Several analysts have recently updated their ratings and price targets for State Street Corporation (NYSE: STT):

  • 7/13/2017 – State Street Corporation had its “underweight” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
  • 7/11/2017 – State Street Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $102.00 price target on the stock. According to Zacks, “State Street's shares have outperformed the Zacks categorized Major Regional Banks industry, over the last six months. The company remains on track to improve efficiency through its multi-year restructuring plan. Also, easing margin pressure is expected to support top-line growth. Given a strong capital position, the company is expected to continue enhancing shareholder value through efficient capital deployment activities. Further, it is likely to witness an increase in lending activities once the Financial Choice Act gets implemented, which should lead to further improvement in top-line. However, mounting expenses might continue hurting the bottom line in the upcoming quarters.”
  • 7/10/2017 – State Street Corporation had its “buy” rating reaffirmed by analysts at Buckingham Research. They now have a $107.00 price target on the stock, up previously from $94.00.
  • 7/1/2017 – State Street Corporation was given a new $88.00 price target on by analysts at Keefe, Bruyette & Woods. They now have a “hold” rating on the stock.
  • 6/28/2017 – State Street Corporation was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “conviction-buy” rating. They now have a $100.00 price target on the stock, up previously from $92.00.
  • 6/23/2017 – State Street Corporation had its “hold” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $86.00 price target on the stock.
  • 6/22/2017 – State Street Corporation was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/19/2017 – State Street Corporation had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $87.00 price target on the stock.
  • 6/10/2017 – State Street Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/5/2017 – State Street Corporation was upgraded by analysts at UBS AG from a “neutral” rating to a “buy” rating. They now have a $92.00 price target on the stock, up previously from $86.00.
  • 5/26/2017 – State Street Corporation had its “neutral” rating reaffirmed by analysts at Bank of America Corporation. They now have a $88.00 price target on the stock.

Shares of State Street Corporation (STT) opened at 92.56 on Tuesday. State Street Corporation has a 52-week low of $55.88 and a 52-week high of $92.84. The stock’s 50 day moving average price is $84.95 and its 200-day moving average price is $80.96. The company has a market capitalization of $34.82 billion, a P/E ratio of 17.32 and a beta of 1.29.

State Street Corporation (NYSE:STT) last posted its quarterly earnings results on Wednesday, April 26th. The asset manager reported $1.21 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.11. State Street Corporation had a return on equity of 12.38% and a net margin of 20.54%. The firm had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.75 billion. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts expect that State Street Corporation will post $5.94 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Monday, July 3rd will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date is Thursday, June 29th. State Street Corporation’s payout ratio is currently 28.46%.

In related news, EVP Jeffrey N. Carp sold 2,656 shares of State Street Corporation stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $87.88, for a total transaction of $233,409.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Joseph L. Hooley sold 5,666 shares of State Street Corporation stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $87.88, for a total value of $497,928.08. The disclosure for this sale can be found here. Insiders sold 14,069 shares of company stock valued at $1,201,189 over the last ninety days. Corporate insiders own 0.64% of the company’s stock.

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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