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

State Street Co. (NYSE:STT) has earned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $89.46.

Several equities analysts have recently commented on STT shares. Wolfe Research reaffirmed an “underperform” rating and set a $73.00 price target on shares of State Street in a research report on Monday, July 8th. Bank of America increased their target price on State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Royal Bank of Canada boosted their price target on State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Barclays lifted their price objective on shares of State Street from $102.00 to $103.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley boosted their target price on shares of State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 17th.

Institutional Trading of State Street

Several large investors have recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. lifted its position in State Street by 5.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,514 shares of the asset manager’s stock worth $186,000 after purchasing an additional 129 shares during the period. Symmetry Partners LLC lifted its holdings in shares of State Street by 3.5% in the first quarter. Symmetry Partners LLC now owns 3,802 shares of the asset manager’s stock valued at $294,000 after purchasing an additional 130 shares in the last quarter. HB Wealth Management LLC boosted its position in shares of State Street by 3.4% in the first quarter. HB Wealth Management LLC now owns 4,309 shares of the asset manager’s stock worth $333,000 after buying an additional 140 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of State Street by 9.3% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,739 shares of the asset manager’s stock valued at $129,000 after buying an additional 148 shares in the last quarter. Finally, Tompkins Financial Corp raised its position in State Street by 28.3% during the first quarter. Tompkins Financial Corp now owns 680 shares of the asset manager’s stock valued at $53,000 after buying an additional 150 shares during the period. 87.44% of the stock is currently owned by institutional investors and hedge funds.

State Street Price Performance

STT stock opened at $89.13 on Tuesday. The company has a market capitalization of $26.85 billion, a PE ratio of 16.69, a P/E/G ratio of 1.38 and a beta of 1.48. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89. The stock’s 50 day moving average is $83.39 and its two-hundred day moving average is $77.67. State Street has a 52-week low of $62.78 and a 52-week high of $89.49.

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

State Street Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st will be given a dividend of $0.76 per share. The ex-dividend date is Tuesday, October 1st. This is an increase from State Street’s previous quarterly dividend of $0.69. This represents a $3.04 annualized dividend and a dividend yield of 3.41%. State Street’s payout ratio is currently 56.93%.

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.