State Street (NYSE:STT) Rating Increased to Strong-Buy at Zacks Research

State Street (NYSE:STT) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

STT has been the subject of a number of other reports. Seaport Research Partners reiterated a “buy” rating and issued a $170.00 price target on shares of State Street in a research note on Monday. Morgan Stanley increased their price target on State Street from $155.00 to $166.00 and gave the company an “overweight” rating in a research note on Monday. Truist Financial increased their price target on State Street from $136.00 to $150.00 and gave the company a “hold” rating in a research note on Monday. Argus raised their price objective on State Street from $140.00 to $168.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Bank of America upgraded State Street from an “underperform” rating to a “neutral” rating and set a $143.00 price objective for the company in a research note on Monday, April 6th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $154.00.

State Street Trading Down 0.8%

State Street stock opened at $152.28 on Tuesday. The stock has a 50-day moving average of $129.85 and a two-hundred day moving average of $125.74. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.61 and a current ratio of 0.57. State Street has a one year low of $85.05 and a one year high of $156.18. The stock has a market cap of $42.19 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 0.96 and a beta of 1.37.

State Street (NYSE:STT) last released its quarterly earnings results on Friday, April 17th. The asset manager reported $2.84 EPS for the quarter, beating analysts’ consensus estimates of $2.64 by $0.20. State Street had a return on equity of 14.22% and a net margin of 13.47%.The company had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the business posted $2.04 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year. On average, research analysts anticipate that State Street will post 12.21 EPS for the current fiscal year.

Insider Activity

In other news, EVP John Plansky sold 16,100 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $124.32, for a total value of $2,001,552.00. Following the completion of the transaction, the executive vice president directly owned 56,162 shares in the company, valued at $6,982,059.84. This trade represents a 22.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of STT. Regents of The University of California grew its holdings in State Street by 211.2% during the fourth quarter. Regents of The University of California now owns 8,706,195 shares of the asset manager’s stock worth $1,123,186,000 after acquiring an additional 5,908,370 shares during the period. Norges Bank acquired a new stake in State Street during the fourth quarter worth about $303,483,000. Pinebridge Investments LLC acquired a new stake in State Street during the fourth quarter worth about $178,705,000. Victory Capital Management Inc. grew its holdings in State Street by 30.8% during the fourth quarter. Victory Capital Management Inc. now owns 4,559,546 shares of the asset manager’s stock worth $588,227,000 after acquiring an additional 1,074,174 shares during the period. Finally, Two Sigma Investments LP grew its holdings in State Street by 261.0% during the third quarter. Two Sigma Investments LP now owns 1,217,802 shares of the asset manager’s stock worth $141,277,000 after acquiring an additional 880,507 shares during the period. 87.44% of the stock is currently owned by hedge funds and other institutional investors.

Key State Street News

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

• Positive Sentiment: Earnings-estimate revisions are moving higher for State Street, suggesting analysts expect continued profit momentum — a near-term positive catalyst. Earnings Estimates Moving Higher for State Street (STT): Time to Buy?
• Positive Sentiment: Keefe, Bruyette & Woods raised its price target to $175, signaling upside vs. current levels and supporting investor optimism. Keefe, Bruyette & Woods Boosts State Street (NYSE:STT) Price Target to $175.00
• Positive Sentiment: Momentum and Q1 commentary: observers note STT rallied recently (up ~4.3% over a week) and some analysts described Q1 as a “blockbuster,” reflecting strong EPS/revenue beats that underpin the bullish case. State Street Corporation (STT) Is Up 4.31% in One Week: What You Should Know
• Neutral Sentiment: Analyst coverage is mixed: several outlets highlight conflicting views across brokerages (some Holds, some constructive), leaving consensus direction unclear for investors. Analysts’ Opinions Are Mixed on These Financial Stocks: Simmons 1st Nat’l (SFNC) and State Street (STT)
• Neutral Sentiment: State Street’s asset-management units have trimmed/ceased “substantial holder” positions in several foreign names — routine portfolio moves that are unlikely to materially affect STT’s fundamentals but may show portfolio flow activity. State Street Exits Substantial Holder Position in Washington H. Soul Pattinson
• Negative Sentiment: Bank of America (via coverage reported on TipRanks) reiterated a Hold, noting that while near-term delivery is solid, a valuation re-rating limits upside — a cautionary signal that can cap multiple expansion. State Street: Solid Near?term Delivery but Valuation Re?Rating Leaves Risk?Reward Balanced at Hold
• Negative Sentiment: RBC Capital issued a Hold on STT, reinforcing the cautious theme among some brokers and contributing to today’s selling pressure. State Street (STT) Receives a Hold from RBC Capital

State Street Company Profile

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.