State Street (STT) Receiving Somewhat Positive Media Coverage, Analysis Finds

News articles about State Street (NYSE:STT) have trended somewhat positive on Thursday, according to Accern. The research firm scores the sentiment of press coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. State Street earned a daily sentiment score of 0.15 on Accern’s scale. Accern also gave headlines about the asset manager an impact score of 45.6556358916638 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

Here are some of the headlines that may have impacted Accern’s analysis:

Shares of State Street (NYSE STT) traded up $0.27 during trading on Thursday, hitting $97.71. 719,500 shares of the stock traded hands, compared to its average volume of 1,944,796. The firm has a market cap of $36,140.00, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.67 and a beta of 1.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.48 and a current ratio of 0.48. State Street has a fifty-two week low of $74.45 and a fifty-two week high of $100.90.

State Street (NYSE:STT) last issued its quarterly earnings results on Monday, October 23rd. The asset manager reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.61 by $0.10. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.94 billion. State Street had a net margin of 20.56% and a return on equity of 13.03%. State Street’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 EPS. analysts expect that State Street will post 6.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 17th. Investors of record on Tuesday, January 2nd will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Friday, December 29th. State Street’s dividend payout ratio is currently 29.07%.

STT has been the topic of several recent research reports. Zacks Investment Research downgraded shares of State Street from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Keefe, Bruyette & Woods raised shares of State Street from a “market perform” rating to an “outperform” rating and set a $110.00 target price on the stock in a research note on Tuesday, December 12th. Morgan Stanley increased their price objective on shares of State Street from $90.00 to $105.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 24th. Royal Bank of Canada dropped their price objective on shares of State Street from $104.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Tuesday, October 24th. Finally, Citigroup reissued a “neutral” rating and issued a $102.00 price objective (up from $88.00) on shares of State Street in a research report on Monday, October 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $97.87.

In other State Street news, insider Hannah M. Grove sold 3,200 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $92.64, for a total transaction of $296,448.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Andrew Erickson sold 354 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $92.00, for a total transaction of $32,568.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,724 shares of company stock valued at $2,659,741. 0.71% of the stock is owned by company insiders.

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State Street Company Profile

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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