The company estimated that its Tier 1 common equity ratio under the Federal Reserve's final rules to implement Basel III was 10.9% as of June 30, well above State Street's fully-phased in minimum requirement of 8.0%, years ahead of the January 2019 deadline.

State Street's shares closed at $70.10 Thursday, returning 50% year-to-date, following a 19% return during 2012. The shares trade for 13.4 times the consensus 2014 EPS estimate of $5.22. The 2013 EPS estimate is $4.54.

Based on the 26-cent quarterly payout, the shares have a dividend yield of 1.84%.

State Street in March was approved by the Federal Reserve to buy back up to $2.1 billion in common shares through the first quarter of 2014. The company's second-quarter share repurchases totaled $560 million.

STT Chart STT data by YCharts

Interested in more on State Street? See TheStreet Ratings' report card for this stock.


-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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