State Street Co. (NYSE:STT) Receives $81.83 Average Price Target from Analysts

State Street Co. (NYSE:STTGet Free Report) has earned a consensus recommendation of “Hold” from the twelve research firms that are currently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $81.83.

STT has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of State Street from $87.00 to $102.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Bank of America reissued an “underperform” rating and issued a $81.00 price objective on shares of State Street in a report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of State Street from $66.00 to $65.00 in a report on Wednesday, October 11th. Wells Fargo & Company restated an “overweight” rating and issued a $83.00 target price on shares of State Street in a research report on Wednesday, December 6th. Finally, Royal Bank of Canada boosted their target price on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research report on Monday, January 22nd.

Check Out Our Latest Stock Report on State Street

Institutional Investors Weigh In On State Street

Institutional investors have recently added to or reduced their stakes in the business. CVA Family Office LLC bought a new stake in State Street during the 4th quarter worth approximately $27,000. Venturi Wealth Management LLC grew its holdings in State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock worth $30,000 after acquiring an additional 184 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in State Street during the 4th quarter worth approximately $35,000. State of Wyoming grew its holdings in State Street by 51.3% during the 2nd quarter. State of Wyoming now owns 619 shares of the asset manager’s stock worth $45,000 after acquiring an additional 210 shares during the last quarter. Finally, Covestor Ltd grew its holdings in State Street by 69.2% during the 1st quarter. Covestor Ltd now owns 572 shares of the asset manager’s stock worth $50,000 after acquiring an additional 234 shares during the last quarter. 89.62% of the stock is owned by institutional investors.

State Street Stock Up 0.8 %

Shares of STT stock opened at $73.03 on Monday. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 0.86. State Street has a 1 year low of $62.78 and a 1 year high of $94.74. The firm’s fifty day moving average price is $75.59 and its two-hundred day moving average price is $70.99. The firm has a market capitalization of $22.54 billion, a P/E ratio of 13.30, a PEG ratio of 1.46 and a beta of 1.53.

State Street (NYSE:STTGet Free Report) last announced its earnings results on Friday, January 19th. The asset manager reported $2.04 EPS for the quarter, topping the consensus estimate of $1.83 by $0.21. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $2.95 billion. State Street had a net margin of 10.59% and a return on equity of 11.86%. State Street’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 EPS. On average, equities analysts predict that State Street will post 7.79 EPS for the current fiscal year.

State Street Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 12th. Investors of record on Tuesday, January 2nd were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Friday, December 29th. State Street’s dividend payout ratio is 50.27%.

About State Street

(Get Free Report

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; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; 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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