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

State Street (NYSE:STT) is expected to post its quarterly earnings results 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 released its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.14. State Street had a net margin of 9.87% and a return on equity of 12.02%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the firm earned $1.93 earnings per share. The company’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 opened at $99.64 on Thursday. The firm has a market capitalization of $29.21 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 1.24 and a beta of 1.43. The business’s 50-day moving average price is $97.51 and its two-hundred day moving average price is $89.20. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.91. State Street has a 12 month low of $70.20 and a 12 month high of $101.91.

State Street Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were issued 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 payout ratio is presently 48.03%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods upgraded shares of State Street from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $105.00 to $120.00 in a research report on Tuesday, December 3rd. Evercore ISI boosted their target price on shares of State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group increased their price target on State Street from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Truist Financial initiated coverage on State Street in a research note on Tuesday, January 7th. They issued a “hold” rating and a $106.00 price objective on the stock. Finally, Barclays raised their target price on State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, State Street has an average rating of “Hold” and a consensus price target of $100.33.

Insider Activity at State Street

In other State Street news, EVP John Plansky sold 13,859 shares of the business’s 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 owns 55,108 shares of the company’s stock, valued at approximately $5,032,462.56. The trade was a 20.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathryn M. Horgan sold 12,500 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $97.97, for a total value of $1,224,625.00. Following the sale, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,460 shares of company stock valued at $2,499,860. 0.31% of the stock is owned by insiders.

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.