State Street (STT) Rating Reiterated by Vining Sparks

Vining Sparks reiterated their buy rating on shares of State Street (NYSE:STT) in a research note published on Monday, January 8th. Vining Sparks currently has a $120.00 price objective on the asset manager’s stock.

A number of other research analysts also recently weighed in on STT. Barclays raised their price target on shares of State Street from $104.00 to $120.00 and gave the company an overweight rating in a report on Tuesday, January 2nd. Zacks Investment Research downgraded shares of State Street from a buy rating to a hold rating and set a $109.00 price target on the stock. in a report on Friday, January 5th. Citigroup reiterated a neutral rating and issued a $102.00 target price (up previously from $88.00) on shares of State Street in a report on Monday, October 9th. Keefe, Bruyette & Woods restated a buy rating and set a $114.00 price objective on shares of State Street in a report on Friday, December 22nd. Finally, ValuEngine downgraded shares of State Street from a buy rating to a hold rating in a report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. State Street currently has an average rating of Buy and a consensus price target of $101.13.

State Street (NYSE STT) traded up $1.46 during midday trading on Monday, hitting $107.24. 1,475,592 shares of the company were exchanged, compared to its average volume of 1,466,478. State Street has a fifty-two week low of $74.45 and a fifty-two week high of $107.57. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $39,768.53, a price-to-earnings ratio of 18.59, a PEG ratio of 1.39 and a beta of 1.36.

State Street (NYSE:STT) last posted its quarterly earnings data on Monday, October 23rd. The asset manager reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.10. The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. State Street had a net margin of 20.56% and a return on equity of 13.03%. The company’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business posted $1.35 EPS. analysts forecast that State Street will post 6.27 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, December 29th. State Street’s dividend payout ratio (DPR) is 29.12%.

In other State Street news, Chairman Joseph L. Hooley sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $92.60, for a total value of $2,315,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hannah M. Grove sold 3,200 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $92.64, for a total transaction of $296,448.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of STT. Zions Bancorporation boosted its holdings in shares of State Street by 318.0% in the third quarter. Zions Bancorporation now owns 1,045 shares of the asset manager’s stock valued at $100,000 after buying an additional 795 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of State Street in the second quarter valued at approximately $200,000. Sabal Trust CO acquired a new position in shares of State Street in the third quarter valued at approximately $201,000. Trustmark National Bank Trust Department acquired a new position in State Street during the third quarter worth $204,000. Finally, Tiemann Investment Advisors LLC acquired a new position in State Street during the third quarter worth $204,000. 88.14% of the stock is owned by hedge funds and other institutional investors.

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About State Street

State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.

Analyst Recommendations for State Street (NYSE:STT)

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