Why You Need State Street Corporation (STT) On Your Watchlist

State Street Corporation (NYSE:STT) saw a downside of -0.25% to close Monday at $90.97 after subtracting -$0.23 on the day. The 5-day average trading volume is 2,169,380 shares of the company’s common stock. It has gained $92.65 in the past week. An average of 2,706,685 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 2,282,478.

STT’s 1-month performance is 3.89% or $3.41 on its low of $80.83 reached on 09/20/21. The company’s shares have touched a 52-week low of $57.16 and high of $94.64, with the stock’s rally to the 52-week high happening on 08/30/21. YTD, STT has achieved 24.99% or $18.19. However, the current price is down -3.88%% from the 52-week high price.


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Insider Transactions

On Sep 09, 33 days have gone by since the last insider trading activity for State Street Corporation (STT). Taraporevala Cyrus (EVP; President and CEO of SSGA) most recently sold 4,487 shares at $87.00 per share on Sep 09. This transaction cost the insider $390,369. EVP and Chief Admin Officer, RICHARDS MICHAEL L, sold 330 shares at a price of $89.96 on Aug 16. Then, on Aug 09, EVP; President and CEO of SSGA Taraporevala Cyrus sold 4,487 shares at a price of $89.40 per share. This transaction amounted to $401,138.

Valuation Metrics

The company’s PE ratio for the last five years has touched a high of 21.55 and a low of 7.515. STT stock has a beta of 1.58. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 16.47 while the price-to-book (PB) in the most recent quarter is 1.36.

State Street Corporation pays an annual dividend of $2.28 per share. Its dividend yield is 2.51% and the payout ratio is 32.60%. STT’s most recent quarterly dividend payment was made on Oct. 12, when it paid $0.57 a share compared with prior rate of $0.52, up 8.77% from last year’s. The company has boosted its dividend for the last 1 consecutive years with the latest dividend increase of $0.05 reported on Thursday July 15 2021. Measured over the last 3 years, the Dividend has been growing by 30.00% yearly.

It is projected that State Street Corporation’s next ex-dividend date will be on 31-Dec-2021. STT is expected to distribute $0.57 as its next dividend.

As well, the company’s long term debt to equity for the quarter ending June 29 was 0.56, while the total debt to equity was 0.00 while for the period ending June 29; State Street Corporation’s operating margin was 98.20%. The firm’s gross profit as reported stood at $2.2 billion against revenue of $2.58 billion.

Earnings Surprise

For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Analysts expected STT to announce $1.79 per share in earnings in its latest quarter, but it posted $1.97, representing a 10.10% surprise. STT stock balance sheet for the quarter ending June 29 shows that, with total debt at $26.62 billion. Shareholders hold equity totaling $343.5 million

Technical Picture

Let’s look briefly at State Street Corporation (STT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 11 October was 65.31% to suggest the stock is trending Neutral, with historical volatility in this time period at 23.98%.

The stock’s 5-day moving average is $89.69, reflecting a +5.63% or $4.85 change from its current price. STT is currently trading +3.02% above its 20-day SMA, +8.18% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 and SMA200 by +4.40% and +27.09% respectively.

Stochastic %K and %D was 86.86% and 87.60% and the average true range (ATR) pointed at 2.34. The RSI (14) points at 59.63%, while the 14-day stochastic is at 82.98% with the period’s ATR at 2.33. The stock’s 9-day MACD Oscillator is pointing at 2.39 and 3.11 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for State Street Corporation (NYSE: STT), Wolfe Research upgraded it to an Outperform rating. They previously had a Peer perform rating on the stock. Analysts offering their rating for STT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate STT as a “sell,”, while 7 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 10 have offered a “buy” rating.

What is STT’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $86.00 and a high of $122.00, with their median price target at $102.00. Looking at these predictions, the average price target given by analysts is for State Street Corporation (STT) stock is $101.40.

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