State Street (NYSE:STT) PT Raised to $94.00 at Evercore ISI

State Street (NYSE:STT) had its price target hoisted by Evercore ISI from $89.00 to $94.00 in a research note issued to investors on Wednesday, Benzinga reports. Evercore ISI currently has an outperform rating on the asset manager’s stock.

Several other research analysts have also recently weighed in on STT. The Goldman Sachs Group raised their target price on State Street from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted their price target on shares of State Street from $85.00 to $91.00 and gave the company a “sector perform” rating in a report on Wednesday, July 17th. Citigroup lifted their target price on State Street from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Bank of America raised their price target on shares of State Street from $85.00 to $96.00 and gave the stock an “underperform” rating in a report on Wednesday, July 17th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of 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. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $91.39.

State Street Stock Performance

STT stock opened at $92.93 on Wednesday. The stock’s 50 day simple moving average is $85.33 and its 200 day simple moving average is $79.35. State Street has a 12-month low of $62.78 and a 12-month high of $94.60. The firm has a market cap of $28.00 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.30 and a beta of 1.48. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.89.

State Street (NYSE:STT) last announced its quarterly earnings results on Tuesday, October 15th. The asset manager reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.14. State Street had a return on equity of 11.78% and a net margin of 8.98%. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same period in the prior year, the firm earned $1.93 EPS. The business’s quarterly revenue was up 21.1% on a year-over-year basis. As a group, equities research analysts predict that State Street will post 8.15 EPS for the current year.

Institutional Trading of State Street

A number of institutional investors and hedge funds have recently made changes to their positions in the company. LRI Investments LLC acquired a new position in State Street during the first quarter worth about $25,000. Ashton Thomas Private Wealth LLC bought a new stake in State Street during the 2nd quarter worth $27,000. Norwood Financial Corp bought a new position in State Street in the 1st quarter valued at approximately $35,000. Versant Capital Management Inc lifted its holdings in shares of State Street by 411.9% during the second 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 grew its position in shares of State Street by 44.4% in the 2nd quarter. Trust Co. of Vermont now owns 650 shares of the asset manager’s stock valued at $48,000 after buying an additional 200 shares during the last quarter. 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.