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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 Wednesday as it is currently trading at $58.25, above its previous 52-week high of $58.15 with 1.6 million shares traded as of 12:50 p.m. ET. Average volume has been 4.4 million shares over the past 30 days. State Street has a market cap of $26.09 billion and is part of the financial sector and banking industry. Shares are up 22.3% year to date as of the close of trading on Tuesday. 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 13.6, below the S&P 500 P/E ratio of 17.7.