The stock of State Street Corporation (NYSE:STT) decreased by -$1.78 on Tuesday to finish at $69.56, down -2.50 percent. The last five days have seen an average of 2,569,040 shares of common stock traded. 17 times new highs were reached in the current year, with a fall of -$8.01. The average number of shares traded over the last 20 days was 2,903,725, while the average volume over the last 50 days totaled 2,905,228.
STT stock appreciated 4.59% since last month. On 07/17/23, the company’s shares reached a one-month low of $65.40. The stock touched a high of $94.74 on 02/14/23, after rallying from a low of $58.62 in 52 weeks. The price of STT stock has declined by -10.33% or -$8.01 this year, reaching a new high 17 times. Still, the stock price is down -26.57% from the 52-week high.
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Insider Transactions
STT stock investors should be aware that State Street Corporation (STT) stock had its last reported insider trading activity 15 days ago on Aug 01. On Aug 01, President and COO Maiuri Louis D sold 8,800 shares at $71.96 each. This transaction resulted in the insider making $633,248. On May 19, Aboaf Eric W. sold 11,899 shares at a price of US$68.28. After the transaction, the insider now owns 157,860 shares. EVP and Chief Admin Officer RICHARDS MICHAEL L had earlier sold 319 shares on May 19 for $69.68 a share. The transaction was completed for $22,228.
Valuation Metrics
State Street Corporation (STT) has a trailing price-to-earnings (P/E) ratio of 9.39. Beta for the stock is 1.59. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.09, the price-to-book (PB) ratio of 1.03, and the price-to-cash flow ratio of 3.13.
Company paid $0.69 per share in dividends, an increase of 9.52% from $0.63 last year.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.77, and the total debt to equity ratio is 0.77. State Street Corporation’s operating margin stood at 40.30% for the same period. Based on annual data, it had gross profit of $2.54 billion and revenue of $4.09 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. STT’s return on assets (ROA) during the last 12 months has been 0.90%. There was a 5.20% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 11.40%.
Earnings Surprise
According to State Street Corporation’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. It was predicted that State Street Corporation’s quarterly earnings would be $2.17, but it ended up being $2.1, beating the consensus by 3.30%. At the end of State Street Corporation’s most recent quarter ended June 29, its total debt was $40.37 billion. Equity owned by shareholders amounts to $318.64 million.
Technical Picture
Here’s a quick look at State Street Corporation’s (STT) price momentum from a technical perspective. As of 15 August, the RSI 9-day stood at 35.51%, suggesting the stock is Neutral, with a 23.91% historical volatility rate.
The stochastic %K and %D were 35.21% and 51.83% respectively, while the average true range (ATR) was 1.91. Based on the 14-day stochastic reading of 5.19%, the RSI (14) reading is 41.01%. On the 9-day MACD Oscillator, the stock is at -1.00, and the 14-day reading is at -0.73.
Analyst Ratings
State Street Corporation (NYSE: STT) was downgraded by UBS to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned State Street Corporation (STT) an Hold rating. STT is a stock that is recommended for selling by 1 brokerage firm, while 13 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 5 others recommend it as a buy.
What is STT’s price target for the next 12 months?
The current consensus forecast for the stock is between $64.00 and $87.00, with a median target price of $75.00. In analyzing these forecasts, the average price target given by analysts for State Street Corporation (STT) is $75.47.
