State Street (NYSE:STT) Price Target Lowered to $79.00 at Deutsche Bank Aktiengesellschaft

State Street (NYSE:STT) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $80.00 to $79.00 in a report issued on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the asset manager’s stock.

A number of other equities research analysts have also weighed in on the company. Citigroup boosted their price target on State Street from $85.00 to $90.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. Royal Bank of Canada upped 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. Wolfe Research reiterated an underperform rating and set a $73.00 price objective on shares of State Street in a research note on Monday, July 8th. The Goldman Sachs Group upped their target price on State Street from $89.00 to $98.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods cut their price objective on State Street from $88.00 to $84.00 and set a market perform rating on the stock in a report on Thursday, June 27th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $88.89.

State Street Stock Up 0.4 %

NYSE:STT traded up $0.29 during midday trading on Thursday, reaching $80.84. 597,112 shares of the stock traded hands, compared to its average volume of 2,236,236. The business has a 50-day moving average of $77.41 and a two-hundred day moving average of $75.40. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54. State Street has a 12-month low of $62.78 and a 12-month high of $86.25. The stock has a market capitalization of $24.14 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.21 and a beta of 1.48.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, beating the consensus estimate of $2.03 by $0.12. State Street had a return on equity of 11.78% and a net margin of 8.98%. The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.15 billion. During the same quarter in the prior year, the business posted $2.17 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, equities analysts forecast that State Street will post 8.15 earnings per share for the current fiscal year.

State Street Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Tuesday, October 1st will be issued a $0.76 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $3.04 dividend on an annualized basis and a yield of 3.76%. This is a positive change from State Street’s previous quarterly dividend of $0.69. State Street’s dividend payout ratio (DPR) is presently 51.69%.

Institutional Investors Weigh In On State Street

A number of large investors have recently modified their holdings of STT. LRI Investments LLC acquired a new stake in shares of State Street in the first quarter valued at approximately $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in State Street in the 2nd quarter valued at $27,000. Norwood Financial Corp acquired a new stake in shares of State Street in the 1st quarter worth $35,000. Versant Capital Management Inc raised its holdings in shares of State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after acquiring an additional 416 shares during the period. Finally, Accent Capital Management LLC acquired a new position in shares of State Street during the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 87.44% of the company’s stock.

State Street Company Profile

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.