State Street (NYSE: STT)‘s stock had its “outperform” rating restated by analysts at RBC Capital in a research report issued to clients and investors on Friday. They currently have a $58.00 price target on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of State Street in a research note to investors on Friday. Separately, analysts at JPMorgan Chase reiterated a “neutral” rating on shares of State Street in a research note to investors on Monday. They now have a $59.00 price target on the stock, up previously from $50.50. Finally, analysts at Jefferies Group upgraded shares of State Street from a “hold” rating to a “buy” rating in a research note to investors on Friday, February 22nd. They now have a $65.00 price target on the stock, up previously from $59.00.
Shares of State Street opened at 56.20 on Friday. State Street has a one year low of $38.95 and a one year high of $58.15. The stock’s 50-day moving average is currently $55.28. The company has a market cap of $25.677 billion and a P/E ratio of 13.47.
State Street last released its earnings data on Friday, January 18th. The company reported $1.11 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.01 by $0.10. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that State Street will post $4.42 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, April 12th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 1.84%. The ex-dividend date is Wednesday, March 27th. This is a boost from State Street’s previous quarterly dividend of $0.24.
State Street Corporation (State Street) is a financial holding company. Through its subsidiaries, including its principal banking subsidiary, State Street Bank and Trust Company (State Street Bank), the Company provides a range of financial products and services to institutional investors worldwide.
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