State Street (STT) Projected to Post Quarterly Earnings on Thursday

State Street (NYSE:STT - Get Free Report) is anticipated to post its quarterly earnings results before the market opens on Thursday, April 17th. Analysts expect State Street to post earnings of $1.98 per share and revenue of $3.30 billion for the quarter. Persons interested in listening to the company's earnings conference call can do so using this link.

State Street (NYSE:STT - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The asset manager reported $2.60 EPS for the quarter, topping analysts' consensus estimates of $2.29 by $0.31. State Street had a return on equity of 12.60% and a net margin of 12.14%. The firm had revenue of $3.41 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same period last year, the company earned $2.04 earnings per share. The business's revenue for the quarter was up 12.1% on a year-over-year basis. On average, analysts expect State Street to post $10 EPS for the current fiscal year and $11 EPS for the next fiscal year.

State Street Price Performance

Shares of State Street stock traded up $1.14 on Tuesday, reaching $82.05. The stock had a trading volume of 156,218 shares, compared to its average volume of 2,172,722. The business's 50 day moving average is $90.67 and its two-hundred day moving average is $93.98. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 1.03. State Street has a 1 year low of $70.20 and a 1 year high of $103.00. The company has a market cap of $23.68 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.11 and a beta of 1.42.

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State Street Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Tuesday, April 1st were given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 3.70%. The ex-dividend date was Tuesday, April 1st. State Street's payout ratio is 36.89%.

Insider Activity at State Street

In related news, Director Gregory L. Summe sold 10,815 shares of the business's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $100.00, for a total transaction of $1,081,500.00. Following the transaction, the director now directly owns 100,023 shares in the company, valued at $10,002,300. The trade was a 9.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ann Fogarty sold 3,705 shares of State Street stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $99.47, for a total transaction of $368,536.35. Following the completion of the sale, the executive vice president now owns 50,816 shares of the company's stock, valued at $5,054,667.52. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

Institutional Investors Weigh In On State Street

A hedge fund recently bought a new stake in State Street stock. Brighton Jones LLC acquired a new stake in State Street Co. (NYSE:STT - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,012 shares of the asset manager's stock, valued at approximately $296,000. 87.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STT. Truist Financial lowered their price objective on shares of State Street from $104.00 to $89.00 and set a "hold" rating on the stock in a research report on Friday, April 4th. Evercore ISI cut their price objective on State Street from $109.00 to $106.00 and set an "outperform" rating for the company in a report on Tuesday, April 1st. Bank of America raised their price objective on State Street from $98.00 to $99.00 and gave the company an "underperform" rating in a report on Wednesday, April 2nd. JPMorgan Chase & Co. raised State Street from an "underweight" rating to a "neutral" rating and set a $95.00 target price for the company in a research note on Friday, December 20th. Finally, Morgan Stanley decreased their price target on shares of State Street from $139.00 to $132.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $102.43.

About State Street

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.