Media coverage about State Street (NYSE:STT) has trended somewhat positive this week, according to Accern Sentiment. Accern scores the sentiment of media coverage by monitoring more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. State Street earned a news impact score of 0.18 on Accern’s scale. Accern also assigned press coverage about the asset manager an impact score of 46.0810947290645 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
These are some of the news stories that may have effected Accern’s scoring:
- Stock Performance in Focus: State Street Corporation (STT) – MostVolatileStocks (press release) (mostvolatilestocks.com)
- Why Investors remained buoyant on: State Street Corporation … – StocksNewsPro (press release) (stocksnewspro.com)
- Investor’s Guide on Hormel Foods Corporation (HRL) and State Street Corporation (STT) – NMSU N?ws (nmsunews.com)
- State Street Appoints Ian Appleyard as New Global Controller and Chief Accounting Officer – Business Wire (press release) (businesswire.com)
A number of equities research analysts have recently commented on STT shares. ValuEngine raised shares of State Street from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of State Street from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a report on Thursday, January 25th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and set a $110.00 target price for the company in a report on Tuesday, December 12th. Bank of America upped their target price on shares of State Street from $108.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Morgan Stanley upped their target price on shares of State Street from $114.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. State Street presently has a consensus rating of “Buy” and a consensus price target of $110.21.
State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.10). State Street had a return on equity of 13.41% and a net margin of 17.94%. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the firm earned $1.48 earnings per share. The company’s revenue was up 8.5% compared to the same quarter last year. equities analysts forecast that State Street will post 7.68 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Monday, April 2nd will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, March 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.72%. State Street’s dividend payout ratio (DPR) is 32.12%.
In other State Street news, CEO Joseph L. Hooley sold 33,568 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $102.65, for a total transaction of $3,445,755.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeff D. Conway sold 747 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $103.07, for a total transaction of $76,993.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,531 shares of company stock worth $5,146,169. Company insiders own 0.71% of the company’s stock.
About State Street
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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