FY2024 Earnings Estimate for State Street Co. (NYSE:STT) Issued By Zacks Research

State Street Co. (NYSE:STT) – Equities research analysts at Zacks Research increased their FY2024 EPS estimates for shares of State Street in a report issued on Wednesday, May 1st. Zacks Research analyst S. Shah now forecasts that the asset manager will post earnings of $7.83 per share for the year, up from their prior forecast of $7.64. The consensus estimate for State Street’s current full-year earnings is $7.93 per share. Zacks Research also issued estimates for State Street’s Q1 2025 earnings at $1.56 EPS.

A number of other equities research analysts have also recently issued reports on STT. Evercore ISI upped their price objective on shares of State Street from $85.00 to $88.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Bank of America reaffirmed an “underperform” rating and issued a $81.00 price objective on shares of State Street in a research note on Thursday, January 4th. Royal Bank of Canada upped their price objective on shares of State Street from $75.00 to $85.00 and gave the company a “sector perform” rating in a research note on Monday, January 22nd. Keefe, Bruyette & Woods cut their price objective on shares of State Street from $89.00 to $86.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Finally, JPMorgan Chase & Co. upped their price objective on shares of State Street from $79.50 to $80.50 in a research note on Friday, April 12th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $84.04.

State Street Price Performance

STT stock opened at $73.64 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.55. State Street has a one year low of $62.78 and a one year high of $79.90. The stock has a market cap of $22.23 billion, a PE ratio of 13.70, a P/E/G ratio of 1.30 and a beta of 1.52. The firm has a 50 day simple moving average of $74.24 and a two-hundred day simple moving average of $72.98.

Institutional Trading of State Street

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC boosted its holdings in shares of State Street by 3.2% in the third quarter. Commonwealth Equity Services LLC now owns 115,057 shares of the asset manager’s stock worth $7,704,000 after buying an additional 3,569 shares during the last quarter. Xponance Inc. boosted its holdings in shares of State Street by 0.8% in the third quarter. Xponance Inc. now owns 43,577 shares of the asset manager’s stock worth $2,918,000 after buying an additional 352 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of State Street by 23.2% in the third quarter. Raymond James & Associates now owns 74,589 shares of the asset manager’s stock worth $4,994,000 after buying an additional 14,067 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of State Street by 114.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 173,619 shares of the asset manager’s stock worth $11,626,000 after buying an additional 92,564 shares during the last quarter. Finally, Total Clarity Wealth Management Inc. purchased a new position in shares of State Street in the third quarter worth approximately $343,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer now directly owns 149,063 shares in the company, valued at approximately $11,015,755.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Anthony Bisegna sold 2,606 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $73.00, for a total transaction of $190,238.00. Following the sale, the executive vice president now directly owns 17,737 shares of the company’s stock, valued at approximately $1,294,801. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Eric W. Aboaf sold 12,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $73.90, for a total transaction of $886,800.00. Following the sale, the chief financial officer now directly owns 149,063 shares in the company, valued at $11,015,755.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,864 shares of company stock worth $1,390,597. 0.31% of the stock is currently owned by corporate insiders.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Monday, April 1st were issued a $0.69 dividend. The ex-dividend date was Thursday, March 28th. This represents a $2.76 annualized dividend and a yield of 3.75%. State Street’s dividend payout ratio (DPR) is presently 51.69%.

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.