Security National Bank of Sioux City Iowa IA Reduces Stock Position in State Street Corporation $STT

Security National Bank of Sioux City Iowa IA cut its holdings in State Street Corporation (NYSE:STT) by 3.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,746 shares of the asset manager’s stock after selling 805 shares during the period. State Street comprises 1.3% of Security National Bank of Sioux City Iowa IA’s holdings, making the stock its 28th largest holding. Security National Bank of Sioux City Iowa IA’s holdings in State Street were worth $1,857,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in STT. First Pacific Financial purchased a new stake in State Street during the first quarter valued at approximately $25,000. Capital Analysts LLC raised its holdings in State Street by 3,914.3% during the 1st quarter. Capital Analysts LLC now owns 281 shares of the asset manager’s stock valued at $25,000 after buying an additional 274 shares during the period. Larson Financial Group LLC lifted its position in State Street by 40.8% in the first quarter. Larson Financial Group LLC now owns 407 shares of the asset manager’s stock worth $36,000 after buying an additional 118 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in State Street by 186.7% during the first quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager’s stock worth $43,000 after buying an additional 310 shares during the period. Finally, Minot DeBlois Advisors LLC bought a new position in State Street during the fourth quarter valued at $49,000. Institutional investors own 87.44% of the company’s stock.

Insiders Place Their Bets

In other State Street news, EVP Michael L. Richards sold 990 shares of State Street stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total value of $108,197.10. Following the transaction, the executive vice president owned 41,332 shares in the company, valued at $4,517,174.28. The trade was a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

STT has been the subject of several recent analyst reports. Bank of America boosted their target price on State Street from $106.00 to $109.00 and gave the company an “underperform” rating in a research report on Wednesday, July 16th. Morgan Stanley boosted their price objective on State Street from $110.00 to $114.00 and gave the company an “overweight” rating in a report on Tuesday, July 1st. Wells Fargo & Company increased their target price on State Street from $113.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 8th. Cfra Research upgraded shares of State Street from a “hold” rating to a “moderate buy” rating in a report on Tuesday, July 15th. Finally, Evercore ISI lifted their price objective on shares of State Street from $102.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, July 2nd. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, State Street has an average rating of “Moderate Buy” and a consensus target price of $114.18.

State Street Stock Performance

Shares of STT stock opened at $112.18 on Wednesday. The firm has a market cap of $31.83 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 1.10 and a beta of 1.50. State Street Corporation has a 52-week low of $72.81 and a 52-week high of $116.37. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.09. The company’s 50 day moving average is $111.23 and its 200 day moving average is $98.70.

State Street (NYSE:STT) last posted its earnings results on Tuesday, July 15th. The asset manager reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.17. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. State Street had a return on equity of 12.96% and a net margin of 12.59%.State Street’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.15 earnings per share. On average, sell-side analysts anticipate that State Street Corporation will post 9.68 EPS for the current fiscal year.

State Street Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Investors of record on Wednesday, October 1st will be paid a dividend of $0.84 per share. This is an increase from State Street’s previous quarterly dividend of $0.76. The ex-dividend date is Wednesday, October 1st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.0%. State Street’s dividend payout ratio (DPR) is currently 37.63%.

State Street Profile

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.