BTC Capital Management Inc. Invests $3.01 Million in State Street Corporation $STT

BTC Capital Management Inc. acquired a new position in State Street Corporation (NYSE:STT) in the 3rd quarter, HoldingsChannel reports. The firm acquired 25,971 shares of the asset manager’s stock, valued at approximately $3,012,000.

Other large investors also recently modified their holdings of the company. Brown Advisory Inc. boosted its position in shares of State Street by 0.5% during the second quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock valued at $1,832,000 after buying an additional 93 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in State Street by 38.2% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 94 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in State Street by 7.7% during the 3rd quarter. Global Retirement Partners LLC now owns 1,470 shares of the asset manager’s stock worth $171,000 after acquiring an additional 105 shares during the last quarter. Security National Bank of SO Dak grew its stake in shares of State Street by 0.5% in the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after acquiring an additional 105 shares in the last quarter. Finally, Harbour Investments Inc. grew its stake in shares of State Street by 11.7% in the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock worth $108,000 after acquiring an additional 106 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

Analyst Ratings Changes

STT has been the subject of several analyst reports. Loop Capital set a $144.00 price objective on shares of State Street in a research note on Tuesday, January 6th. Keefe, Bruyette & Woods boosted their target price on State Street from $132.00 to $135.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. TD Cowen reaffirmed a “buy” rating on shares of State Street in a research report on Wednesday, January 7th. Zacks Research lowered State Street from a “strong-buy” rating to a “hold” rating in a report on Monday, December 1st. Finally, Truist Financial set a $136.00 price objective on State Street in a research report on Tuesday, January 20th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $135.83.

State Street Trading Up 1.3%

Shares of STT stock opened at $127.89 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 1.04. The firm has a market cap of $35.72 billion, a P/E ratio of 13.59, a PEG ratio of 1.11 and a beta of 1.43. The company has a 50 day moving average of $129.98 and a 200-day moving average of $119.94. State Street Corporation has a 12-month low of $72.81 and a 12-month high of $137.05.

State Street (NYSE:STT) last posted its quarterly earnings data on Friday, January 16th. The asset manager reported $2.97 EPS for the quarter, beating the consensus estimate of $2.82 by $0.15. State Street had a return on equity of 13.46% and a net margin of 13.02%.The business had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the prior year, the business earned $2.60 earnings per share. State Street’s revenue for the quarter was up 7.5% on a year-over-year basis. Sell-side analysts anticipate that State Street Corporation will post 9.68 earnings per share for the current year.

State Street Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Friday, January 2nd were paid a dividend of $0.84 per share. The ex-dividend date was Friday, January 2nd. This represents a $3.36 annualized dividend and a dividend yield of 2.6%. State Street’s dividend payout ratio is presently 35.71%.

State Street Profile

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.