3 Financial Services Stocks On The Rise

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.

One out of the three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 8 points (0.0%) at 16,964 as of Wednesday, July 2, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,180 issues advancing vs. 1,847 declining with 143 unchanged.

The Financial Services industry currently sits down 0.3% versus the S&P 500, which is unchanged. Top gainers within the industry include Noah Holdings ( NOAH), up 5.3%, Altisource Asset Management ( AAMC), up 3.1%, American Capital ( ACAS), up 1.4%, Prospect Capital Corporation ( PSEC), up 1.2% and LPL Financial Holdings ( LPLA), up 0.8%. On the negative front, top decliners within the industry include Bank of New York Mellon ( BK), down 0.8%, Orix ( IX), down 0.7% and BlackRock ( BLK), down 0.6%.

TheStreet would like to highlight 3 stocks pushing the industry higher today:

3. State Street ( STT) is one of the companies pushing the Financial Services industry higher today. As of noon trading, State Street is up $0.41 (0.6%) to $68.07 on average volume. Thus far, 1.2 million shares of State Street exchanged hands as compared to its average daily volume of 2.5 million shares. The stock has ranged in price between $67.60-$68.74 after having opened the day at $67.60 as compared to the previous trading day's close of $67.66.

State Street Corporation provides various financial services and products to institutional investors worldwide. State Street has a market cap of $29.0 billion and is part of the financial sector. Shares are down 7.8% year-to-date as of the close of trading on Tuesday. Currently there are 9 analysts who rate State Street a buy, 2 analysts rate it a sell, and 6 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, reasonable valuation levels, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full State Street Ratings Report now.

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