Short Interest in State Street Corporation (NYSE:STT) Expands By 20.1%

State Street Corporation (NYSE:STT) saw a significant increase in short interest in January. As of January 30th, there was short interest totaling 5,563,833 shares, an increase of 20.1% from the January 15th total of 4,630,851 shares. Based on an average daily trading volume, of 2,541,780 shares, the short-interest ratio is presently 2.2 days. Currently, 2.0% of the company’s stock are short sold. Currently, 2.0% of the company’s stock are short sold. Based on an average daily trading volume, of 2,541,780 shares, the short-interest ratio is presently 2.2 days.

State Street Price Performance

Shares of NYSE STT remained flat at $127.97 during trading hours on Tuesday. The company had a trading volume of 1,558,498 shares, compared to its average volume of 2,240,807. The company has a market capitalization of $35.74 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. State Street has a twelve month low of $72.81 and a twelve month high of $137.05. The stock has a fifty day moving average price of $130.06 and a two-hundred day moving average price of $120.15. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last announced its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.82 by $0.15. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.57 billion. State Street had a net margin of 13.02% and a return on equity of 13.46%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 EPS. Sell-side analysts forecast that State Street will post 9.68 earnings per share for the current fiscal year.

State Street Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Friday, January 2nd were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Friday, January 2nd. State Street’s dividend payout ratio is 35.71%.

Institutional Investors Weigh In On State Street

Large investors have recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in State Street during the fourth quarter worth about $296,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of State Street by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,223 shares of the asset manager’s stock worth $2,885,000 after acquiring an additional 918 shares in the last quarter. NewEdge Advisors LLC grew its position in State Street by 105.2% during the 1st quarter. NewEdge Advisors LLC now owns 10,193 shares of the asset manager’s stock worth $913,000 after acquiring an additional 5,226 shares during the last quarter. Empowered Funds LLC increased its holdings in State Street by 220.1% during the 1st quarter. Empowered Funds LLC now owns 23,263 shares of the asset manager’s stock valued at $2,065,000 after purchasing an additional 15,996 shares in the last quarter. Finally, Woodline Partners LP raised its position in State Street by 38.4% in the 1st quarter. Woodline Partners LP now owns 24,372 shares of the asset manager’s stock valued at $2,182,000 after purchasing an additional 6,767 shares during the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on STT. Wells Fargo & Company increased their price objective on State Street from $121.00 to $129.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Loop Capital set a $144.00 price target on shares of State Street in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods upped their price objective on shares of State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, October 20th. Finally, Citigroup raised their target price on shares of State Street from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $135.83.

State Street Company Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.