The company estimated that its Tier 1 common equity ratio under the Federal Reserve's final rules to implement Basel III was 10.9% as of June 30, well above State Street's fully-phased in minimum requirement of 8.0%, years ahead of the January 2019 deadline.
State Street's shares closed at $70.10 Thursday, returning 50% year-to-date, following a 19% return during 2012. The shares trade for 13.4 times the consensus 2014 EPS estimate of $5.22. The 2013 EPS estimate is $4.54.
Based on the 26-cent quarterly payout, the shares have a dividend yield of 1.84%.
State Street in March was approved by the Federal Reserve to buy back up to $2.1 billion in common shares through the first quarter of 2014. The company's second-quarter share repurchases totaled $560 million.
Interested in more on State Street? See TheStreet Ratings' report card for this stock.
-- Written by Philip van Doorn in Jupiter, Fla.