FY2024 Earnings Estimate for State Street Co. (NYSE:STT) Issued By Seaport Res Ptn

State Street Co. (NYSE:STT) – Equities research analysts at Seaport Res Ptn increased their FY2024 earnings per share estimates for shares of State Street in a report released on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will earn $7.95 per share for the year, up from their prior estimate of $7.90. The consensus estimate for State Street’s current full-year earnings is $7.94 per share. Seaport Res Ptn also issued estimates for State Street’s Q1 2025 earnings at $1.70 EPS and FY2025 earnings at $8.90 EPS.

Several other equities analysts have also weighed in on STT. Evercore ISI reissued an “outperform” rating and set a $88.00 price objective on shares of State Street in a report on Wednesday. JPMorgan Chase & Co. increased their price objective on State Street from $79.50 to $80.50 in a report on Friday, April 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $85.00 price objective on shares of State Street in a report on Monday. Morgan Stanley reissued an “equal weight” rating and set a $90.00 price objective on shares of State Street in a report on Wednesday, June 12th. Finally, Argus raised their price target on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, State Street has an average rating of “Hold” and an average target price of $83.88.

State Street Stock Performance

Shares of STT opened at $74.14 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $22.34 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 1.29 and a beta of 1.49. The stock has a 50 day moving average of $74.29 and a 200 day moving average of $74.60. State Street has a 12 month low of $62.78 and a 12 month high of $79.90.

State Street (NYSE:STT) last issued its quarterly earnings data on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.48 by $0.21. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.06 billion. State Street had a return on equity of 12.03% and a net margin of 9.62%.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Monday, July 1st will be issued a $0.69 dividend. The ex-dividend date is Monday, July 1st. This represents a $2.76 annualized dividend and a dividend yield of 3.72%. State Street’s dividend payout ratio is currently 51.69%.

Institutional Trading of State Street

Large investors have recently modified their holdings of the business. LRI Investments LLC bought a new stake in shares of State Street in the first quarter worth about $25,000. CVA Family Office LLC bought a new stake in State Street during the 4th quarter valued at approximately $27,000. Venturi Wealth Management LLC boosted its position in State Street by 92.5% during the 4th quarter. Venturi Wealth Management LLC now owns 383 shares of the asset manager’s stock valued at $30,000 after acquiring an additional 184 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in State Street during the 4th quarter valued at approximately $35,000. Finally, Norwood Financial Corp bought a new stake in State Street during the 1st quarter valued at approximately $35,000. 87.44% of the stock is owned by institutional investors.

About State Street

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.