Cardinal Capital Management Has $4.75 Million Holdings in State Street Co. (NYSE:STT)

Cardinal Capital Management boosted its stake in State Street Co. (NYSE:STT) by 1.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,728 shares of the asset manager’s stock after purchasing an additional 571 shares during the period. Cardinal Capital Management’s holdings in State Street were worth $4,753,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. LRI Investments LLC acquired a new stake in shares of State Street in the first quarter valued at about $25,000. Ashton Thomas Private Wealth LLC bought a new stake in State Street in the second quarter valued at approximately $27,000. Norwood Financial Corp acquired a new stake in State Street during the 1st quarter valued at approximately $35,000. Versant Capital Management Inc raised its holdings in State Street by 411.9% during the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after purchasing an additional 416 shares during the last quarter. Finally, Trust Co. of Vermont lifted its position in shares of State Street by 44.4% in the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after purchasing an additional 200 shares during the period. 87.44% of the stock is owned by institutional investors.

State Street Stock Performance

STT opened at $92.56 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89. State Street Co. has a 1-year low of $62.78 and a 1-year high of $94.60. The company has a market cap of $27.88 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 1.29 and a beta of 1.48. The company’s fifty day moving average price is $85.63 and its two-hundred day moving average price is $79.44.

State Street (NYSE:STT) last issued its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.93 earnings per share. On average, analysts expect that State Street Co. will post 8.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STT. Citigroup lifted their target price on shares of State Street from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Wells Fargo & Company lifted their price objective on State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley upped their target price on State Street from $100.00 to $102.00 and gave the company an “equal weight” rating in a research report on Wednesday. StockNews.com upgraded State Street from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on State Street from $79.00 to $87.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $91.39.

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.