State Street Co. (NYSE:STT) Receives Average Rating of “Hold” from Analysts

State Street Co. (NYSE:STT) has earned an average rating of “Hold” from the thirteen research firms that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $88.89.

Several equities analysts have issued reports on the stock. Wells Fargo & Company upped their price target on shares of State Street from $91.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Royal Bank of Canada upped their price target on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group upped their price target on shares of State Street from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Bank of America upped their price target on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Finally, Wolfe Research reaffirmed an “underperform” rating and issued a $73.00 price objective on shares of State Street in a research note on Monday, July 8th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. LRI Investments LLC bought a new position in shares of State Street in the first quarter valued at $25,000. Ashton Thomas Private Wealth LLC bought a new position in shares of State Street in the second quarter valued at $27,000. Norwood Financial Corp bought a new position in shares of State Street in the first quarter valued at $35,000. Versant Capital Management Inc lifted its stake in shares of State Street by 411.9% in the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock valued at $38,000 after buying an additional 416 shares in the last quarter. Finally, Accent Capital Management LLC bought a new position in shares of State Street in the fourth quarter valued at $39,000. 87.44% of the stock is owned by institutional investors.

State Street Price Performance

STT stock opened at $88.50 on Tuesday. The company has a 50 day simple moving average of $83.19 and a 200 day simple moving average of $77.51. The stock has a market cap of $26.43 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.38 and a beta of 1.48. State Street has a 1 year low of $62.78 and a 1 year high of $89.42. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.54 and a quick ratio of 0.54.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. State Street had a net margin of 8.98% and a return on equity of 11.78%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.15 billion. During the same period in the prior year, the company earned $2.17 EPS. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. Research analysts anticipate that State Street will post 8.15 EPS for the current fiscal year.

State Street Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Tuesday, October 1st will be paid a dividend of $0.76 per share. The ex-dividend date is Tuesday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a yield of 3.44%. State Street’s dividend payout ratio is currently 51.69%.

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, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.