State Street (NYSE:STT – Get Rating) had its price target upped by investment analysts at Barclays from $95.00 to $116.00 in a research note issued to investors on Tuesday, The Fly reports. Barclays‘s price objective would suggest a potential upside of 49.54% from the stock’s previous close.
Several other equities research analysts have also weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their target price on State Street from $66.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, November 15th. Citigroup boosted their target price on State Street from $81.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, December 1st. Morgan Stanley lowered State Street from an “overweight” rating to an “equal weight” rating in a report on Tuesday, December 6th. Wells Fargo & Company boosted their target price on State Street to $86.00 in a report on Monday, December 12th. Finally, StockNews.com initiated coverage on State Street in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.12.
State Street Trading Down 1.0 %
Shares of NYSE STT opened at $77.57 on Tuesday. The stock has a market cap of $28.46 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.34 and a beta of 1.57. The business has a 50 day simple moving average of $76.94 and a 200 day simple moving average of $70.51. State Street has a 52 week low of $58.62 and a 52 week high of $104.87. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.54 and a current ratio of 0.54.
State Street (NYSE:STT – Get Rating) last announced its quarterly earnings results on Tuesday, October 18th. The asset manager reported $1.82 EPS for the quarter, beating the consensus estimate of $1.79 by $0.03. The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $2.97 billion. State Street had a return on equity of 11.72% and a net margin of 22.48%. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.00 EPS. On average, research analysts predict that State Street will post 7.22 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of STT. Cetera Advisor Networks LLC raised its stake in shares of State Street by 34.8% in the first quarter. Cetera Advisor Networks LLC now owns 6,173 shares of the asset manager’s stock valued at $538,000 after purchasing an additional 1,594 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of State Street by 0.4% in the first quarter. Yousif Capital Management LLC now owns 61,019 shares of the asset manager’s stock valued at $5,316,000 after purchasing an additional 230 shares in the last quarter. Raymond James Trust N.A. raised its stake in shares of State Street by 29.3% in the first quarter. Raymond James Trust N.A. now owns 4,505 shares of the asset manager’s stock valued at $392,000 after purchasing an additional 1,021 shares in the last quarter. Blair William & Co. IL raised its stake in shares of State Street by 14.3% in the first quarter. Blair William & Co. IL now owns 17,756 shares of the asset manager’s stock valued at $1,547,000 after purchasing an additional 2,216 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of State Street by 3.8% in the first quarter. Sei Investments Co. now owns 280,353 shares of the asset manager’s stock valued at $24,436,000 after purchasing an additional 10,187 shares in the last quarter. 88.41% of the stock is currently owned by institutional investors and hedge funds.
State Street Company Profile
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 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 and enhanced custody products; 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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