State Street (NYSE:STT) Given New $87.00 Price Target at Deutsche Bank Aktiengesellschaft

State Street (NYSE:STT) had its target price lifted by equities researchers at Deutsche Bank Aktiengesellschaft from $79.00 to $87.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential downside of 2.15% from the stock’s current price.

A number of other analysts also recently issued reports on STT. Morgan Stanley lifted their target price on State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 17th. Evercore ISI boosted their price target on State Street from $88.00 to $91.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada raised their target price on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 17th. Keefe, Bruyette & Woods dropped their price target on shares of State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Finally, Wells Fargo & Company lifted their price objective on shares of State Street from $91.00 to $98.00 and gave the company an “overweight” rating in a research report on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, State Street presently has an average rating of “Hold” and a consensus target price of $89.46.

State Street Trading Down 0.2 %

NYSE STT opened at $88.91 on Monday. State Street has a 52 week low of $62.78 and a 52 week high of $89.49. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54. The stock’s 50 day moving average price is $83.47 and its two-hundred day moving average price is $77.79. The stock has a market capitalization of $26.78 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 1.38 and a beta of 1.48.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in shares of State Street in the first quarter valued at about $25,000. Ashton Thomas Private Wealth LLC acquired a new stake in State Street in the 2nd quarter worth about $27,000. Norwood Financial Corp bought a new stake in State Street in the 1st quarter valued at about $35,000. Versant Capital Management Inc grew its position in shares of State Street by 411.9% during the 2nd 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 bought a new position in shares of State Street during the fourth quarter worth approximately $39,000. 87.44% of the stock is owned by institutional investors and hedge funds.

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.