State Street Corp (STT) Given Consensus Recommendation of “Hold” by Analysts

State Street Corp (NYSE:STT) has been given an average recommendation of “Hold” by the nineteen research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $82.57.

STT has been the subject of several research reports. Wells Fargo & Co decreased their price target on shares of State Street from $92.00 to $82.00 and set an “outperform” rating for the company in a report on Thursday, December 6th. Zacks Investment Research lowered shares of State Street from a “hold” rating to a “strong sell” rating in a report on Monday, January 14th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $72.00 price target on shares of State Street in a report on Thursday, December 13th. Credit Suisse Group decreased their price target on shares of State Street from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, January 22nd. Finally, Raymond James raised shares of State Street from a “market perform” rating to a “strong-buy” rating and set a $82.00 price target for the company in a report on Monday, January 14th.

Shares of STT traded down $0.02 during midday trading on Wednesday, hitting $69.49. The company had a trading volume of 3,827,300 shares, compared to its average volume of 3,440,280. The company has a market capitalization of $26.38 billion, a P/E ratio of 9.62, a PEG ratio of 1.16 and a beta of 1.36. State Street has a 52 week low of $57.87 and a 52 week high of $110.33. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.50 and a current ratio of 0.53.

State Street (NYSE:STT) last released its earnings results on Friday, January 18th. The asset manager reported $1.68 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.01. State Street had a net margin of 20.05% and a return on equity of 14.44%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the previous year, the firm earned $1.61 EPS. The company’s revenue was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that State Street will post 6.85 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 16th. Shareholders of record on Wednesday, January 2nd were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date was Monday, December 31st. State Street’s payout ratio is 26.04%.

Institutional investors have recently bought and sold shares of the business. Schroder Investment Management Group grew its position in shares of State Street by 41.5% in the 2nd quarter. Schroder Investment Management Group now owns 16,408 shares of the asset manager’s stock worth $1,547,000 after buying an additional 4,815 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of State Street by 7.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 68,040 shares of the asset manager’s stock worth $5,697,000 after buying an additional 4,822 shares during the last quarter. NEXT Financial Group Inc bought a new stake in shares of State Street in the 3rd quarter worth approximately $281,000. Ipswich Investment Management Co. Inc. bought a new stake in shares of State Street in the 3rd quarter worth approximately $233,000. Finally, E&G Advisors LP grew its position in shares of State Street by 37.4% in the 3rd quarter. E&G Advisors LP now owns 8,933 shares of the asset manager’s stock worth $748,000 after buying an additional 2,433 shares during the last quarter. 88.51% of the stock is owned by hedge funds and other institutional investors.

About State Street

State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide. The company offers investment servicing products and services, including custody; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.

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Analyst Recommendations for State Street (NYSE:STT)

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