State Street Co. (NYSE:STT) Given Average Recommendation of “Hold” by Brokerages

Shares of State Street Co. (NYSE:STT) have been assigned an average recommendation of “Hold” from the thirteen research firms that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $88.89.

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price objective on State Street from $91.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Barclays upped their price objective on shares of State Street from $102.00 to $103.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 17th. Citigroup lifted their target price on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Bank of America upped their price target on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. Finally, Royal Bank of Canada lifted their price objective on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th.

Institutional Trading of State Street

A number of hedge funds and other institutional investors have recently modified their holdings of STT. Benjamin F. Edwards & Company Inc. grew its holdings in shares of State Street by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock valued at $186,000 after purchasing an additional 129 shares during the period. Symmetry Partners LLC grew its stake in shares of State Street by 3.5% in the 1st quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock valued at $294,000 after buying an additional 130 shares during the period. HB Wealth Management LLC grew its stake in shares of State Street by 3.4% in the 1st quarter. HB Wealth Management LLC now owns 4,309 shares of the asset manager’s stock valued at $333,000 after buying an additional 140 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in shares of State Street by 9.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock worth $129,000 after buying an additional 148 shares during the last quarter. Finally, Tompkins Financial Corp raised its position in shares of State Street by 28.3% during the 1st quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock valued at $53,000 after buying an additional 150 shares during the period. 87.44% of the stock is owned by institutional investors and hedge funds.

State Street Stock Performance

Shares of NYSE STT opened at $85.50 on Tuesday. State Street has a 1 year low of $62.78 and a 1 year high of $87.26. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54. The company’s fifty day moving average price is $82.25 and its 200 day moving average price is $77.14. The company has a market capitalization of $25.53 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.34 and a beta of 1.48.

State Street (NYSE:STT) last posted its earnings results on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The company’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $2.17 EPS. On average, research analysts predict that State Street will post 8.14 earnings per share for the current year.

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be given a dividend of $0.76 per share. This is an increase from State Street’s previous quarterly dividend of $0.69. The ex-dividend date is Tuesday, October 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.56%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

State Street Company Profile

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, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.