News headlines about State Street (NYSE:STT) have been trending somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative news coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. State Street earned a daily sentiment score of 0.19 on Accern’s scale. Accern also gave media stories about the asset manager an impact score of 46.9350791727197 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near term.
Here are some of the media stories that may have effected Accern’s analysis:
- State Street Expands Employee Benefit Policies – Business Wire (press release) (businesswire.com)
- State Street: Bank Stocks Can Run Higher In 2018 (finance.yahoo.com)
- Fidelity beats out State Street with 2017 index-fund haul (bizjournals.com)
- State Street (STT) Raised to “Buy” at ValuEngine (americanbankingnews.com)
A number of brokerages recently issued reports on STT. Buckingham Research increased their target price on shares of State Street from $124.00 to $131.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Zacks Investment Research lowered shares of State Street from a “buy” rating to a “hold” rating and set a $109.00 target price for the company. in a research report on Friday, January 5th. Royal Bank of Canada decreased their target price on shares of State Street from $104.00 to $95.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $114.00 target price on shares of State Street in a research report on Friday, December 22nd. Finally, Morgan Stanley increased their target price on shares of State Street from $105.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $106.69.
State Street (NYSE:STT) last posted its quarterly earnings data on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.10). State Street had a net margin of 17.94% and a return on equity of 13.41%. The business had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the business posted $1.48 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. equities analysts forecast that State Street will post 7.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 17th. Stockholders of record on Tuesday, January 2nd were given a dividend of $0.42 per share. The ex-dividend date was Friday, December 29th. This represents a $1.68 annualized dividend and a dividend yield of 1.61%. State Street’s dividend payout ratio (DPR) is 32.12%.
In other news, insider Andrew Erickson sold 354 shares of the firm’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.71% of the company’s stock.
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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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