State Street Sees Unusually Large Options Volume (STT)
Shares of State Street (NYSE:STT) were the target of some unusual options trading on Wednesday. Investors purchased 1,226 call options on the company, American Banking News.com reports. This is an increase of approximately 230% compared to the average volume of 372 call options.
Several analysts have recently commented on the stock. Analysts at Argus raised their price target on shares of State Street from $75.00 to $80.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of State Street in a research note on Friday, July 25th. They now have a $70.50 price target on the stock, down previously from $71.50. Finally, analysts at Barclays cut their price target on shares of State Street from $80.00 to $79.00 in a research note on Wednesday, July 23rd. They now have an “overweight” rating on the stock. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $75.23.
Shares of State Street (NYSE:STT) traded up 0.32% on Wednesday, hitting $69.99. 1,817,039 shares of the company’s stock traded hands. State Street has a 52 week low of $62.67 and a 52 week high of $76.24. The stock’s 50-day moving average is $69.31 and its 200-day moving average is $67.1. The company has a market cap of $29.642 billion and a price-to-earnings ratio of 15.18.
State Street (NYSE:STT) last released its earnings data on Tuesday, July 22nd. The company reported $1.39 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.27 by $0.12. The company had revenue of $2.68 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter last year, the company posted $1.24 earnings per share. State Street’s revenue was up 4.7% compared to the same quarter last year. On average, analysts predict that State Street will post $4.81 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 16th. Shareholders of record on Wednesday, October 1st will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, September 29th.
State Street Corporation (NYSE:STT) is a financial holding company.
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