State Street (NYSE:STT) has been assigned a $55.00 price target by Wells Fargo & Co in a research note issued on Friday, TipRanks reports. The firm currently has a “hold” rating on the asset manager’s stock. Wells Fargo & Co‘s target price suggests a potential upside of 8.08% from the company’s previous close.

Several other brokerages have also issued reports on STT. Buckingham Research decreased their price target on shares of State Street from $83.00 to $67.00 and set a “buy” rating for the company in a research note on Wednesday, June 12th. Bank of America reiterated a “buy” rating and issued a $65.00 price target (down from $75.00) on shares of State Street in a research note on Thursday, June 6th. Morgan Stanley lowered shares of State Street from an “overweight” rating to an “underweight” rating and decreased their price target for the stock from $69.00 to $55.00 in a research note on Monday, July 8th. Royal Bank of Canada decreased their price target on shares of State Street from $80.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, June 19th. Finally, Deutsche Bank decreased their price target on shares of State Street from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $67.89.

NYSE STT traded up $0.69 during trading on Friday, hitting $50.89. The company had a trading volume of 3,243,176 shares, compared to its average volume of 2,937,025. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.52. State Street has a one year low of $48.62 and a one year high of $90.20. The company has a market cap of $18.70 billion, a price-to-earnings ratio of 7.04, a price-to-earnings-growth ratio of 0.80 and a beta of 1.43. The company’s fifty day moving average is $55.85 and its 200-day moving average is $62.94.

State Street (NYSE:STT) last issued its quarterly earnings results on Friday, July 19th. The asset manager reported $1.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.05. The company had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.86 billion. State Street had a net margin of 17.66% and a return on equity of 12.13%. State Street’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business earned $2.05 EPS. As a group, equities analysts anticipate that State Street will post 5.73 EPS for the current year.

In other news, EVP Jeffrey N. Carp sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $51.72, for a total transaction of $1,293,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Saint-Aignan Patrick De purchased 1,500 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $57.75 per share, for a total transaction of $86,625.00. Following the acquisition, the director now owns 29,293 shares in the company, valued at $1,691,670.75. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 3,500 shares of company stock worth $199,745. Insiders own 0.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harvest Group Wealth Management LLC bought a new stake in State Street during the 1st quarter worth approximately $28,000. CWM LLC increased its position in State Street by 693.4% in the second quarter. CWM LLC now owns 484 shares of the asset manager’s stock worth $27,000 after purchasing an additional 423 shares during the last quarter. Putnam FL Investment Management Co. bought a new stake in State Street in the second quarter worth $28,000. Massmutual Trust Co. FSB ADV bought a new stake in State Street in the second quarter worth $31,000. Finally, Zions Bancorporation N.A. bought a new stake in State Street in the first quarter worth $40,000. 88.42% of the stock is currently owned by hedge funds and other institutional investors.

State Street Company Profile

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. It offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; 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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Analyst Recommendations for State Street (NYSE:STT)

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