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) is trading at unusually high volume Friday with 8.2 million shares changing hands. It is currently at two times its average daily volume and trading up $2.90 (+5.8%) at $53.28 as of 2:46 p.m. ET.
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State Street has a market cap of $23.17 billion and is part of the financial sector and banking industry. Shares are up 7.2% 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 12.6, below the S&P 500 P/E ratio of 17.7. 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. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.