State Street (STT) Expected to Announce Quarterly Earnings on Thursday

State Street (NYSE:STT) is expected to issue its quarterly earnings data before the market opens on Thursday, April 17th. Analysts expect the company to announce earnings of $1.98 per share and revenue of $3.30 billion for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

State Street (NYSE:STT) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The business had revenue of $3.41 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the previous year, the firm earned $2.04 earnings per share. State Street’s revenue for the quarter was up 12.1% compared to the same quarter last year. On average, analysts expect State Street to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

State Street Price Performance

State Street stock opened at $82.47 on Thursday. The stock has a fifty day moving average of $91.80 and a 200-day moving average of $94.12. State Street has a 52 week low of $70.20 and a 52 week high of $103.00. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a market capitalization of $23.80 billion, a P/E ratio of 10.01, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

State Street Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Tuesday, April 1st will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Tuesday, April 1st. State Street’s dividend payout ratio is currently 36.89%.

Analyst Ratings Changes

Several research firms have issued reports on STT. Wolfe Research upgraded shares of State Street from an “underperform” rating to a “peer perform” rating in a report on Monday, January 27th. Morgan Stanley lowered their target price on State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Truist Financial decreased their target price on shares of State Street from $104.00 to $89.00 and set a “hold” rating for the company in a research report on Friday, April 4th. Citigroup lowered their price target on State Street from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $103.00 target price (down previously from $104.00) on shares of State Street in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, State Street currently has a consensus rating of “Hold” and a consensus target price of $101.07.

Insiders Place Their Bets

In other State Street news, EVP Ann Fogarty sold 3,705 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $99.47, for a total value of $368,536.35. Following the sale, the executive vice president now directly owns 50,816 shares in the company, valued at $5,054,667.52. This represents a 6.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gregory L. Summe sold 10,815 shares of State Street stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $100.00, for a total value of $1,081,500.00. Following the sale, the director now directly owns 100,023 shares of the company’s stock, valued at $10,002,300. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in State Street stock. Brighton Jones LLC acquired a new position in State Street Co. (NYSE:STT) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,012 shares of the asset manager’s stock, valued at approximately $296,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

About State Street

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.