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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- State Street (NYSE: STT) hit a new 52-week high Friday as it is currently trading at $48.49, above its previous 52-week high of $48.44 with 188,427 shares traded as of 9:50 a.m. ET. Average volume has been 4.1 million shares over the past 30 days. State Street has a market cap of $22.46 billion and is part of the financial sector and banking industry. Shares are up 2.8% year to date as of the close of trading on Thursday. State Street Corporation, a financial holding company, provides various financial products and services to institutional investors worldwide. The company has a P/E ratio of 12.2, below the S&P 500 P/E ratio of 17.7.