State Street Reaches New 52-Week High (STT)

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 Monday as it is currently trading at $50.69, above its previous 52-week high of $50.66 with 1.2 million shares traded as of 11:46 a.m. ET. Average volume has been four million shares over the past 30 days.

State Street has a market cap of $23.36 billion and is part of the financial sector and banking industry. Shares are up 7.6% year to date as of the close of trading on Friday.

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 12.7, below the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates State Street as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, attractive valuation levels, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full State Street Ratings Report.

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