State Street (STT) Projected to Post Quarterly Earnings on Friday

State Street (NYSE:STT) is expected to issue its quarterly earnings data before the market opens on Friday, January 17th. Analysts expect State Street to post earnings of $2.29 per share and revenue of $3,267,560.00 billion for the quarter.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 12.02% and a net margin of 9.87%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. During the same period last year, the firm posted $1.93 earnings per share. The business’s revenue for the quarter was up 21.1% on a year-over-year basis. On average, analysts expect State Street to post $8 EPS for the current fiscal year and $9 EPS for the next fiscal year.

State Street Trading Up 4.4 %

NYSE STT traded up $4.20 during trading hours on Wednesday, reaching $99.64. The company’s stock had a trading volume of 3,917,266 shares, compared to its average volume of 1,960,009. The firm has a fifty day simple moving average of $97.51 and a 200-day simple moving average of $89.20. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. State Street has a 52 week low of $70.20 and a 52 week high of $101.91. The stock has a market cap of $29.21 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.24 and a beta of 1.43.

State Street Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Thursday, January 2nd were given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 3.05%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio (DPR) is currently 48.03%.

Analysts Set New Price Targets

STT has been the topic of several analyst reports. Morgan Stanley reduced their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating on the stock in a research note on Friday, January 3rd. The Goldman Sachs Group increased their price target on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Truist Financial started coverage on State Street in a research report on Tuesday, January 7th. They set a “hold” rating and a $106.00 price objective for the company. JPMorgan Chase & Co. upgraded State Street from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Friday, December 20th. Finally, Evercore ISI raised their price target on shares of State Street from $89.00 to $94.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $100.33.

Insider Buying and Selling at State Street

In related news, EVP John Plansky sold 13,859 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $91.32, for a total value of $1,265,603.88. Following the transaction, the executive vice president now directly owns 55,108 shares in the company, valued at $5,032,462.56. This trade represents a 20.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total transaction of $1,224,625.00. Following the sale, the executive vice president now owns 111,042 shares of the company’s stock, valued at $10,878,784.74. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,460 shares of company stock valued at $2,499,860. Corporate insiders own 0.31% 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.