Is The Bank of New York Mellon (BK) Stock Outpacing Its Finance Peers 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 869 companies in the Finance group. The Finance group currently sits at #2 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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).The Zacks Consensus Estimate for BK's full-year earnings has moved 4.1% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.Based on the most recent data, BK has returned 31% so far this year. Meanwhile, stocks in the Finance group have gained about 10.2% on average. This shows that The Bank of New York Mellon Corporation is outperforming its peers so far this year.Another stock in the Finance sector, IREN Limited (IREN), has outperformed the sector so far this year. The stock's year-to-date return is 68.8%.Over the past three months, IREN Limited's consensus EPS estimate for the current year has increased 3.9%. The stock currently has a Zacks Rank #2 (Buy).Breaking things down more, The Bank of New York Mellon Corporation is a member of the Banks - Major Regional industry, which includes 10 individual companies and currently sits at #32 in the Zacks Industry Rank. On average, this group has gained an average of 7.5% so far this year, meaning that BK is performing better in terms of year-to-date returns. IREN Limited, however, belongs to the Financial - Miscellaneous Services industry. Currently, this 93-stock industry is ranked #144. The industry has moved +7% 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 IREN Limited as they could maintain their solid performance.Higher. Faster. Sooner. Buy These Stocks NowA small number of stocks are primed for a breakout, and you have a chance to get in before they take off.At any given time, there are only 220 Zacks Rank #1 Strong Buys. On average, this list more than doubles the S&P 500. We’ve combed through the latest Strong Buys and selected 7 compelling companies likely to jump sooner and climb higher than any other stock you could buy this month.You'll learn everything you need to know about these exciting trades in our brand-new Special Report, 7 Best Stocks for the Next 30 Days.Download the report free 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 IREN Limited (IREN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks