News coverage about State Street (NYSE:STT) has been trending positive recently, according to Accern. Accern identifies positive and negative media coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. State Street earned a media sentiment score of 0.41 on Accern’s scale. Accern also assigned press coverage about the asset manager an impact score of 45.4447864831418 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s scoring:
- Ripple Price Prediction: Market Conditions Improve for Enterprise Blockchains (jutiagroup.com)
- State Street Corp (STT) Expected to Announce Quarterly Sales of $3.02 Billion (americanbankingnews.com)
- State Street Corporation (STT) stock is worth at $109.83 – Nasdaq Fortune (press release) (nasdaqfortune.com)
- State Street's Heinel Says Trade Wars Are Bad For Everyone (finance.yahoo.com)
- State Street’s Push for More Females on Boards Proves to Be a Hard Sell (finance.yahoo.com)
State Street (STT) opened at $107.33 on Wednesday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.49 and a current ratio of 0.49. State Street has a 12 month low of $75.27 and a 12 month high of $114.27. The firm has a market capitalization of $40,011.70, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29.
State Street (NYSE:STT) last released its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.10). The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.98 billion. State Street had a net margin of 17.94% and a return on equity of 13.41%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $1.48 EPS. equities research analysts forecast that State Street will post 7.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be paid a $0.42 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.68 annualized dividend and a dividend yield of 1.57%. State Street’s payout ratio is 32.12%.
A number of research firms have recently weighed in on STT. Zacks Investment Research downgraded shares of State Street from a “buy” rating to a “hold” rating and set a $109.00 price objective for the company. in a report on Friday, January 5th. Citigroup raised shares of State Street from a “neutral” rating to a “buy” rating and set a $102.00 price objective for the company in a report on Wednesday, January 10th. Morgan Stanley boosted their price target on shares of State Street from $105.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, January 25th. Barclays boosted their price target on shares of State Street from $104.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $114.00 price objective on shares of State Street in a research note on Friday, December 22nd. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $108.33.
In other news, EVP Andrew P. Kuritzkes sold 10,248 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $108.17, for a total transaction of $1,108,526.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Elizabeth Schaefer sold 1,473 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $105.00, for a total value of $154,665.00. Following the transaction, the chief accounting officer now owns 9,362 shares of the company’s stock, valued at $983,010. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,531 shares of company stock valued at $5,146,169. Corporate insiders own 0.71% of the company’s stock.
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About State Street
State Street Corporation is a financial holding company. The Company operates through two lines of business: Investment Servicing and Investment Management. The Company, through its subsidiary, State Street Bank and Trust Company (State Street Bank), provides a range of financial products and services to institutional investors across the world.
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