A number of firms have modified their ratings and price targets on shares of State Street (NYSE: STT) recently:
- 7/22/2024 – State Street had its price target raised by analysts at Citigroup Inc. from $85.00 to $90.00. They now have a “neutral” rating on the stock.
- 7/17/2024 – State Street had its price target raised by analysts at Bank of America Co. from $85.00 to $96.00. They now have an “underperform” rating on the stock.
- 7/17/2024 – State Street had its price target raised by analysts at Royal Bank of Canada from $85.00 to $91.00. They now have a “sector perform” rating on the stock.
- 7/17/2024 – State Street had its price target raised by analysts at Wells Fargo & Company from $91.00 to $98.00. They now have an “overweight” rating on the stock.
- 7/17/2024 – State Street had its price target raised by analysts at Barclays PLC from $102.00 to $103.00. They now have an “overweight” rating on the stock.
- 7/17/2024 – State Street had its price target raised by analysts at Evercore ISI from $88.00 to $91.00. They now have an “outperform” rating on the stock.
- 7/17/2024 – State Street had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $75.00 to $80.00. They now have a “hold” rating on the stock.
- 7/17/2024 – State Street had its price target raised by analysts at Morgan Stanley from $90.00 to $93.00. They now have an “equal weight” rating on the stock.
- 7/17/2024 – State Street had its price target raised by analysts at The Goldman Sachs Group, Inc. from $89.00 to $98.00. They now have a “buy” rating on the stock.
- 7/8/2024 – State Street had its “underperform” rating reaffirmed by analysts at Wolfe Research. They now have a $73.00 price target on the stock.
- 7/3/2024 – State Street had its “outperform” rating reaffirmed by analysts at Evercore ISI. They now have a $88.00 price target on the stock.
- 7/1/2024 – State Street had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $85.00 price target on the stock.
- 6/27/2024 – State Street had its price target lowered by analysts at Keefe, Bruyette & Woods from $88.00 to $84.00. They now have a “market perform” rating on the stock.
- 6/12/2024 – State Street had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $90.00 price target on the stock.
State Street Trading Up 2.4 %
Shares of NYSE:STT traded up $1.97 during mid-day trading on Thursday, hitting $84.93. The company had a trading volume of 622,764 shares, compared to its average volume of 2,297,123. The firm has a fifty day moving average price of $75.73 and a 200 day moving average price of $74.82. The company has a market capitalization of $25.59 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.30 and a beta of 1.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.61. State Street Co. has a one year low of $62.78 and a one year high of $86.24.
State Street (NYSE:STT – Get Free Report) last posted its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.17 EPS. As a group, research analysts forecast that State Street Co. will post 8.12 EPS for the current year.
State Street Increases Dividend
Institutional Investors Weigh In On State Street
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in shares of State Street in the first quarter worth approximately $25,000. CVA Family Office LLC bought a new stake in State Street in the fourth quarter valued at $27,000. Venturi Wealth Management LLC lifted its position in State Street by 92.5% during the fourth quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after buying an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new position in State Street during the fourth quarter valued at $35,000. Finally, Norwood Financial Corp purchased a new position in State Street during the first quarter valued at $35,000. 87.44% of the stock is currently owned by institutional investors.
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.
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