Wall Street analysts predict that State Street Corp (NYSE:STT) will post earnings per share of $1.71 for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for State Street’s earnings. The highest EPS estimate is $1.78 and the lowest is $1.67. State Street posted earnings of $1.48 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 15.5%. The firm is expected to announce its next quarterly earnings report before the market opens on Tuesday, January 23rd.
On average, analysts expect that State Street will report full year earnings of $6.27 per share for the current financial year, with EPS estimates ranging from $6.20 to $6.29. For the next fiscal year, analysts expect that the business will report earnings of $7.29 per share, with EPS estimates ranging from $7.00 to $7.75. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover State Street.
State Street (NYSE:STT) last issued its earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.61 by $0.10. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. State Street had a net margin of 20.56% and a return on equity of 13.03%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.35 earnings per share.
Shares of State Street (STT) opened at $107.61 on Friday. The firm has a market cap of $39,820.00, a PE ratio of 18.62, a PEG ratio of 1.38 and a beta of 1.35. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.61. State Street has a fifty-two week low of $74.45 and a fifty-two week high of $108.50.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 17th. Shareholders of record on Tuesday, January 2nd were given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, December 29th. State Street’s payout ratio is currently 29.07%.
In other State Street news, insider Andrew Erickson sold 354 shares of State Street stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $92.00, for a total transaction of $32,568.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hannah M. Grove sold 3,200 shares of State Street stock in a transaction dated Thursday, November 2nd. The stock was 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. In the last 90 days, insiders have sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in State Street by 1.9% during the second quarter. Vanguard Group Inc. now owns 24,022,695 shares of the asset manager’s stock worth $2,155,556,000 after acquiring an additional 448,658 shares during the last quarter. Longview Partners Guernsey LTD raised its position in State Street by 6.5% during the third quarter. Longview Partners Guernsey LTD now owns 8,062,726 shares of the asset manager’s stock worth $770,313,000 after acquiring an additional 493,244 shares during the last quarter. Capital International Investors raised its position in State Street by 63.3% during the third quarter. Capital International Investors now owns 5,771,226 shares of the asset manager’s stock worth $551,383,000 after acquiring an additional 2,237,595 shares during the last quarter. Artisan Partners Limited Partnership raised its position in State Street by 44.8% during the third quarter. Artisan Partners Limited Partnership now owns 4,470,723 shares of the asset manager’s stock worth $427,133,000 after acquiring an additional 1,383,249 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in State Street by 0.3% during the third quarter. Bank of New York Mellon Corp now owns 4,349,477 shares of the asset manager’s stock worth $415,547,000 after acquiring an additional 13,453 shares during the last quarter. Institutional investors own 88.14% of the company’s stock.
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.
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