State Street (NYSE:STT) PT Raised to $87.00

State Street (NYSE:STT) had its target price increased by analysts at Deutsche Bank Aktiengesellschaft from $79.00 to $87.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the asset manager’s stock. Deutsche Bank Aktiengesellschaft’s target price would indicate a potential downside of 2.15% from the stock’s current price.

A number of other research analysts have also recently issued reports on the company. Barclays lifted their price objective on State Street from $102.00 to $103.00 and gave the company an “overweight” rating in a report on Wednesday, July 17th. Bank of America boosted their price target on shares of State Street from $85.00 to $96.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Keefe, Bruyette & Woods dropped their price objective on shares of State Street from $88.00 to $84.00 and set a “market perform” rating for the company in a report on Thursday, June 27th. Wells Fargo & Company boosted their target price on State Street from $91.00 to $98.00 and gave the stock an “overweight” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley raised their price target on State Street from $90.00 to $93.00 and gave the company an “equal weight” rating in a report on Wednesday, July 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, State Street has an average rating of “Hold” and an average price target of $89.46.

State Street Price Performance

Shares of State Street stock opened at $88.91 on Monday. The firm has a market cap of $26.78 billion, a P/E ratio of 16.65, a price-to-earnings-growth ratio of 1.38 and a beta of 1.48. The firm’s 50-day simple moving average is $83.47 and its 200-day simple moving average is $77.79. State Street has a twelve month low of $62.78 and a twelve month high of $89.49. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.54 and a current ratio of 0.54.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, July 16th. The asset manager reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.12. State Street had a return on equity of 11.78% and a net margin of 8.98%. The company had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.15 billion. During the same period in the previous year, the business earned $2.17 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts expect that State Street will post 8.15 EPS for the current fiscal year.

Hedge Funds Weigh In On State Street

Large investors have recently bought and sold shares of the business. LRI Investments LLC bought a new stake in shares of State Street during the 1st quarter valued at $25,000. Ashton Thomas Private Wealth LLC bought a new stake in State Street in the second quarter valued at about $27,000. Norwood Financial Corp acquired a new position in State Street in the first quarter valued at about $35,000. Versant Capital Management Inc boosted its holdings in State Street by 411.9% during the second quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after buying an additional 416 shares during the last quarter. Finally, Accent Capital Management LLC bought a new stake in shares of State Street in the 4th quarter valued at about $39,000. 87.44% of the stock is currently owned by institutional investors and hedge funds.

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.