First National Bank of Omaha Invests $3.96 Million in State Street Corporation $STT

First National Bank of Omaha bought a new stake in shares of State Street Corporation (NYSE:STT) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 34,166 shares of the asset manager’s stock, valued at approximately $3,964,000.

Several other institutional investors also recently added to or reduced their stakes in STT. Invesco Ltd. boosted its position in shares of State Street by 4.7% in the second quarter. Invesco Ltd. now owns 8,566,237 shares of the asset manager’s stock valued at $910,934,000 after acquiring an additional 381,547 shares during the period. Dodge & Cox raised its stake in State Street by 1.1% during the 2nd quarter. Dodge & Cox now owns 7,412,414 shares of the asset manager’s stock valued at $788,236,000 after purchasing an additional 80,855 shares during the last quarter. Geode Capital Management LLC grew its position in State Street by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 7,412,130 shares of the asset manager’s stock worth $784,930,000 after purchasing an additional 27,098 shares during the last quarter. Regents of The University of California acquired a new stake in State Street in the 3rd quarter worth $324,576,000. Finally, Nordea Investment Management AB increased its holdings in shares of State Street by 7.8% during the 3rd quarter. Nordea Investment Management AB now owns 2,451,703 shares of the asset manager’s stock worth $283,343,000 after purchasing an additional 178,136 shares during the period. 87.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on STT shares. Wall Street Zen upgraded shares of State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Truist Financial set a $136.00 price objective on shares of State Street in a research note on Tuesday, January 20th. Loop Capital set a $144.00 price objective on shares of State Street in a report on Tuesday, January 6th. TD Cowen reissued a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. 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 given a Sell rating to the stock. According to data from MarketBeat.com, State Street presently has a consensus rating of “Moderate Buy” and an average price target of $135.83.

State Street Price Performance

STT opened at $127.97 on Wednesday. The firm has a market cap of $35.74 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.59 and a current ratio of 0.61. The firm’s 50-day simple moving average is $130.09 and its 200-day simple moving average is $120.29. State Street Corporation has a twelve month low of $72.81 and a twelve month high of $137.05.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.60 earnings per share. Equities research analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Announces Dividend

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

State Street 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.