State Street (NYSE:STT) Given New $108.00 Price Target at Barclays

State Street (NYSE:STT) had its price target lifted by Barclays from $103.00 to $108.00 in a report published on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the asset manager’s stock.

A number of other research analysts also recently weighed in on STT. Wolfe Research reiterated an “underperform” rating and issued a $73.00 price objective on shares of State Street in a research report on Monday, July 8th. Keefe, Bruyette & Woods lowered their price target on State Street from $88.00 to $84.00 and set a “market perform” rating on the stock in a research report on Thursday, June 27th. Citigroup raised their price objective on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Bank of America upped their target price on State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. Finally, Morgan Stanley boosted their price target on shares of State Street from $100.00 to $102.00 and gave the stock an “equal weight” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $91.39.

State Street Stock Down 1.2 %

Shares of STT opened at $91.43 on Wednesday. The company has a market capitalization of $27.54 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.29 and a beta of 1.48. State Street has a 52 week low of $62.78 and a 52 week high of $94.60. The stock’s 50-day moving average price is $85.89 and its 200-day moving average price is $79.54. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89.

State Street (NYSE:STT) last released its quarterly earnings data on Tuesday, October 15th. The asset manager reported $2.26 EPS for the quarter, topping the consensus estimate of $2.12 by $0.14. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.19 billion. State Street had a return on equity of 11.78% and a net margin of 8.98%. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.93 EPS. On average, sell-side analysts predict that State Street will post 8.15 EPS for the current year.

Institutional Trading of State Street

Several large investors have recently bought and sold shares of STT. LRI Investments LLC acquired a new position in shares of State Street during the 1st quarter worth approximately $25,000. Ashton Thomas Private Wealth LLC acquired a new position in State Street during the second quarter worth $27,000. Norwood Financial Corp purchased a new stake in State Street in the 1st quarter valued at $35,000. Versant Capital Management Inc increased its stake in shares of State Street by 411.9% in the 2nd quarter. Versant Capital Management Inc now owns 517 shares of the asset manager’s stock worth $38,000 after acquiring an additional 416 shares during the last quarter. Finally, Trust Co. of Vermont raised its holdings in shares of State Street by 44.4% during the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock worth $48,000 after acquiring an additional 200 shares during the period. Hedge funds and other 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.