Several analysts have recently updated their ratings and price targets for State Street Corporation (NYSE: STT):

  • 8/30/2017 – State Street Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $103.00 price target on the stock. According to Zacks, “Shares of State Street have significantly outperformed the industry, over the last six months. This performance was supported by the company’s impressive earnings surprise history. It hasn’t missed the Zacks Consensus Estimate for earnings in any of the trailing four quarters. Further, the company remains on track to improve efficiency through its multi-year restructuring plan. New business wins, synergies from GE Asset Management deal, easing margin pressure and potential lesser regulations are likely to aid top-line growth. Though mounting expenses (owing to higher compensation and employee benefit costs) might hurt profitability in the near-term, given a solid liquidity position, the company is expected to continue with its capital deployment activities.”
  • 8/29/2017 – State Street Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of State Street have significantly outperformed the industry, over the last six months. This performance was supported by the company’s impressive earnings surprise history. It hasn’t missed the Zacks Consensus Estimate for earnings in any of the trailing four quarters. Further, the company remains on track to improve efficiency through its multi-year restructuring plan. New business wins, synergies from GE Asset Management deal, easing margin pressure and potential lesser regulations are likely to aid top-line growth. Further, given a solid liquidity position, the company is expected to continue with its capital deployment activities. However, mounting expenses (owing to higher compensation and employee benefit costs) might hurt profitability in the near-term.”
  • 8/28/2017 – State Street Corporation was given a new $93.00 price target on by analysts at Keefe, Bruyette & Woods. They now have a “hold” rating on the stock.
  • 8/22/2017 – State Street Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $103.00 price target on the stock. According to Zacks, “State Street's shares have significantly outperformed the industry, over the last six months. The company remains on track to improve efficiency through its multi-year restructuring plan. Though mounting expenses (owing to higher compensation and employee benefit costs) might hurt profitability, new business wins, synergies from GE Asset Management deal, easing margin pressure and potential lesser regulations will aid top-line growth. Further, given a solid liquidity position, the company is expected to continue with its capital deployment activities.”
  • 8/9/2017 – State Street Corporation is now covered by analysts at Wells Fargo & Company. They set an “outperform” rating and a $115.00 price target on the stock.
  • 7/31/2017 – State Street Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “State Street's shares have significantly outperformed the industry, over the last six months. The company's second-quarter 2017 earnings outpaced the Zacks Consensus Estimate. Results reflected higher revenues and improved asset position, partially offset by a rise in expenses. The company remains on track to improve efficiency through its multi-year restructuring plan. Further, new business wins, synergies from GE Asset Management deal easing margin pressure and potential lesser regulations will aid top-line growth. However, mounting expenses (owing to higher compensation and employee benefit costs as well as acquisition and restructuring costs) continue hurting the bottom line.”
  • 7/27/2017 – State Street Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $104.00 price target on the stock. According to Zacks, “State Street's shares have outperformed the industry, over the last six months. Estimates have been going up ahead of the company's second quarter 2017 earnings release. The company remains on track to improve efficiency through its multi-year restructuring plan. Also, easing margin pressure is expected to support top-line growth. Further, it is likely to witness an increase in lending activities once the Financial Choice Act gets implemented, which should lead to further improvement in top-line. However, mounting expenses (owing to higher compensation and employee benefit costs as well as acquisition and restructuring costs) might continue hurting the bottom line in the upcoming quarters.”
  • 7/27/2017 – State Street Corporation had its price target raised by analysts at Barclays PLC from $95.00 to $104.00. They now have an “overweight” rating on the stock.
  • 7/13/2017 – State Street Corporation had its “underweight” rating reaffirmed by analysts at Keefe, Bruyette & Woods.
  • 7/11/2017 – State Street Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $102.00 price target on the stock. According to Zacks, “State Street's shares have outperformed the Zacks categorized Major Regional Banks industry, over the last six months. The company remains on track to improve efficiency through its multi-year restructuring plan. Also, easing margin pressure is expected to support top-line growth. Given a strong capital position, the company is expected to continue enhancing shareholder value through efficient capital deployment activities. Further, it is likely to witness an increase in lending activities once the Financial Choice Act gets implemented, which should lead to further improvement in top-line. However, mounting expenses might continue hurting the bottom line in the upcoming quarters.”
  • 7/10/2017 – State Street Corporation had its “buy” rating reaffirmed by analysts at Buckingham Research. They now have a $107.00 price target on the stock, up previously from $94.00.

Shares of State Street Corporation (NYSE:STT) traded down 0.11% on Wednesday, hitting $91.69. 685,844 shares of the company’s stock were exchanged. The firm has a market cap of $34.29 billion, a P/E ratio of 16.93 and a beta of 1.31. State Street Corporation has a 12 month low of $68.16 and a 12 month high of $96.26. The stock’s 50 day moving average is $92.95 and its 200 day moving average is $85.44.

State Street Corporation (NYSE:STT) last issued its quarterly earnings data on Wednesday, July 26th. The asset manager reported $1.67 EPS for the quarter, beating the consensus estimate of $1.57 by $0.10. The company had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.86 billion. State Street Corporation had a net margin of 19.97% and a return on equity of 12.49%. State Street Corporation’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.46 earnings per share. On average, equities analysts predict that State Street Corporation will post $6.15 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be paid a dividend of $0.42 per share. The ex-dividend date is Friday, September 29th. This represents a $1.68 annualized dividend and a yield of 1.83%. This is a boost from State Street Corporation’s previous quarterly dividend of $0.38. State Street Corporation’s payout ratio is currently 28.15%.

In other State Street Corporation news, Chairman Joseph L. Hooley sold 5,666 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $87.88, for a total value of $497,928.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Jeffrey N. Carp sold 2,656 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $87.88, for a total transaction of $233,409.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,136 shares of company stock valued at $1,551,722. 0.71% of the stock is owned by corporate insiders.

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.

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