State Street Corporation (NYSE:STT - Free Report) - Research analysts at Seaport Res Ptn increased their Q4 2026 earnings per share estimates for shares of State Street in a note issued to investors on Monday, July 21st. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will earn $3.20 per share for the quarter, up from their previous estimate of $3.15. The consensus estimate for State Street's current full-year earnings is $9.68 per share.
STT has been the subject of several other reports. Keefe, Bruyette & Woods reduced their price objective on State Street from $118.00 to $113.00 and set an "outperform" rating for the company in a research note on Monday, April 21st. The Goldman Sachs Group raised their price objective on State Street from $98.00 to $111.00 and gave the company a "buy" rating in a report on Wednesday, July 2nd. Bank of America raised their target price on State Street from $106.00 to $109.00 and gave the company an "underperform" rating in a research report on Wednesday, July 16th. Evercore ISI lifted their price objective on State Street from $102.00 to $115.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 2nd. Finally, Cfra Research upgraded State Street from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $112.00.
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State Street Stock Performance
Shares of NYSE:STT traded down $0.46 during trading on Thursday, hitting $112.47. The stock had a trading volume of 1,078,090 shares, compared to its average volume of 2,143,108. State Street has a 12-month low of $72.81 and a 12-month high of $113.72. The stock has a market capitalization of $32.07 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.25 and a beta of 1.45. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 1.09. The stock has a 50-day simple moving average of $102.60 and a two-hundred day simple moving average of $95.65.
State Street (NYSE:STT - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.17. State Street had a return on equity of 12.96% and a net margin of 12.59%. The company had revenue of $3.47 billion during the quarter, compared to analysts' expectations of $3.33 billion. During the same period last year, the business posted $2.15 earnings per share. The firm's revenue was up 2.9% compared to the same quarter last year.
State Street Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.84 per share. This is a boost from State Street's previous quarterly dividend of $0.76. This represents a $3.36 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Wednesday, October 1st. State Street's dividend payout ratio is currently 34.04%.
Insider Activity
In other news, EVP Michael L. Richards sold 990 shares of the business's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.29, for a total value of $108,197.10. Following the completion of the sale, the executive vice president directly owned 41,332 shares of the company's stock, valued at approximately $4,517,174.28. The trade was a 2.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Elizabeth Schaefer sold 1,300 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $90.72, for a total value of $117,936.00. Following the completion of the sale, the chief accounting officer directly owned 7,354 shares of the company's stock, valued at $667,154.88. The trade was a 15.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company's stock.
Hedge Funds Weigh In On State Street
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. grew its holdings in State Street by 1.6% during the 1st quarter. Principal Financial Group Inc. now owns 339,406 shares of the asset manager's stock valued at $30,387,000 after buying an additional 5,242 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of State Street by 127.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 30,710 shares of the asset manager's stock worth $2,728,000 after purchasing an additional 17,201 shares during the last quarter. Index Fund Advisors Inc. acquired a new stake in shares of State Street during the first quarter worth $505,000. Bank of New York Mellon Corp boosted its holdings in shares of State Street by 6.0% during the first quarter. Bank of New York Mellon Corp now owns 2,186,569 shares of the asset manager's stock worth $195,764,000 after purchasing an additional 123,259 shares during the last quarter. Finally, Pacific Heights Asset Management LLC boosted its holdings in shares of State Street by 9.1% during the first quarter. Pacific Heights Asset Management LLC now owns 60,000 shares of the asset manager's stock worth $5,372,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company's stock.
State Street Company Profile
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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.
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