Press coverage about State Street (NYSE:STT) has trended positive on Friday, according to Accern Sentiment Analysis. The research firm scores the sentiment of news coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. State Street earned a media sentiment score of 0.25 on Accern’s scale. Accern also gave media stories about the asset manager an impact score of 47.1563708591443 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the news articles that may have impacted Accern’s analysis:
- Brokerages Anticipate State Street Corp (STT) to Announce $2.02 EPS (americanbankingnews.com)
- State Street Corporation: State Street Corporation Statement on the Results of Its 2018 Annual Stress Test (twst.com)
- State Street Corporation: State Street Corporation Announces Results of Its 2018 Annual Stress Test (twst.com)
- State Street Global Advisors launches communication services select sector (financial-news.co.uk)
- State Street: DFAST Results Not Fully Indicative Of Capital Distributions (nasdaq.com)
STT has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded State Street from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. Deutsche Bank upgraded State Street from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Monday, April 23rd. Sandler O’Neill restated a “hold” rating and issued a $104.00 target price on shares of State Street in a report on Monday, April 9th. Keefe, Bruyette & Woods set a $115.00 target price on State Street and gave the stock a “buy” rating in a research report on Wednesday, April 4th. Finally, ValuEngine cut State Street from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Seven equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. State Street has an average rating of “Buy” and a consensus target price of $111.29.
State Street (NYSE:STT) last issued its earnings results on Friday, April 20th. The asset manager reported $1.62 EPS for the quarter, beating the consensus estimate of $1.58 by $0.04. State Street had a net margin of 19.07% and a return on equity of 14.23%. The company had revenue of $3.02 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the company posted $1.21 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. equities analysts predict that State Street will post 7.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 17th. Shareholders of record on Monday, July 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Friday, June 29th. State Street’s dividend payout ratio (DPR) is presently 28.19%.
In other State Street news, EVP Karen C. Keenan sold 851 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $100.78, for a total transaction of $85,763.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeff D. Conway sold 288 shares of the firm’s stock in a transaction that occurred on Wednesday, May 16th. The stock was sold at an average price of $100.78, for a total transaction of $29,024.64. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate 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; product and participant level accounting; daily pricing and administration; master trust and master custody; depotbank services; record-keeping; cash management; foreign exchange, brokerage, and other trading services; securities finance; deposit and short-term investment facilities; loans and lease financing; investment manager and alternative investment manager operations outsourcing; performance, risk, and compliance analytics; and financial data management to support institutional investors.
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