A number of research firms have changed their ratings and price targets for State Street Corp. (NYSE: STT):

  • 9/9/2016 – State Street Corp. had its price target raised by analysts at Deutsche Bank AG from $70.00 to $73.00. They now have a “hold” rating on the stock.
  • 9/6/2016 – State Street Corp. was downgraded by analysts at Sandler O’Neill from a “buy” rating to a “hold” rating. They now have a $73.00 price target on the stock.
  • 9/6/2016 – State Street Corp. had its price target raised by analysts at Jefferies Group from $74.00 to $80.00. They now have a “buy” rating on the stock.
  • 9/6/2016 – State Street Corp. was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $79.00 price target on the stock. According to Zacks, “State Street's acquisition of GE Asset Management is expected to lead to revenue synergies in the quarters ahead. Further, the company intends to lower expenses and enhance cost efficiencies by 2020 through its multi-year restructuring plan, State Street Beacon. We believe the company is well positioned to capitalize on growth opportunities based on its sturdy core servicing and investment management franchises. Also, enhanced capital deployment plan continue to boost shareholders’ confidence in the stock. However, rising expenses along with stringent regulations will continue to weigh on its financials. Also, growth in net interest revenue is expected to be sluggish in the coming quarters due to the continuation of the low-rate environment.”
  • 9/6/2016 – State Street Corp. had its “hold” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $74.00 price target on the stock.
  • 8/5/2016 – State Street Corp. was given a new $67.00 price target on by analysts at Deutsche Bank AG. They now have a “hold” rating on the stock.
  • 8/5/2016 – State Street Corp. had its “buy” rating reaffirmed by analysts at Jefferies Group.
  • 8/4/2016 – State Street Corp. was upgraded by analysts at TheStreet from a “hold” rating to a “buy” rating.
  • 7/28/2016 – State Street Corp. had its “buy” rating reaffirmed by analysts at Jefferies Group. They now have a $74.00 price target on the stock, up previously from $63.00.
  • 7/28/2016 – State Street Corp. had its price target raised by analysts at Citigroup Inc. from $65.00 to $68.00. They now have a “neutral” rating on the stock.
  • 7/28/2016 – State Street Corp. had its price target raised by analysts at Deutsche Bank AG from $60.00 to $66.00. They now have a “hold” rating on the stock.
  • 7/28/2016 – State Street Corp. had its price target raised by analysts at Keefe, Bruyette & Woods from $54.00 to $58.00. They now have an “underperform” rating on the stock.
  • 7/28/2016 – State Street Corp. had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $71.00 price target on the stock.

State Street Corp. (NYSE:STT) traded up 1.57% during midday trading on Wednesday, reaching $71.07. 1,999,837 shares of the company’s stock were exchanged. The company has a market cap of $27.72 billion, a price-to-earnings ratio of 14.50 and a beta of 1.49. The firm has a 50-day moving average price of $69.03 and a 200 day moving average price of $61.54. State Street Corp. has a 12-month low of $50.60 and a 12-month high of $75.40.

State Street Corp. (NYSE:STT) last released its quarterly earnings results on Wednesday, July 27th. The company reported $1.46 EPS for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.20. State Street Corp. had a net margin of 20.19% and a return on equity of 11.22%. The business earned $2.57 billion during the quarter, compared to analysts’ expectations of $2.65 billion. During the same quarter in the previous year, the company earned $1.36 EPS. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, analysts expect that State Street Corp. will post $0.02 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Monday, October 3rd will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from State Street Corp.’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, September 29th. State Street Corp.’s payout ratio is presently 27.64%.

In other news, EVP Karen C. Keenan sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $57.51, for a total value of $57,510.00. Following the completion of the sale, the executive vice president now directly owns 65,883 shares in the company, valued at approximately $3,788,931.33. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jeffrey N. Carp sold 45,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $53.80, for a total transaction of $2,421,000.00. The disclosure for this sale can be found here. 0.64% of the stock is currently owned by insiders.

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.

5 Day Chart for NYSE:STT

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