State Street (NYSE:STT) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Analysts at Keefe, Bruyette & Woods raised State Street's price target from $132.00 to $135.00, indicating a potential upside of 21.33% from the current stock price.
• State Street's quarterly earnings surpassed expectations with an EPS of $2.78, exceeding the consensus estimate by $0.21, and showing an 8.8% year-over-year revenue growth.
• Current consensus ratings on State Street stock include two Strong Buy ratings, ten Buy ratings, three Holds, and one Sell, reflecting investor optimism.

State Street (NYSE:STT - Get Free Report) had its price target raised by equities research analysts at Keefe, Bruyette & Woods from $132.00 to $135.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the asset manager's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 21.33% from the stock's current price.

A number of other research firms also recently commented on STT. Bank of America increased their price objective on shares of State Street from $106.00 to $109.00 and gave the company an "underperform" rating in a report on Wednesday, July 16th. Citigroup raised shares of State Street from a "neutral" rating to a "buy" rating and upped their price objective for the company from $115.00 to $130.00 in a report on Friday, September 5th. Evercore ISI upped their price objective on shares of State Street from $117.00 to $128.00 and gave the company an "outperform" rating in a report on Tuesday, September 30th. TD Cowen assumed coverage on shares of State Street in a report on Thursday, September 25th. They issued a "buy" rating for the company. Finally, Cfra Research raised shares of State Street from a "hold" rating to a "moderate buy" rating in a report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, State Street has a consensus rating of "Moderate Buy" and a consensus target price of $125.58.

State Street Price Performance

Shares of NYSE STT opened at $111.27 on Monday. The firm has a market cap of $31.57 billion, a PE ratio of 11.77, a PEG ratio of 1.14 and a beta of 1.46. The firm has a fifty day moving average of $113.60 and a 200 day moving average of $103.27. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.57 and a current ratio of 0.59. State Street has a one year low of $72.81 and a one year high of $118.24.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Friday, October 17th. The asset manager reported $2.78 earnings per share for the quarter, topping analysts' consensus estimates of $2.57 by $0.21. The firm had revenue of $13 billion for the quarter, compared to analyst estimates of $3.43 billion. State Street had a net margin of 13.14% and a return on equity of 13.37%. State Street's quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.26 earnings per share. As a group, research analysts predict that State Street will post 9.68 EPS for the current fiscal year.

Insider Activity

In related news, EVP Michael L. Richards sold 990 shares of State Street stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total value of $108,197.10. Following the transaction, the executive vice president directly owned 41,332 shares in the company, valued at $4,517,174.28. This trade represents a 2.34% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.29% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of STT. First Pacific Financial purchased a new position in State Street in the 1st quarter worth approximately $25,000. Capital Analysts LLC boosted its stake in State Street by 3,914.3% during the first quarter. Capital Analysts LLC now owns 281 shares of the asset manager's stock valued at $25,000 after buying an additional 274 shares in the last quarter. Larson Financial Group LLC boosted its position in shares of State Street by 40.8% in the 1st quarter. Larson Financial Group LLC now owns 407 shares of the asset manager's stock valued at $36,000 after purchasing an additional 118 shares during the period. Golden State Wealth Management LLC raised its stake in shares of State Street by 186.7% during the 1st quarter. Golden State Wealth Management LLC now owns 476 shares of the asset manager's stock worth $43,000 after purchasing an additional 310 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of State Street in the 1st quarter valued at approximately $46,000. Institutional investors and hedge funds own 87.44% of the company's stock.

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, 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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