State Street (NYSE:STT) PT Raised to $108.00 at Barclays

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

Several other research analysts also recently commented on STT. Royal Bank of Canada raised their target price on State Street from $85.00 to $91.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 17th. Citigroup boosted their price objective on shares of State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Wells Fargo & Company increased their target price on shares of State Street from $98.00 to $106.00 and gave the stock an “overweight” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of State Street from $79.00 to $87.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Evercore ISI lifted their price objective on State Street from $89.00 to $94.00 and gave the company an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, State Street has an average rating of “Hold” and an average price target of $91.39.

State Street Price Performance

Shares of NYSE:STT opened at $91.43 on Wednesday. The firm has a market capitalization of $27.54 billion, a PE ratio of 17.12, a P/E/G ratio of 1.29 and a beta of 1.48. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average price of $85.89 and a two-hundred day moving average price of $79.56. State Street has a twelve month low of $62.78 and a twelve month high of $94.60.

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 company had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.19 billion. State Street had a net margin of 8.98% and a return on equity of 11.78%. State Street’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period last year, the firm earned $1.93 EPS. Equities analysts forecast that State Street will post 8.15 EPS for the current year.

Institutional Trading of State Street

Several hedge funds have recently added to or reduced their stakes in the business. LRI Investments LLC bought a new position in shares of State Street during the first quarter valued at about $25,000. Ashton Thomas Private Wealth LLC purchased a new stake in State Street during the 2nd quarter valued at about $27,000. Norwood Financial Corp bought a new position in State Street during the 1st quarter worth approximately $35,000. Versant Capital Management Inc increased its stake in 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 purchasing an additional 416 shares during the period. Finally, Trust Co. of Vermont lifted its position in State Street by 44.4% in the second quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 200 shares during the last quarter. 87.44% of the stock is owned by institutional investors.

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.