State Street (NYSE:STT) Stock Price Target Cut by BMO Capital Markets

State Street (NYSE:STT) had its price target decreased by stock analysts at BMO Capital Markets from $212.00 to $200.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. BMO Capital Markets’ target price would suggest a potential upside of 14.83% from the stock’s current price.

Several other research firms also recently commented on STT. The Goldman Sachs Group boosted their price objective on State Street from $168.00 to $194.00 and gave the company a “buy” rating in a report on Tuesday, June 30th. Royal Bank Of Canada lifted their price target on shares of State Street from $155.00 to $196.00 and gave the company a “sector perform” rating in a research report on Friday, July 17th. Citigroup boosted their price target on shares of State Street from $210.00 to $212.00 and gave the company a “buy” rating in a research note on Monday. Barclays upped their price objective on shares of State Street from $165.00 to $200.00 and gave the stock an “equal weight” rating in a report on Friday, July 17th. Finally, Bank of America lifted their price objective on shares of State Street from $160.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, State Street has an average rating of “Moderate Buy” and an average price target of $190.44.

State Street Stock Performance

Shares of STT opened at $174.17 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.59 and a quick ratio of 0.59. The stock has a 50-day moving average of $186.09 and a 200-day moving average of $167.57. The company has a market cap of $47.84 billion, a PE ratio of 15.36, a P/E/G ratio of 0.83 and a beta of 1.41. State Street has a one year low of $104.64 and a one year high of $195.93.

State Street (NYSE:STT) last issued its earnings results on Thursday, July 16th. The asset manager reported $3.65 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.31. The business had revenue of $4.05 billion during the quarter, compared to analyst estimates of $3.88 billion. State Street had a return on equity of 15.26% and a net margin of 15.02%.The firm’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.04 EPS. On average, equities research analysts predict that State Street will post 13.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ronald O’Hanley sold 14,553 shares of State Street stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $184.17, for a total transaction of $2,680,226.01. Following the sale, the chief executive officer directly owned 240,959 shares in the company, valued at approximately $44,377,419.03. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP W. Hu sold 9,758 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $184.52, for a total value of $1,800,546.16. Following the completion of the transaction, the executive vice president directly owned 49,794 shares in the company, valued at approximately $9,187,988.88. This represents a 16.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.27% of the company’s stock.

Hedge Funds Weigh In On State Street

Several institutional investors have recently added to or reduced their stakes in the stock. Philadelphia Investment Partners LLC bought a new position in State Street in the 2nd quarter worth approximately $26,000. Bell Investment Advisors Inc bought a new position in shares of State Street in the second quarter worth $28,000. Phillip James Consulting Co. purchased a new position in shares of State Street in the fourth quarter valued at $30,000. Elevation Wealth Partners LLC raised its stake in shares of State Street by 153.6% during the 2nd quarter. Elevation Wealth Partners LLC now owns 175 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 106 shares during the period. Finally, Continuum Advisory LLC purchased a new stake in State Street during the 2nd quarter worth about $30,000. Institutional investors own 87.44% of the company’s stock.

Key State Street News

Here are the key news stories impacting State Street this week:

• Positive Sentiment: Analysts expect State Street to benefit from factors that could produce an earnings beat in its upcoming report, reinforcing the recent improvement in earnings and revenue momentum. State Street Corporation Earnings Expected to Grow
• Positive Sentiment: State Street is scheduled to report earnings on Wednesday, giving investors a near-term catalyst. The company’s latest quarterly results exceeded consensus estimates for both earnings and revenue, while year-over-year revenue growth was strong. State Street Set to Post Earnings
• Positive Sentiment: Evercore ISI maintained its Buy rating, signaling continued confidence in State Street’s valuation and business outlook. Evercore ISI Keeps Buy Rating
• Neutral Sentiment: State Street reported reductions below substantial-holder thresholds in SRG Global and Predictive Discovery. These appear to be portfolio-position changes through asset-management or custody subsidiaries rather than a direct change to State Street’s operating outlook. State Street Drops Below Threshold in SRG Global State Street Exits Predictive Discovery Holding
• Negative Sentiment: BMO Capital Markets lowered its price target from $212 to $200, indicating a more cautious valuation view. However, it retained an Outperform rating, and the revised target still implies meaningful upside from recent trading levels. BMO Lowers State Street Price Target

State Street Company Profile

State Street Corporation (NYSE: STT) is a financial services company that provides institutional investors, asset managers, asset owners, insurance companies, official institutions and other organizations with investment servicing, investment management and related financial services. Its offerings include custody and fund administration, accounting, transfer agency, collateral management, securities lending, foreign exchange, trading and other capital markets services.

Through State Street Investment Management, the company manages investment strategies and offers products such as exchange-traded funds, index strategies, active strategies and other portfolio solutions.