TITLE

More Thumbs Up for Trust And Processing Banks

AUTHOR(S)

Rieker, Matthias

PUB. DATE

March 2004

SOURCE

American Banker;3/16/2004, Vol. 169 Issue 51, p18

SOURCE TYPE

Trade Publication

DOC. TYPE

Article

ABSTRACT

Shares of banking companies that specialize in trust and processing had a rough start this year, but more analysts are beginning to voice support for the group in the U.S. Nancy A. Bush, who runs her own research firm, NAB Research LLC, upgraded shares of State Street Corp. to "buy" from "hold." State Street began 2004 on a more upbeat note, though chairman chief executive officer David A. Spina attempted to restrain Wall Street's enthusiasm in January's fourth-quarter earnings report, saying the environment was still "fragile." The company is trading at a discount to other trust and processing banking companies, mainly because it still owns and runs a retail bank, a slower-growing business.

ACCESSION #

12524290

Tags: TRUST companies;  BANKING industry -- United States;  STATE Street Corp.;  STOCKS (Finance) -- Prices;  CORPORATE profits

 

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