The Financial Sector has significantly underperformed the market for a long time now. JP Morgan (JPM) and Citicorp (C) reported better than expected earnings last week. So, is now the time to start to pick up bargains in the beaten down financial sector? One stock that I like here because of valuation and the consistency of earnings is State Street Corporation (STT) .
State Street Corporation, through its subsidiaries, provides various financial services and products to institutional investors worldwide. Its investment servicing business line offers services, such as custody, product-and participant-level accounting, daily pricing, and administration; master trust and master custody; recordkeeping; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; and performance, risk, and compliance analytics.
This business line also provides shareholder services, including mutual fund and collective investment fund shareholder accounting.
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