3 days Ago By ABMN Staff
State Street Co. ( NYSE:STT – Free Report ) – Stock analysts at Zacks Research upped their Q3 2024 earnings estimates for shares of State Street in a research report issued on Friday, September 13th. Zacks Research analyst S.
Shah now anticipates that the asset manager will earn $2.06 per share for the quarter, up from their previous forecast of $2.04.
The consensus estimate for State Street’s current full-year earnings is $8.14 per share. Zacks Research also issued estimates for State Street’s Q4 2024 earnings at $2.
16 EPS, FY2024 earnings at $8.05 EPS, Q1 2025 earnings at $1.65 EPS, Q2 2025 earnings at $2.
37 EPS, Q3 2025 earnings at $2.46 EPS, Q4 2025 earnings at $2.38 EPS, FY2025 earnings at $8.
86 EPS, Q1 2026 earnings at $1.91 EPS and FY2026 earnings at $10.12 EPS.
A number of other brokerages have also weighed in on STT. Bank of America upped their target price on shares of State Street from $85.00 to $96.
00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. The Goldman Sachs Group lifted their target price on State Street from $89.00 to $98.
00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Keefe, Bruyette & Woods lowered their target price on shares of State Street from $88.00 to $84.
00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Royal Bank of Canada lifted their price target on shares of State Street from $85.00 to $91.
00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Finally, Citigroup upped their price target on shares of State Street from $85.00 to $90.
00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, State Street currently has a consensus rating of “Hold” and an average target price of $88.
89. State Street Trading Up 0.8 % Shares of State Street stock opened at $83.
28 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.
54 and a current ratio of 0.54. The company has a fifty day moving average of $82.
01 and a 200 day moving average of $77.06. The company has a market capitalization of $24.
87 billion, a P/E ratio of 15.60, a P/E/G ratio of 1.34 and a beta of 1.
48. State Street has a fifty-two week low of $62.78 and a fifty-two week high of $87.
26. State Street ( NYSE:STT – Get Free Report ) last announced its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.
15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12.
State Street had a return on equity of 11.78% and a net margin of 8.98%.
The company had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.15 billion.
During the same period in the previous year, the company posted $2.17 EPS. The firm’s revenue was up 2.
6% on a year-over-year basis. Hedge Funds Weigh In On State Street Large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in State Street in the 2nd quarter valued at $1,016,000.
Heritage Oak Wealth Advisors LLC acquired a new position in shares of State Street in the second quarter valued at approximately $419,000. Teachers Retirement System of The State of Kentucky boosted its holdings in State Street by 1,078.9% in the second quarter.
Teachers Retirement System of The State of Kentucky now owns 305,973 shares of the asset manager’s stock valued at $22,642,000 after purchasing an additional 280,019 shares during the period. Brandes Investment Partners LP raised its holdings in shares of State Street by 9.6% in the 2nd quarter.
Brandes Investment Partners LP now owns 1,069,556 shares of the asset manager’s stock valued at $79,069,000 after purchasing an additional 93,367 shares in the last quarter. Finally, Quarry LP lifted its holdings in State Street by 1,174.2% during the 2nd quarter.
Quarry LP now owns 2,765 shares of the asset manager’s stock worth $205,000 after buying an additional 2,548 shares during the last quarter. Institutional investors and hedge funds own 87.44% of the company’s stock.
State Street Increases Dividend The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be given a $0.76 dividend.
This represents a $3.04 annualized dividend and a yield of 3.65%.
The ex-dividend date is Tuesday, October 1st. This is a positive change from State Street’s previous quarterly dividend of $0.69.
State Street’s dividend payout ratio is currently 51.69%. State Street Company Profile ( Get Free Report ) State Street Corporation, through its subsidiaries, provides a range of financial products and services to institutional investors worldwide.
The company offers investment servicing products and services, including custody, accounting, regulatory reporting, investor, and performance and analytics; middle office products, such as IBOR, transaction management, loans, cash, derivatives and collateral, record keeping, and client reporting and investment analytics; finance leasing; foreign exchange, and brokerage and other trading services; securities finance and enhanced custody products; deposit and short-term investment facilities; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors. Featured Stories Receive News & Ratings for State Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for State Street and related companies with MarketBeat.com's FREE daily email newsletter .
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