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

The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has The Bank of New York Mellon Corporation (BK) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.The Bank of New York Mellon Corporation is one of 871 companies in the Finance group. The Finance group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. The Bank of New York Mellon Corporation is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for BK's full-year earnings has moved 3.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Our latest available data shows that BK has returned about 50.4% since the start of the calendar year. At the same time, Finance stocks have gained an average of 23.7%. This means that The Bank of New York Mellon Corporation is outperforming the sector as a whole this year.One other Finance stock that has outperformed the sector so far this year is CI Financial Corp. (CIXXF). The stock is up 51.7% year-to-date.The consensus estimate for CI Financial Corp.'s current year EPS has increased 1.1% over the past three months. 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, a group that includes 15 individual stocks and currently sits at #12 in the Zacks Industry Rank. This group has gained an average of 29.9% so far this year, so BK is performing better in this area.CI Financial Corp. however, belongs to the Financial - Miscellaneous Services industry. Currently, this 84-stock industry is ranked #53. The industry has moved +17.4% so far this year.Going forward, investors interested in Finance stocks should continue to pay close attention to The Bank of New York Mellon Corporation and CI Financial Corp. as they could maintain their solid performance.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Bank of New York Mellon Corporation (BK): Free Stock Analysis Report CI Financial Corp. (CIXXF): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks