Short Interest in State Street Corporation (NYSE:STT) Increases By 20.1%

State Street Corporation (NYSE:STT) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 5,563,833 shares, an increase of 20.1% from the January 15th total of 4,630,851 shares. Based on an average trading volume of 2,541,780 shares, the short-interest ratio is currently 2.2 days. Currently, 2.0% of the shares of the stock are short sold. Currently, 2.0% of the shares of the stock are short sold. Based on an average trading volume of 2,541,780 shares, the short-interest ratio is currently 2.2 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wilkerson Advisory Group LLC acquired a new stake in shares of State Street during the fourth quarter worth $29,000. JPL Wealth Management LLC bought a new stake in State Street during the third quarter valued at $29,000. True Wealth Design LLC grew its holdings in State Street by 166.3% during the 3rd quarter. True Wealth Design LLC now owns 253 shares of the asset manager’s stock worth $29,000 after acquiring an additional 158 shares during the period. Board of the Pension Protection Fund bought a new position in shares of State Street in the 4th quarter worth about $39,000. Finally, Flagship Wealth Advisors LLC bought a new position in shares of State Street in the 3rd quarter worth about $35,000. Institutional investors own 87.44% of the company’s stock.

State Street Stock Performance

Shares of State Street stock opened at $129.90 on Thursday. The stock has a market cap of $36.28 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 1.12 and a beta of 1.43. State Street has a twelve month low of $72.81 and a twelve month high of $137.05. The company’s fifty day moving average is $130.12 and its 200 day moving average is $120.36. The company has a quick ratio of 0.59, a current ratio of 0.61 and a debt-to-equity ratio of 1.04.

State Street (NYSE:STT) last announced its earnings results on Friday, January 16th. The asset manager reported $2.97 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $3.57 billion. During the same period last year, the company earned $2.60 EPS. State Street’s revenue for the quarter was up 7.5% compared to the same quarter last year. Sell-side analysts forecast that State Street will post 9.68 EPS for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 12th. Investors of record on Friday, January 2nd were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, January 2nd. State Street’s payout ratio is currently 35.71%.

Wall Street Analyst Weigh In

STT has been the topic of a number of research analyst reports. TD Cowen restated a “buy” rating on shares of State Street in a research note on Wednesday, January 7th. Weiss Ratings restated a “buy (b)” rating on shares of State Street in a research report on Wednesday, January 21st. Truist Financial set a $136.00 target price on shares of State Street in a research note on Tuesday, January 20th. Wall Street Zen upgraded State Street from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of State Street in a report on Tuesday, January 6th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $135.83.

State Street Company 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.