Today: Today, State Street Corp. (STT) Stake Boosted by M&T Bank Corp

Today, State Street Corp. (STT) Stake Boosted by M&T Bank Corp

M&T Bank Corp raised its stake in State Street Corp. (NYSE:STT) by 5.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 136,348 shares of the company’s stock after buying an additional 6,728 shares during the period. M&T Bank Corp’s holdings in State Street Corp. were worth $9,495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in State Street Corp. during the second quarter valued at $223,563,000. Evercore Trust Company N.A. acquired a new position in State Street Corp. during the second quarter valued at $152,044,000. PNC Financial Services Group Inc. increased its position in State Street Corp. by 182.7% in the third quarter. PNC Financial Services Group Inc. now owns 1,956,066 shares of the company’s stock valued at $136,200,000 after buying an additional 1,264,029 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new position in State Street Corp. during the second quarter valued at $56,266,000. Finally, American Century Companies Inc. increased its position in State Street Corp. by 47.8% in the second quarter. American Century Companies Inc. now owns 2,976,398 shares of the company’s stock valued at $160,487,000 after buying an additional 962,464 shares during the last quarter. Institutional investors and hedge funds own 86.32% of the company’s stock.

State Street Corp. (NYSE:STT) traded up 0.20% during mid-day trading on Friday, reaching $78.44. The company’s stock had a trading volume of 517,745 shares. State Street Corp. has a 12-month low of $50.60 and a 12-month high of $79.27. The stock has a market cap of $30.26 billion, a price-to-earnings ratio of 16.05 and a beta of 1.32. The firm’s 50 day moving average price is $72.92 and its 200 day moving average price is $65.80.

State Street Corp. (NYSE:STT) last released its quarterly earnings data on Wednesday, October 26th. The company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.10. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.72 billion. State Street Corp. had a return on equity of 11.59% and a net margin of 19.97%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.16 earnings per share. On average, equities analysts predict that State Street Corp. will post $5.09 earnings per share for the current year.

A number of research analysts have recently commented on the company. Sandler O’Neill downgraded State Street Corp. from a “buy” rating to a “hold” rating and set a $73.00 target price for the company. in a research report on Tuesday, September 6th. Jefferies Group reiterated a “buy” rating and set a $74.00 target price (up from $63.00) on shares of State Street Corp. in a research report on Thursday, July 28th. Credit Suisse Group AG reiterated a “hold” rating and set a $74.00 target price on shares of State Street Corp. in a research report on Tuesday, September 6th. Deutsche Bank AG increased their target price on State Street Corp. from $60.00 to $66.00 and gave the company a “hold” rating in a research report on Thursday, July 28th. Finally, Keefe, Bruyette & Woods upgraded State Street Corp. from an “underperform” rating to a “market perform” rating in a research report on Wednesday, October 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $72.81.

In other State Street Corp. news, EVP Jeffrey N. Carp sold 15,000 shares of the business’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $69.26, for a total transaction of $1,038,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Karen C. Keenan sold 1,000 shares of the business’s stock in a transaction on Thursday, October 20th. The stock was sold at an average price of $70.57, for a total value of $70,570.00. Following the transaction, the executive vice president now directly owns 48,547 shares in the company, valued at approximately $3,425,961.79. The disclosure for this sale can be found here. Company insiders own 0.64% of the company’s stock.

About State Street Corp.

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