Credit Suisse Group AG Reaffirms “Neutral” Rating for State Street Corp (STT)
State Street Corp (NYSE:STT)‘s stock had its “neutral” rating reaffirmed by investment analysts at Credit Suisse Group AG in a research report issued to clients and investors on Tuesday. They presently have a $82.00 price target on the stock, up from their previous price target of $80.00. Credit Suisse Group AG’s price target would indicate a potential upside of 6.78% from the stock’s current price.
A number of other equities analysts have also recently weighed in on the stock. Evercore ISI cut shares of State Street Corp from a “hold” rating to an “underperform” rating and set a $82.00 price objective for the company. in a research report on Friday, March 3rd. Morgan Stanley raised shares of State Street Corp from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, January 31st. Zacks Investment Research cut shares of State Street Corp from a “buy” rating to a “hold” rating in a research report on Friday, January 27th. Argus cut shares of State Street Corp from a “buy” rating to a “hold” rating in a research report on Thursday, January 26th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $89.00 price objective on shares of State Street Corp in a research report on Wednesday, January 11th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $79.42.
State Street Corp (NYSE:STT) traded up 0.63% during mid-day trading on Tuesday, hitting $76.79. The stock had a trading volume of 2,495,869 shares. The company has a 50 day moving average price of $79.15 and a 200 day moving average price of $76.19. The stock has a market cap of $29.33 billion, a P/E ratio of 15.45 and a beta of 1.40. State Street Corp has a one year low of $50.60 and a one year high of $83.49.
State Street Corp (NYSE:STT) last posted its quarterly earnings data on Wednesday, January 25th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.16. The company earned $2.50 billion during the quarter, compared to analysts’ expectations of $2.78 billion. State Street Corp had a net margin of 20.16% and a return on equity of 12.13%. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.21 EPS. On average, equities analysts anticipate that State Street Corp will post $5.79 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 18th. Shareholders of record on Monday, April 3rd will be paid a $0.38 dividend. The ex-dividend date is Thursday, March 30th. This represents a $1.52 annualized dividend and a dividend yield of 1.98%. State Street Corp’s payout ratio is currently 30.52%.
ILLEGAL ACTIVITY NOTICE: “Credit Suisse Group AG Reaffirms “Neutral” Rating for State Street Corp (STT)” was first reported by Watch List News and is the property of of Watch List News. If you are reading this piece of content on another domain, it was stolen and reposted in violation of US & international trademark & copyright laws. The correct version of this piece of content can be viewed at http://www.watchlistnews.com/state-street-corps-stt-hold-rating-reaffirmed-at-credit-suisse-group-ag/1165210.html.
In other State Street Corp news, EVP Andrew P. Kuritzkes sold 4,675 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $80.59, for a total value of $376,758.25. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Karen C. Keenan sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, January 20th. The shares were sold at an average price of $79.12, for a total transaction of $79,120.00. Following the completion of the sale, the executive vice president now owns 46,229 shares in the company, valued at approximately $3,657,638.48. The disclosure for this sale can be found here. Insiders sold 25,851 shares of company stock worth $2,050,862 in the last 90 days. 0.64% of the stock is owned by company insiders.
Several large investors have recently made changes to their positions in STT. Global X Management Co. LLC raised its stake in shares of State Street Corp by 203.0% in the third quarter. Global X Management Co. LLC now owns 1,494 shares of the company’s stock valued at $104,000 after buying an additional 1,001 shares during the last quarter. New York Life Trust Co. purchased a new stake in shares of State Street Corp during the third quarter valued at approximately $119,000. MUFG Americas Holdings Corp raised its stake in shares of State Street Corp by 40.7% in the fourth quarter. MUFG Americas Holdings Corp now owns 1,626 shares of the company’s stock valued at $126,000 after buying an additional 470 shares during the last quarter. Community Bank N.A. raised its stake in shares of State Street Corp by 0.8% in the third quarter. Community Bank N.A. now owns 2,334 shares of the company’s stock valued at $163,000 after buying an additional 19 shares during the last quarter. Finally, Rockefeller Financial Services Inc. raised its stake in shares of State Street Corp by 17.2% in the third quarter. Rockefeller Financial Services Inc. now owns 2,620 shares of the company’s stock valued at $183,000 after buying an additional 385 shares during the last quarter. Institutional investors own 85.06% of the company’s stock.
About State Street Corp
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
Receive News & Ratings for State Street Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.