M&T Bank Corp Has $10.18 Million Stock Holdings in State Street Corporation $STT

M&T Bank Corp grew its stake in State Street Corporation (NYSE:STTFree Report) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 78,879 shares of the asset manager’s stock after buying an additional 3,405 shares during the period. M&T Bank Corp’s holdings in State Street were worth $10,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in STT. JPL Wealth Management LLC acquired a new position in shares of State Street in the third quarter worth approximately $29,000. Flagship Wealth Advisors LLC acquired a new position in shares of State Street in the third quarter worth approximately $35,000. Measured Wealth Private Client Group LLC acquired a new position in shares of State Street in the third quarter worth approximately $35,000. Ameriflex Group Inc. lifted its stake in shares of State Street by 102.5% in the third quarter. Ameriflex Group Inc. now owns 318 shares of the asset manager’s stock worth $37,000 after acquiring an additional 161 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of State Street by 38.2% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 340 shares of the asset manager’s stock worth $39,000 after acquiring an additional 94 shares during the period. Institutional investors and hedge funds own 87.44% of the company’s stock.

Key State Street News

Here are the key news stories impacting State Street this week:

Insider Activity

In other news, EVP Michael L. Richards sold 3,000 shares of the company’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $153.89, for a total transaction of $461,670.00. Following the transaction, the executive vice president owned 43,522 shares in the company, valued at approximately $6,697,600.58. This represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Plansky sold 16,100 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $124.32, for a total transaction of $2,001,552.00. Following the transaction, the executive vice president owned 56,162 shares in the company, valued at $6,982,059.84. This represents a 22.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 28,711 shares of company stock worth $3,933,032. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Bank of America raised State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective on the stock in a research note on Monday, April 6th. Truist Financial lifted their price objective on State Street from $136.00 to $150.00 and gave the stock a “hold” rating in a research note on Monday, April 20th. Morgan Stanley lifted their price objective on State Street from $155.00 to $166.00 and gave the stock an “overweight” rating in a research note on Monday, April 20th. Seaport Research Partners reaffirmed a “buy” rating and issued a $170.00 price objective on shares of State Street in a research note on Monday, April 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on State Street from $157.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, April 20th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $154.00.

Get Our Latest Research Report on STT

State Street Stock Up 0.4%

Shares of NYSE:STT opened at $148.68 on Wednesday. The company has a market capitalization of $41.15 billion, a price-to-earnings ratio of 15.08, a P/E/G ratio of 0.81 and a beta of 1.45. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.57. The business’s 50-day moving average is $133.14 and its 200-day moving average is $127.58. State Street Corporation has a 1 year low of $89.19 and a 1 year high of $156.18.

State Street (NYSE:STTGet Free Report) last announced its quarterly earnings data on Friday, April 17th. The asset manager reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.59 billion. State Street had a return on equity of 14.22% and a net margin of 13.47%.The firm’s revenue was up 15.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.04 EPS. Equities research analysts predict that State Street Corporation will post 12.31 earnings per share for the current year.

State Street Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 13th. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.84 per share. The ex-dividend date was Wednesday, April 1st. This represents a $3.36 annualized dividend and a dividend yield of 2.3%. State Street’s dividend payout ratio is currently 34.08%.

About State Street

(Free Report)

State Street Corporation is a global financial services company that provides a range of investment servicing, investment management and investment research and trading services to institutional investors. Its principal activities include custody and fund administration, securities lending, performance and risk analytics, trading and execution services, and foreign exchange. The company also offers investment management through State Street Global Advisors, a major provider of exchange-traded funds and institutional investment strategies.

State Street serves a broad client base of asset managers, insurance companies, pension funds, endowments, and other institutions across North America, Europe, Asia and other global markets.

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Institutional Ownership by Quarter for State Street (NYSE:STT)

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