composite Rating jump to 96 Tuesday, up from 94 the day before.
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The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. The top-performing stocks tend to have a 95 or better grade as they kick off a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
Bk of NY Mellon is now out of buy range after breaking out from a 90.34 entry in a consolidation.
The stock has a 93 EPS Rating, which means its recent quarterly and longer-term annual earnings growth is outpacing 93% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
In Q2, the company reported 28% earnings growth. Sales growth increased 9%, up from 6% in the prior quarter. That marks one quarter of rising revenue gains.
Bk of NY Mellon earns the No. 3 rank among its peers in the Banks-Money Centers industry group. NatWest Group ADR is the No. 1-ranked stock within the group.
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