Deutsche Bank Aktiengesellschaft Increases State Street (NYSE:STT) Price Target to $87.00

State Street (NYSE:STT) had its price target raised by research analysts at Deutsche Bank Aktiengesellschaft from $79.00 to $87.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential downside of 2.06% from the stock’s current price.

Other analysts have also issued reports about the stock. Morgan Stanley increased their price target on shares of State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 17th. Barclays increased their price objective on State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a research note on Wednesday, July 17th. Bank of America upped their target price on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. Royal Bank of Canada lifted their price target on shares of State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 17th. Finally, The Goldman Sachs Group upped their price objective on shares of State Street from $89.00 to $98.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, State Street presently has an average rating of “Hold” and a consensus price target of $89.46.

State Street Price Performance

Shares of State Street stock traded up $0.33 during trading on Monday, reaching $88.83. The company’s stock had a trading volume of 60,999 shares, compared to its average volume of 2,215,075. The company has a market capitalization of $26.53 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 1.38 and a beta of 1.48. State Street has a 12-month low of $62.78 and a 12-month high of $89.49. The business has a 50 day moving average price of $83.19 and a 200-day moving average price of $77.55. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89.

State Street (NYSE:STT) last posted its earnings results on Tuesday, July 16th. The asset manager reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.12. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. State Street’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.17 earnings per share. As a group, sell-side analysts anticipate that State Street will post 8.15 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. LRI Investments LLC purchased a new position in shares of State Street in the 1st quarter valued at $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in State Street in the 2nd quarter valued at $27,000. Norwood Financial Corp purchased a new position in State Street in the first quarter valued at about $35,000. Versant Capital Management Inc lifted its stake in shares of State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after purchasing an additional 416 shares in the last quarter. Finally, Accent Capital Management LLC purchased a new stake in shares of State Street in the fourth quarter worth about $39,000. 87.44% of the stock is owned by institutional investors and hedge funds.

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.