State Street Corp. (NYSE:STT)‘s stock had its “overweight” rating restated by stock analysts at Barclays PLC in a note issued to investors on Thursday. They currently have a $71.00 target price on the stock. Barclays PLC’s price objective would indicate a potential upside of 8.48% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Citigroup Inc. lifted their target price on State Street Corp. from $65.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday. Deutsche Bank AG lifted their target price on State Street Corp. from $60.00 to $66.00 and gave the stock a “hold” rating in a report on Thursday. Jefferies Group restated a “buy” rating and issued a $74.00 target price (up from $63.00) on shares of State Street Corp. in a report on Thursday. Keefe, Bruyette & Woods lifted their target price on State Street Corp. from $54.00 to $58.00 and gave the stock an “underperform” rating in a report on Thursday. Finally, Argus restated a “buy” rating on shares of State Street Corp. in a report on Friday, April 29th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $68.05.
In other State Street Corp. news, EVP Karen C. Keenan sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $57.51, for a total transaction of $57,510.00. Following the transaction, the executive vice president now owns 65,883 shares in the company, valued at $3,788,931.33. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Jeffrey N. Carp sold 5,000 shares of the stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $55.00, for a total value of $275,000.00. The disclosure for this sale can be found here.
State Street Corp. (NYSE:STT) traded up 2.67% during trading on Thursday, hitting $65.45. The stock had a trading volume of 3,953,471 shares. State Street Corp. has a 1-year low of $50.60 and a 1-year high of $79.80. The firm has a market cap of $25.91 billion and a price-to-earnings ratio of 14.94. The firm’s 50 day moving average is $56.55 and its 200 day moving average is $57.85.
State Street Corp. (NYSE:STT) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.20. The firm earned $2.57 billion during the quarter, compared to the consensus estimate of $2.65 billion. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.36 EPS. On average, analysts anticipate that State Street Corp. will post $4.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 18th. Investors of record on Friday, July 1st were issued a $0.34 dividend. The ex-dividend date of this dividend was Wednesday, June 29th. This represents a $1.36 dividend on an annualized basis and a yield of 2.08%.
State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.
