Several brokerages have updated their recommendations and price targets on shares of State Street Corporation (NYSE: STT) in the last few weeks:

  • 9/26/2017 – State Street Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of State Street have significantly outperformed the industry, over the past six months. This performance was supported by the company’s impressive earnings surprise history. It has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Further, the company remains on track to improve efficiency through its multi-year restructuring plan. New business wins, synergies from GE Asset Management deal and easing margin pressure are likely to aid top-line growth. However, mounting expenses mainly owing to higher compensation and employee benefit costs are expected to hurt its profitability.”
  • 9/19/2017 – State Street Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $106.00 price target on the stock. According to Zacks, “Shares of State Street have significantly outperformed the industry, over the past six months. This performance was supported by the company’s impressive earnings surprise history. It has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Further, the company remains on track to improve efficiency through its multi-year restructuring plan. New business wins, synergies from GE Asset Management deal, easing margin pressure and potential lesser regulations are likely to aid top-line growth. However, mounting expenses mainly owing to higher compensation and employee benefit costs are expected to hurt its profitability in the near-term.”
  • 9/18/2017 – State Street Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of State Street have significantly outperformed the industry, over the last six months. This performance was supported by the company’s impressive earnings surprise history. It has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Further, the company remains on track to improve efficiency through its multi-year restructuring plan. New business wins, synergies from GE Asset Management deal, easing margin pressure and potential lesser regulations are likely to aid top-line growth. However, mounting expenses mainly owing to higher compensation and employee benefit costs are expected to hurt its profitability in the near-term.”
  • 9/15/2017 – State Street Corporation had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $100.00 price target on the stock.
  • 8/30/2017 – State Street Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $103.00 price target on the stock. According to Zacks, “Shares of State Street have significantly outperformed the industry, over the last six months. This performance was supported by the company’s impressive earnings surprise history. It hasn’t missed the Zacks Consensus Estimate for earnings in any of the trailing four quarters. Further, the company remains on track to improve efficiency through its multi-year restructuring plan. New business wins, synergies from GE Asset Management deal, easing margin pressure and potential lesser regulations are likely to aid top-line growth. Though mounting expenses (owing to higher compensation and employee benefit costs) might hurt profitability in the near-term, given a solid liquidity position, the company is expected to continue with its capital deployment activities.”
  • 8/29/2017 – State Street Corporation was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of State Street have significantly outperformed the industry, over the last six months. This performance was supported by the company’s impressive earnings surprise history. It hasn’t missed the Zacks Consensus Estimate for earnings in any of the trailing four quarters. Further, the company remains on track to improve efficiency through its multi-year restructuring plan. New business wins, synergies from GE Asset Management deal, easing margin pressure and potential lesser regulations are likely to aid top-line growth. Further, given a solid liquidity position, the company is expected to continue with its capital deployment activities. However, mounting expenses (owing to higher compensation and employee benefit costs) might hurt profitability in the near-term.”
  • 8/28/2017 – State Street Corporation was given a new $93.00 price target on by analysts at Keefe, Bruyette & Woods. They now have a “hold” rating on the stock.
  • 8/22/2017 – State Street Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $103.00 price target on the stock. According to Zacks, “State Street's shares have significantly outperformed the industry, over the last six months. The company remains on track to improve efficiency through its multi-year restructuring plan. Though mounting expenses (owing to higher compensation and employee benefit costs) might hurt profitability, new business wins, synergies from GE Asset Management deal, easing margin pressure and potential lesser regulations will aid top-line growth. Further, given a solid liquidity position, the company is expected to continue with its capital deployment activities.”
  • 8/9/2017 – State Street Corporation is now covered by analysts at Wells Fargo & Company. They set an “outperform” rating and a $115.00 price target on the stock.

State Street Corporation (NYSE:STT) traded up 0.67% during midday trading on Tuesday, hitting $96.99. The stock had a trading volume of 1,273,416 shares. State Street Corporation has a one year low of $68.16 and a one year high of $97.07. The stock’s 50-day moving average is $93.78 and its 200-day moving average is $87.41. The company has a market cap of $36.27 billion, a P/E ratio of 17.91 and a beta of 1.31.

State Street Corporation (NYSE:STT) last announced its quarterly earnings data on Wednesday, July 26th. The asset manager reported $1.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.10. State Street Corporation had a return on equity of 12.49% and a net margin of 19.97%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the business posted $1.46 EPS. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities analysts predict that State Street Corporation will post $6.16 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Monday, October 2nd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend is Friday, September 29th. This is a positive change from State Street Corporation’s previous quarterly dividend of $0.38. State Street Corporation’s dividend payout ratio (DPR) is 31.11%.

In other news, Director Amelia C. Fawcett sold 5,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $93.38, for a total value of $466,900.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Hannah M. Grove sold 3,200 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $92.55, for a total value of $296,160.00. Following the completion of the transaction, the insider now owns 39,896 shares in the company, valued at $3,692,374.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 8,814 shares of company stock valued at $820,385. 0.71% of the stock is owned by corporate insiders.

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.

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