Opinions Mike Vinokur, CFA, CMT, and CFP
State Street CorpSTTTOP PICKJul 05, 2024
$73.72
Stock price when the opinion was issued
$184.68
As of Aug 07, 2026. Market Open.
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PARTIAL SELL
Mainly custodial services, long-term compounder. Makes $$ by growing assets under management, which have grown over time, but growth not great. SPDR ETF business, decent size and growing nicely. His issue is that its worth is based on market values, less on market activity, and market valuations are up there.
He's been trimming banks in US and Canada.
Martin Cobb, ASIPOwned
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PAST TOP PICK
(A Top Pick Nov 01/22, Down 2%)
Somewhat weaker earnings. Trades at 10x earnings, cheap. Dividend yield is 3.7%. Bought back shares, approval for more, will continue until the stock moves. A great, duopoly business.
Lorne SteinbergOwned
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TOP PICK
Custodian for securities (lending institution).
Oligopoly business - very large pension funds are major clients.
Declining markets hard, but not worried about prospects going forward.
Gaining market share with rising profits.
3% dividend yield is good for investors.
Lorne SteinbergOwned
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DON'T BUY
One of the larger custodial banks and holds assets for pensions, profit sharing plans and mutual funds. The fee stream from this is probably very good and stable. Not sure the growth rate is very satisfactory to management, so started to get more aggressive and ended up hurting their reputation. Will have slow growth going forward.
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Financial services category, but in reality is a "custodian" of security transactions. Very stable business with lots of opportunity. Margins and profits continue to rise. Weakness after Silicon Valley collapse has created buying opportunity. Recent inclusion in US "Fed Test" indicated large amount of excess capital. Expecting large divided payout soon.