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Posted by
Two Blokes Jun 17 -
Filed in
Stock
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6 views
State Street has done okay since my last update in November, with both fee and revenue growth outpacing underlying cost growth. State Street's business model should appeal to the more conservative investor, with only minimal credit risk here compared to the typical bank. State Street trades for around 1.9x tangible book value and is earning a high-teens return on tangible equity, pointing to a modest price/earnings ratio. Its shareholder yield is also healthy.
