State Street Corp (STT) was Reiterated by RBC Capital Mkts to “Sector Perform” while Lowering the Price Target of the company shares to $ 65 from a previous price target of $70 . RBC Capital Mkts advised their investors in a research report released on Apr 11, 2016.
Many Wall Street Analysts have commented on State Street Corp. State Street Corp was Downgraded by Keefe Bruyette to ” Underperform” on Mar 28, 2016. Company shares were Reiterated by Deutsche Bank on Feb 25, 2016 to “Hold”, Firm has raised the Price Target to $ 56 from a previous price target of $52 .Shares were Reiterated by RBC Capital Mkts on Jan 28, 2016 to “Sector Perform” and Lowered the Price Target to $ 70 from a previous price target of $83 .
On the company’s financial health, State Street Corp reported $1.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $1.18. The company had revenue of $2538.00 million for the quarter, compared to analysts expectations of $2617.79 million. The company’s revenue was down -3.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.37 EPS.
State Street Corp opened for trading at $56.75 and hit $57.18 on the upside on Monday, eventually ending the session at $56.57, with a gain of 0.53% or 0.3 points. The heightened volatility saw the trading volume jump to 16,18,264 shares. Company has a market cap of $22,629 M.
In a different news, on Apr 5, 2016, Jeffrey N Carp (EVP, CLO and Secretary) sold 25,000 shares at $58.00 per share price. According to the SEC, on Feb 1, 2016, Sean P Newth (SVP, CAO and Controller) sold 500 shares at $53.63 per share price. On Nov 24, 2015, Joseph L Hooley (Chairman and CEO) sold 36,871 shares at $72.98 per share price, according to the Form-4 filing with the securities and exchange commission.
State Street Corporation (State Street) the parent company is a financial holding company. The parent company provides financial and managerial support to its legal and operating subsidiaries. The Company through its subsidiary State Street Bank provides financial services and products to institutional investors across the world. Its clients include mutual funds collective investment funds and other investment pools corporate and public retirement plans insurance companies foundations endowments and investment managers. It has two lines of business: Investment Servicing and Investment Management. The Investment Servicing line of business performs core custody and related value-added functions such as providing institutional investors with clearing payment and settlement services. It provides Investment Management services through State Street Global Advisors (SSGA) .SSGA provides an array of investment management investment research and investment advisory services.