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 $57.82, above its previous 52-week high of $57.72 with 514,602 shares traded as of 9:50 a.m. ET. Average volume has been 4.4 million shares over the past 30 days.

State Street has a market cap of $26.07 billion and is part of the financial sector and banking industry. Shares are up 21.7% 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 14.2, 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, growth in earnings per share, revenue growth, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full State Street Ratings Report.

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