Brokerages expect State Street Corp (NYSE:STT) to announce earnings of $1.94 per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for State Street’s earnings, with the lowest EPS estimate coming in at $1.87 and the highest estimate coming in at $2.01. State Street reported earnings of $1.71 per share in the same quarter last year, which indicates a positive year over year growth rate of 13.5%. The business is scheduled to issue its next earnings results on Monday, October 22nd.

According to Zacks, analysts expect that State Street will report full-year earnings of $7.68 per share for the current financial year, with EPS estimates ranging from $7.55 to $7.85. For the next year, analysts forecast that the company will post earnings of $8.14 per share, with EPS estimates ranging from $7.62 to $8.40. Zacks’ EPS averages are an average based on a survey of analysts that cover State Street.

State Street (NYSE:STT) last posted its earnings results on Friday, July 20th. The asset manager reported $1.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.01 by ($0.13). State Street had a return on equity of 14.98% and a net margin of 19.56%. The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the company posted $1.67 EPS. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year.

Several research firms have recently weighed in on STT. Zacks Investment Research lowered shares of State Street from a “buy” rating to a “hold” rating in a report on Monday, May 28th. Deutsche Bank lowered their target price on shares of State Street from $116.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, June 29th. ValuEngine lowered shares of State Street from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Morgan Stanley lowered their target price on shares of State Street from $117.00 to $113.00 and set an “equal weight” rating on the stock in a report on Monday, July 2nd. Finally, Sandler O’Neill reaffirmed a “hold” rating on shares of State Street in a report on Friday, July 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. State Street currently has an average rating of “Hold” and a consensus target price of $105.71.

Shares of STT traded down $0.35 during trading hours on Monday, hitting $86.94. The stock had a trading volume of 15,886 shares, compared to its average volume of 1,948,650. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.52 and a current ratio of 0.52. State Street has a 52 week low of $82.43 and a 52 week high of $114.27. The firm has a market cap of $31.66 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.04 and a beta of 1.19.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, October 1st will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 28th. This represents a $1.88 dividend on an annualized basis and a yield of 2.16%. This is a positive change from State Street’s previous quarterly dividend of $0.42. State Street’s dividend payout ratio is currently 28.19%.

In other news, EVP George E. Sullivan sold 1,611 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $83.18, for a total value of $134,002.98. Following the transaction, the executive vice president now owns 58,847 shares of the company’s stock, valued at approximately $4,894,893.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeff D. Conway sold 343 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $83.16, for a total transaction of $28,523.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,954 shares of company stock worth $2,237,777. Insiders own 0.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of State Street in the 2nd quarter valued at about $109,000. Adviser Investments LLC bought a new position in shares of State Street in the 1st quarter valued at about $145,000. Delta Asset Management LLC TN bought a new position in shares of State Street in the 2nd quarter valued at about $142,000. Signaturefd LLC bought a new position in shares of State Street in the 1st quarter valued at about $160,000. Finally, Institutional & Family Asset Management LLC bought a new position in shares of State Street in the 1st quarter valued at about $162,000. 86.64% of the stock is currently owned by institutional investors.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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