BNY, TROW, STT Struggle Amid Financial Sector’s 2.7% Six-Month Slump

Financial stocks have shed 2.7% over the six months ended June 5, 2026, badly trailing the S&P 500’s 10% gain, as unpredictable interest rates and persistent inflation rattle the industry. Analysts at StockStory flagged three notable laggards — Bank of New York Mellon (NYSE:BNY), T. Rowe Price (NASDAQ:TROW), and State Street (NYSE:STT) — as stocks to avoid. BNY, with a $98.9 billion market cap, trades at $144.33, or 16 times forward earnings. T. Rowe Price, the $22.9 billion investment manager, sits at $107.04, an 11 times forward multiple. State Street, valued at $45 billion, changes hands at $162.76, representing a 12.6 times forward P/E. The report suggests these valuations, combined with the sector headwinds, offer limited near-term upside.