State Street (NYSE:STT) Issues Quarterly Earnings Results

State Street (NYSE:STT) released its earnings results on Friday. The asset manager reported $2.60 earnings per share for the quarter, topping the consensus estimate of $2.29 by $0.31, Zacks reports. The firm had revenue of $3.41 billion during the quarter, compared to analysts’ expectations of $3,267,560 billion. State Street had a return on equity of 12.02% and a net margin of 9.87%. The company’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.04 earnings per share.

State Street Stock Performance

Shares of STT stock opened at $100.46 on Friday. The stock has a market capitalization of $29.45 billion, a PE ratio of 15.87, a PEG ratio of 0.97 and a beta of 1.43. The business’s 50 day simple moving average is $97.56 and its 200 day simple moving average is $89.28. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.56 and a quick ratio of 0.56. State Street has a one year low of $70.20 and a one year high of $101.91.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Thursday, January 2nd were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date was Thursday, January 2nd. State Street’s dividend payout ratio is currently 48.03%.

Insiders Place Their Bets

In other news, EVP Kathryn M. Horgan sold 12,500 shares of State Street stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $97.97, for a total value of $1,224,625.00. Following the completion of the transaction, the executive vice president now directly owns 111,042 shares of the company’s stock, valued at approximately $10,878,784.74. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on STT shares. Barclays increased their target price on shares of State Street from $108.00 to $127.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Morgan Stanley dropped their price objective on shares of State Street from $139.00 to $132.00 and set an “overweight” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company boosted their target price on shares of State Street from $108.00 to $118.00 and gave the stock an “overweight” rating in a research note on Thursday, January 2nd. Evercore ISI increased their price target on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, Keefe, Bruyette & Woods raised State Street from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $105.00 to $120.00 in a report on Tuesday, December 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.33.

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.