State Street (NYSE:STT) Rating Increased to Strong-Buy at BMO Capital Markets

State Street (NYSE:STT) was upgraded by research analysts at BMO Capital Markets to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

Other equities analysts have also issued research reports about the stock. Cfra Research raised shares of State Street from a “hold” rating to a “moderate buy” rating in a report on Tuesday, July 15th. Weiss Ratings reissued a “buy (b)” rating on shares of State Street in a report on Saturday, September 27th. Morgan Stanley reissued an “overweight” rating and issued a $162.00 price target on shares of State Street in a report on Monday. Wells Fargo & Company increased their target price on shares of State Street from $113.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group set a $128.00 target price on shares of State Street in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, State Street presently has an average rating of “Moderate Buy” and an average price target of $122.67.

State Street Price Performance

Shares of NYSE:STT opened at $116.35 on Thursday. The company’s fifty day moving average price is $112.83 and its 200-day moving average price is $101.38. The firm has a market capitalization of $33.01 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.12 and a beta of 1.46. State Street has a one year low of $72.81 and a one year high of $118.06. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.57 and a quick ratio of 0.57.

State Street (NYSE:STT) last issued its quarterly earnings results on Tuesday, July 15th. The asset manager reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.17. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. State Street had a net margin of 12.59% and a return on equity of 12.96%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.15 EPS. On average, equities research analysts anticipate that State Street will post 9.68 earnings per share for the current fiscal year.

Insider Transactions at State Street

In other State Street news, EVP Michael L. Richards sold 990 shares of the firm’s stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.29, for a total value of $108,197.10. Following the sale, the executive vice president owned 41,332 shares of the company’s stock, valued at $4,517,174.28. This trade represents a 2.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On State Street

A number of large investors have recently added to or reduced their stakes in the company. Brown Advisory Inc. grew its position in shares of State Street by 0.5% in the 2nd quarter. Brown Advisory Inc. now owns 17,224 shares of the asset manager’s stock worth $1,832,000 after acquiring an additional 93 shares in the last quarter. Security National Bank of SO Dak grew its position in shares of State Street by 0.5% in the 2nd quarter. Security National Bank of SO Dak now owns 21,528 shares of the asset manager’s stock worth $2,289,000 after acquiring an additional 105 shares in the last quarter. Harbour Investments Inc. grew its position in shares of State Street by 11.7% in the 2nd quarter. Harbour Investments Inc. now owns 1,012 shares of the asset manager’s stock worth $108,000 after acquiring an additional 106 shares in the last quarter. McAdam LLC grew its position in shares of State Street by 1.7% in the 2nd quarter. McAdam LLC now owns 6,650 shares of the asset manager’s stock worth $707,000 after acquiring an additional 111 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its position in shares of State Street by 2.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 5,756 shares of the asset manager’s stock worth $515,000 after acquiring an additional 114 shares in the last quarter. Institutional investors own 87.44% of the company’s stock.

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.