State Street Corp (STT): Today's Featured Banking Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

State Street ( STT) pushed the Banking industry lower today making it today's featured Banking laggard. The industry as a whole closed the day down 1.7%. By the end of trading, State Street fell $2.35 (-3.5%) to $64.60 on heavy volume. Throughout the day, 5,294,810 shares of State Street exchanged hands as compared to its average daily volume of 2,090,000 shares. The stock ranged in price between $64.48-$67.24 after having opened the day at $67.02 as compared to the previous trading day's close of $66.95. Other companies within the Banking industry that declined today were: QC Holdings ( QCCO), down 12.5%, Chemung Financial Corporation ( CHMG), down 7.2%, Credit Suisse ( XIV), down 7.0% and International Bancshares Corporation ( IBOC), down 6.8%.

State Street Corporation, a financial holding company, provides investment servicing and investment management services to institutional investors worldwide. State Street has a market cap of $30.0 billion and is part of the financial sector. The company has a P/E ratio of 15.0, below the S&P 500 P/E ratio of 17.7. Shares are down 8.8% year to date as of the close of trading on Friday. Currently there are 10 analysts that rate State Street a buy, 2 analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates State Street as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and attractive valuation levels. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.

On the positive front, Credit Suisse ( TVIX), up 14.2%, Cordia Bancorp ( BVA), up 11.0%, Broadway Financial ( BYFC), up 9.9% and 1st Century Bancshrs ( FCTY), up 8.4%.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the banking industry could consider KBW Bank ETF ( KBE) while those bearish on the banking industry could consider ProShares Short KBW Regional Bankng ( KRS).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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