Investment Analysts’ Weekly Ratings Changes for State Street (STT)

State Street (NYSE: STT) recently received a number of ratings updates from brokerages and research firms:

  • 4/18/2022 – State Street had its price target lowered by analysts at Morgan Stanley from $123.00 to $112.00. They now have an “overweight” rating on the stock.
  • 4/18/2022 – State Street had its price target lowered by analysts at Credit Suisse Group AG from $106.00 to $90.00. They now have a “neutral” rating on the stock.
  • 4/18/2022 – State Street had its price target lowered by analysts at Wells Fargo & Company from $104.00 to $95.00. They now have an “equal weight” rating on the stock.
  • 4/18/2022 – State Street had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $113.00 to $100.00. They now have a “buy” rating on the stock.
  • 4/18/2022 – State Street had its price target lowered by analysts at Barclays PLC from $130.00 to $115.00.
  • 4/11/2022 – State Street was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating.
  • 4/7/2022 – State Street had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $130.00 to $113.00.
  • 3/31/2022 – State Street was downgraded by analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating. They now have a $101.00 price target on the stock.
  • 3/31/2022 – State Street is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
  • 3/28/2022 – State Street had its price target lowered by analysts at Morgan Stanley from $128.00 to $123.00. They now have an “overweight” rating on the stock.

Shares of NYSE STT traded up $1.00 during midday trading on Wednesday, hitting $75.91. The stock had a trading volume of 2,416,557 shares, compared to its average volume of 2,499,775. The company has a market capitalization of $27.89 billion, a price-to-earnings ratio of 10.29, a PEG ratio of 1.15 and a beta of 1.54. State Street Co. has a 1-year low of $72.40 and a 1-year high of $104.87. The company has a quick ratio of 0.55, a current ratio of 0.52 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average price of $86.80 and a 200 day moving average price of $92.46.

State Street (NYSE:STTGet Rating) last released its quarterly earnings data on Thursday, April 14th. The asset manager reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.12. The business had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.03 billion. State Street had a return on equity of 11.59% and a net margin of 22.82%. The company’s revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.47 EPS. On average, research analysts forecast that State Street Co. will post 8.23 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 11th. Stockholders of record on Friday, April 1st were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.00%. The ex-dividend date was Thursday, March 31st. State Street’s dividend payout ratio is currently 30.89%.

In other State Street news, EVP Andrew Erickson sold 16,000 shares of the company’s stock in a transaction that occurred on Monday, January 24th. The stock was sold at an average price of $89.00, for a total value of $1,424,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.27% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lumbard & Kellner LLC purchased a new position in State Street in the 3rd quarter worth approximately $27,000. OLD Second National Bank of Aurora acquired a new position in shares of State Street in the 4th quarter valued at approximately $28,000. Covestor Ltd acquired a new position in shares of State Street in the 4th quarter valued at approximately $31,000. City State Bank acquired a new position in shares of State Street in the 4th quarter valued at approximately $33,000. Finally, Confluence Wealth Services Inc. acquired a new position in shares of State Street in the 4th quarter valued at approximately $35,000. Hedge funds and other institutional investors own 88.89% of the company’s stock.

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; product accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; loans and lease financing; 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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