State Street (NYSE:STT) Rating Reiterated by Evercore ISI

State Street (NYSE:STT)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Evercore ISI in a report released on Wednesday, Benzinga reports. They presently have a $88.00 price objective on the asset manager’s stock. Evercore ISI’s price target suggests a potential upside of 18.69% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Keefe, Bruyette & Woods dropped their target price 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. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 target price on shares of State Street in a report on Wednesday, June 12th. UBS Group raised their target price on State Street from $80.00 to $82.00 and gave the company a “neutral” rating in a report on Friday, April 12th. Argus lifted their price objective on State Street from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $85.00 price objective on shares of State Street in a report on Monday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $83.88.

State Street Stock Performance

NYSE STT opened at $74.14 on Wednesday. The firm has a market capitalization of $22.34 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.28 and a beta of 1.48. State Street has a 1-year low of $62.78 and a 1-year high of $79.90. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.61 and a quick ratio of 0.61. The business’s 50-day simple moving average is $74.28 and its 200-day simple moving average is $74.59.

State Street (NYSE:STT) last announced its earnings results on Friday, April 12th. The asset manager reported $1.69 EPS for the quarter, beating the consensus estimate of $1.48 by $0.21. The business had revenue of $3.14 billion for 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%. Equities analysts predict that State Street will post 7.95 EPS for the current year.

Institutional Investors Weigh In On State Street

Institutional investors have recently made changes to their positions in the company. LRI Investments LLC bought a new stake in shares of State Street in the 1st quarter valued at approximately $25,000. CVA Family Office LLC acquired a new position 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 purchasing an additional 184 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new position in State Street during the 4th quarter valued at approximately $35,000. Finally, Norwood Financial Corp acquired a new position in State Street during the 1st quarter valued at approximately $35,000. 87.44% of the stock is currently owned by institutional investors.

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.