State Street Corporation (STT) Earning Somewhat Favorable Press Coverage, Report Shows
Media stories about State Street Corporation (NYSE:STT) have trended somewhat positive on Monday, according to Accern Sentiment Analysis. The research firm scores the sentiment of news coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. State Street Corporation earned a news sentiment score of 0.10 on Accern’s scale. Accern also gave news stories about the asset manager an impact score of 45.6446220113897 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
These are some of the news stories that may have effected Accern Sentiment’s scoring:
- State Street Corporation (STT) Insider Hannah M. Grove Sells 3,200 Shares (americanbankingnews.com)
- Edited Transcript of STT earnings conference call or presentation 26-Jul-17 1:30pm GMT (finance.yahoo.com)
- State Street Corporation (NYSE:STT) Expected to Post Quarterly Sales of $2.90 Billion (americanbankingnews.com)
- Brandes Investment Partners, Lp Sold A Lot More State Street Corporation (STT) Stock – First News 24 (firstnewspaper24.com)
- State Street Corporation (STT-G) AO Signal Intensifying Over Past 5 Bars – Berry Recorder (berryrecorder.com)
A number of research analysts have recently issued reports on STT shares. Bank of America Corporation reiterated a “neutral” rating and issued a $88.00 price target on shares of State Street Corporation in a report on Friday, May 26th. Goldman Sachs Group, Inc. (The) lifted their price target on State Street Corporation from $88.00 to $92.00 and gave the company a “buy” rating in a report on Monday, May 1st. Deutsche Bank AG cut their price target on State Street Corporation from $81.00 to $80.00 and set a “hold” rating on the stock in a report on Monday, April 24th. Keefe, Bruyette & Woods set a $88.00 price target on State Street Corporation and gave the company a “hold” rating in a report on Wednesday, April 26th. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $86.00 price target on shares of State Street Corporation in a report on Friday, June 23rd. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $90.18.
Shares of State Street Corporation (NYSE:STT) traded up 1.56% during mid-day trading on Monday, reaching $93.52. The company’s stock had a trading volume of 1,451,271 shares. The company’s 50-day moving average is $91.96 and its 200-day moving average is $83.79. The stock has a market capitalization of $34.97 billion, a price-to-earnings ratio of 17.27 and a beta of 1.30. State Street Corporation has a 52 week low of $67.55 and a 52 week high of $96.26.
State Street Corporation (NYSE:STT) last posted its earnings results on Wednesday, July 26th. The asset manager reported $1.67 EPS for the quarter, beating the consensus estimate of $1.57 by $0.10. The firm had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.86 billion. State Street Corporation had a return on equity of 12.49% and a net margin of 19.97%. State Street Corporation’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.46 earnings per share. Equities analysts predict that State Street Corporation will post $6.13 EPS for the current year.
State Street Corporation declared that its board has approved a stock repurchase plan on Wednesday, June 28th that allows the company to repurchase $1.40 billion in outstanding shares. This repurchase authorization allows the asset manager to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend is Friday, September 29th. This is a positive change from State Street Corporation’s previous quarterly dividend of $0.38. State Street Corporation’s dividend payout ratio is 28.15%.
In other State Street Corporation news, Director Amelia C. Fawcett sold 5,000 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $93.38, for a total value of $466,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider George E. Sullivan sold 2,718 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $81.81, for a total transaction of $222,359.58. Following the completion of the transaction, the insider now owns 73,090 shares of the company’s stock, valued at approximately $5,979,492.90. The disclosure for this sale can be found here. Insiders sold 19,269 shares of company stock worth $1,719,129 in the last three months. 0.64% of the stock is currently owned by corporate insiders.
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About State Street Corporation
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.
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