State Street Corp. (STT) Shares Gap Up to $54.81
State Street Corp. (NYSE:STT) shares gapped up before the market opened on Thursday . The stock had previously closed at $54.18, but opened at $54.81. State Street Corp. shares last traded at $55.98, with a volume of 1,123,980 shares.
Several analysts have weighed in on STT shares. Deutsche Bank AG reissued a “hold” rating on shares of State Street Corp. in a report on Saturday, June 4th. Barclays PLC reissued a “buy” rating on shares of State Street Corp. in a report on Saturday, July 9th. Zacks Investment Research raised State Street Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, April 6th. Credit Suisse Group AG upped their target price on State Street Corp. from $59.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, April 5th. Finally, Jefferies Group reissued a “buy” rating and issued a $64.00 target price on shares of State Street Corp. in a report on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $66.85.
The firm has a 50-day moving average of $57.32 and a 200-day moving average of $58.17. The firm has a market cap of $22.53 billion and a PE ratio of 12.99.
State Street Corp. (NYSE:STT) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.08. The firm earned $2.57 billion during the quarter, compared to the consensus estimate of $2.57 billion. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.17 EPS. Analysts predict that State Street Corp. will post $4.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 18th. Stockholders of record on Friday, July 1st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date is Wednesday, June 29th.
In other news, EVP Jeffrey N. Carp sold 45,000 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $53.80, for a total value of $2,421,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Several institutional investors recently modified their holdings of the company. Harris Associates L P boosted its position in shares of State Street Corp. by 6.1% in the fourth quarter. Harris Associates L P now owns 5,315,245 shares of the company’s stock worth $352,719,000 after buying an additional 305,320 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of State Street Corp. by 28.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,253,932 shares of the company’s stock worth $83,212,000 after buying an additional 278,180 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of State Street Corp. by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 22,032,191 shares of the company’s stock worth $1,462,056,000 after buying an additional 278,137 shares during the last quarter. Alpine Woods Capital Investors LLC bought a new position in shares of State Street Corp. during the fourth quarter worth about $8,169,000. Finally, Morgan Stanley boosted its position in shares of State Street Corp. by 14.8% in the fourth quarter. Morgan Stanley now owns 732,544 shares of the company’s stock worth $48,610,000 after buying an additional 94,676 shares during the last quarter.
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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