State Street Corp. (NYSE:STT) had its target price upped by Jefferies Group from $80.00 to $81.00 in a research note issued to investors on Monday. Jefferies Group currently has a buy rating on the stock.
Several other equities analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods raised shares of State Street Corp. from an underperform rating to a market perform rating in a research note on Wednesday, October 5th. Credit Agricole SA raised their price target on shares of State Street Corp. from $60.00 to $73.00 and gave the stock an underperform rating in a research note on Friday, September 23rd. Deutsche Bank AG raised their price target on shares of State Street Corp. from $70.00 to $73.00 and gave the stock a hold rating in a research note on Friday, September 9th. Credit Suisse Group AG reaffirmed a hold rating and set a $74.00 price target on shares of State Street Corp. in a research note on Tuesday, September 6th. Finally, Zacks Investment Research raised shares of State Street Corp. from a hold rating to a buy rating and set a $79.00 price target for the company in a research note on Tuesday, September 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. State Street Corp. presently has a consensus rating of Hold and an average target price of $70.42.
State Street Corp. (NYSE:STT) traded down 0.67% during trading on Monday, reaching $71.36. 335,167 shares of the company’s stock traded hands. State Street Corp. has a 12 month low of $50.60 and a 12 month high of $75.40. The company has a market capitalization of $27.83 billion, a price-to-earnings ratio of 14.56 and a beta of 1.52. The firm’s 50 day moving average is $70.19 and its 200-day moving average is $62.83.
State Street Corp. (NYSE:STT) last posted its earnings results on Wednesday, July 27th. The company reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.20. State Street Corp. had a return on equity of 11.22% and a net margin of 20.19%. The business earned $2.57 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same period in the prior year, the business earned $1.36 EPS. State Street Corp.’s revenue for the quarter was down 1.3% compared to the same quarter last year. Analysts expect that State Street Corp. will post $0.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Monday, October 3rd will be given a dividend of $0.38 per share. This is a boost from State Street Corp.’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.52 annualized dividend and a yield of 2.12%. State Street Corp.’s dividend payout ratio (DPR) is presently 30.89%.
In other State Street Corp. news, EVP Jeffrey N. Carp sold 40,196 shares of the stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $61.76, for a total transaction of $2,482,504.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Karen C. Keenan sold 1,000 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $57.51, for a total value of $57,510.00. Following the transaction, the executive vice president now owns 65,883 shares in the company, valued at approximately $3,788,931.33. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of STT. Fuller & Thaler Asset Management Inc. purchased a new position in State Street Corp. during the second quarter valued at $113,000. Advisory Services Network LLC boosted its position in shares of State Street Corp. by 4.4% in the second quarter. Advisory Services Network LLC now owns 2,154 shares of the company’s stock worth $116,000 after buying an additional 90 shares during the last quarter. Rockefeller Financial Services Inc. boosted its position in shares of State Street Corp. by 86.3% in the second quarter. Rockefeller Financial Services Inc. now owns 2,235 shares of the company’s stock worth $121,000 after buying an additional 1,035 shares during the last quarter. Euclid Advisors LLC bought a new position in shares of State Street Corp. during the second quarter worth approximately $147,000. Finally, Peoples Financial Services CORP. boosted its position in shares of State Street Corp. by 7.2% in the second quarter. Peoples Financial Services CORP. now owns 2,968 shares of the company’s stock worth $160,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 86.03% of the company’s stock.
About State Street Corp.
State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.
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