On Wednesday, Bk of NY Mellon got an upgrade for its IBD SmartSelect Composite Rating from 93 to 96.
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The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Bk of NY Mellon is currently forming a consolidation, with a 90.34 buy point. See if the stock can break out in volume at least 40% higher than normal.
The stock has a 92 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 92% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
In Q1, the company posted 22% earnings-per-share growth. Revenue growth came in at 6%, down from 11% in the previous quarter.
Bk of NY Mellon holds the No. 4 rank among its peers in the Banks-Money Centers industry group. NatWest Group ADR is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
