State Street (STT) Getting Somewhat Positive News Coverage, Analysis Shows

News headlines about State Street (NYSE:STT) have been trending somewhat positive recently, according to Accern. The research group identifies negative and positive press coverage by monitoring more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. State Street earned a coverage optimism score of 0.09 on Accern’s scale. Accern also gave press coverage about the asset manager an impact score of 46.5807475439197 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.

Here are some of the headlines that may have impacted Accern Sentiment’s rankings:

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STT has been the topic of a number of research reports. Morgan Stanley lifted their price objective on shares of State Street from $105.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, January 25th. Zacks Investment Research raised State Street from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a report on Thursday, January 25th. Bank of America raised their target price on State Street from $108.00 to $118.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Buckingham Research raised their target price on State Street from $124.00 to $131.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods set a $120.00 target price on State Street and gave the company a “buy” rating in a report on Tuesday, January 23rd. Seven research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $111.33.

Shares of NYSE:STT traded up $2.76 during trading on Thursday, reaching $104.18. 2,533,122 shares of the stock were exchanged, compared to its average volume of 1,773,580. 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 $77.41 and a 12-month high of $114.27. The stock has a market capitalization of $37,110.91, a P/E ratio of 17.28, a PEG ratio of 1.32 and a beta of 1.31.

State Street (NYSE:STT) last issued its earnings results on Tuesday, January 23rd. The asset manager reported $1.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.71 by ($0.10). The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $2.98 billion. State Street had a return on equity of 13.41% and a net margin of 17.94%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.48 EPS. analysts predict that State Street will post 7.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, April 16th. Investors of record on Monday, April 2nd were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.61%. The ex-dividend date was Thursday, March 29th. State Street’s dividend payout ratio (DPR) is presently 28.19%.

In other news, insider Jeff D. Conway sold 747 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $103.07, for a total value of $76,993.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Joseph L. Hooley sold 33,568 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $102.65, for a total value of $3,445,755.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 49,531 shares of company stock worth $5,146,169. 0.40% of the stock is currently owned by corporate insiders.

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State Street Company Profile

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.

Insider Buying and Selling by Quarter for State Street (NYSE:STT)

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