Shares of State Street Co. (NYSE:STT – Get Free Report) 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.
View Our Latest Research Report on STT
Institutional Trading of State Street
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 – Get Free Report) 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.
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