Bank of New York "outperform"

Analyst Jacqueline Reeves of Ryan Beck & Co maintains her "outperform" rating on Bank of New York (BK.NYS). The target price is set to $39.

In a research note published this morning, the analyst mentions that the company is well positioned in the Investor Services segment and faces attractive growth opportunities in the targeted client segments as well as globally. Bank of New York's value added services are expected to drive profitability, positive operating leverage and present new business opportunities going forward, the analyst adds.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.