Canandaigua National Bank & Trust Co. decreased its position in State Street Corp. (NYSE:STT) by 17.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,820 shares of the company’s stock after selling 2,010 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in State Street Corp. were worth $529,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Alpha Windward LLC boosted its position in State Street Corp. by 1.2% in the second quarter. Alpha Windward LLC now owns 3,553 shares of the company’s stock worth $192,000 after buying an additional 41 shares during the period. Pennsylvania Trust Co boosted its position in State Street Corp. by 1.2% in the second quarter. Pennsylvania Trust Co now owns 3,905 shares of the company’s stock worth $211,000 after buying an additional 45 shares during the period. Bridges Investment Management Inc. boosted its position in State Street Corp. by 2.1% in the first quarter. Bridges Investment Management Inc. now owns 5,105 shares of the company’s stock worth $393,000 after buying an additional 105 shares during the period. Peoples Financial Services CORP. boosted its position in State Street Corp. by 7.2% in the second quarter. Peoples Financial Services CORP. now owns 2,968 shares of the company’s stock worth $160,000 after buying an additional 200 shares during the period. Finally, Fairfield Bush & CO. boosted its position in State Street Corp. by 1.7% in the first quarter. Fairfield Bush & CO. now owns 13,763 shares of the company’s stock worth $805,000 after buying an additional 225 shares during the period. Institutional investors own 86.03% of the company’s stock.

Shares of State Street Corp. (NYSE:STT) traded up 1.57% during trading on Wednesday, hitting $71.07. The company’s stock had a trading volume of 1,999,837 shares. The firm’s 50 day moving average price is $69.20 and its 200-day moving average price is $61.60. State Street Corp. has a 52 week low of $50.60 and a 52 week high of $75.40. The company has a market cap of $27.72 billion, a PE ratio of 14.50 and a beta of 1.49.

State Street Corp. (NYSE:STT) last posted its earnings results on Wednesday, July 27th. The company reported $1.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.20. The business had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.65 billion. State Street Corp. had a net margin of 20.19% and a return on equity of 11.22%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.36 EPS. On average, analysts predict that State Street Corp. will post $0.02 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Monday, October 3rd will be issued a dividend of $0.38 per share. This is a positive change from State Street Corp.’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.52 annualized dividend and a dividend yield of 2.14%. State Street Corp.’s payout ratio is presently 27.64%.

A number of research firms have commented on STT. Deutsche Bank AG restated a “hold” rating on shares of State Street Corp. in a research note on Sunday, July 10th. Barclays PLC reaffirmed a “buy” rating on shares of State Street Corp. in a research report on Saturday, July 9th. Jefferies Group reaffirmed a “buy” rating on shares of State Street Corp. in a research report on Friday, August 5th. TheStreet raised State Street Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 4th. Finally, Keefe, Bruyette & Woods upped their price objective on State Street Corp. from $54.00 to $58.00 and gave the stock an “underperform” rating in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $70.13.

In related news, EVP Karen C. Keenan sold 1,000 shares of State Street Corp. stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $57.51, for a total transaction of $57,510.00. Following the transaction, the executive vice president now owns 65,883 shares in the company, valued at approximately $3,788,931.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Karen C. Keenan sold 7,500 shares of State Street Corp. stock in a transaction on Tuesday, August 30th. The shares were sold at an average price of $70.00, for a total transaction of $525,000.00. Following the transaction, the executive vice president now owns 49,547 shares in the company, valued at approximately $3,468,290. The disclosure for this sale can be found here. Corporate insiders own 0.64% of the company’s stock.

State Street Corp. Company Profile

State Street Corporation, the parent company, is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company, through its subsidiary, State Street Bank, provides a range of financial services and products to institutional investors across the world.

5 Day Chart for NYSE:STT

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