News articles about State Street Corporation (NYSE:STT) have been trending somewhat positive on Wednesday, according to Accern Sentiment Analysis. Accern rates the sentiment of media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. State Street Corporation earned a media sentiment score of 0.14 on Accern’s scale. Accern also gave news articles about the asset manager an impact score of 46.1297141829436 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the news articles that may have impacted Accern Sentiment’s analysis:
- Wells Fargo & Company Initiates Coverage on State Street Corporation (NYSE:STT) (americanbankingnews.com)
- MOVES- State Street Global Advisors, Sanlam UK, JMI Equity (STT) – Markets Insider (markets.businessinsider.com)
- With $1 Trillion Waiting for Deals, Investors Make Do With ETFs (finance.yahoo.com)
- Why BlackRock Continues to Command Premium Valuations (finance.yahoo.com)
- Zacks: Analysts Anticipate State Street Corporation (NYSE:STT) to Post $1.58 EPS (americanbankingnews.com)
State Street Corporation (NYSE:STT) traded down 0.07% during mid-day trading on Wednesday, hitting $94.28. The stock had a trading volume of 2,138,439 shares. The company has a market capitalization of $35.27 billion, a P/E ratio of 17.41 and a beta of 1.30. State Street Corporation has a 52 week low of $67.45 and a 52 week high of $96.26. The stock’s 50-day moving average is $91.14 and its 200 day moving average is $83.10.
State Street Corporation (NYSE:STT) last released its quarterly earnings results on Wednesday, July 26th. The asset manager reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.10. State Street Corporation had a return on equity of 12.49% and a net margin of 19.97%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the business posted $1.46 EPS. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. Equities analysts forecast that State Street Corporation will post $6.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Monday, October 2nd will be given a $0.42 dividend. The ex-dividend date of this dividend is Friday, September 29th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from State Street Corporation’s previous quarterly dividend of $0.38. State Street Corporation’s payout ratio is currently 28.15%.
State Street Corporation announced that its board has initiated a share repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $1.40 billion in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 4.2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Several research firms recently weighed in on STT. UBS AG raised State Street Corporation from a “neutral” rating to a “buy” rating and upped their price target for the company from $86.00 to $92.00 in a research report on Monday, June 5th. Citigroup Inc. upped their price target on State Street Corporation from $82.00 to $88.00 and gave the company a “neutral” rating in a research report on Tuesday, April 11th. BidaskClub raised State Street Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Keefe, Bruyette & Woods set a $88.00 price target on State Street Corporation and gave the company a “hold” rating in a research report on Saturday, July 1st. Finally, Buckingham Research reissued a “buy” rating and set a $107.00 price target (up from $94.00) on shares of State Street Corporation in a research report on Monday, July 10th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. State Street Corporation presently has an average rating of “Hold” and a consensus price target of $88.63.
In related news, Chairman Joseph L. Hooley sold 5,666 shares of State Street Corporation stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $87.88, for a total value of $497,928.08. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Amelia C. Fawcett sold 5,000 shares of State Street Corporation stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $93.38, for a total value of $466,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,069 shares of company stock worth $1,422,969. 0.64% of the stock is owned by company insiders.
State Street Corporation 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.
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